Ionic Rare Earths Limited (ASX: IXR) has announced the completion of the Phase 5 infill drill programme, progressing the development at the Makuutu Heavy Rare Earths Project through local Ugandan operating entity Rwenzori Rare Metals Limited.
IonicRE’s managing director, Mr. Tim Harrison, said “The infill drilling has progressed to plan and we await assays, expected over the remainder of 2023, to feed into a significant increase in confidence on the MRE associated with RL00007 which will support our next mining licence application at Makuutu.”
Samples are progressively being delivered to Perth for analysis, with first results expected this quarter.
Additionally, Makuutu’s basket contains 71% magnet and heavy rare earths content and is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across Europe, the US, and Asia.
Mr. Harrison continued, “We await the results of the metallurgical test work on samples selected from the recent RAB drilling as part of this Phase 5 drill programme which will enable revision to the exploration target aimed for late this quarter, and also assist the company plan future drilling across both EL00147 and EL00257.”
To find out more, please visit www.ionicre.com.au
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