Largest Programme To Date Gaining Momentum In Uganda
Ionic Rare Earths Limited (ASX: IXR) has mobilised a third drill rig as part of its exploration and project development activities at its 51% owned Makuutu Rare Earths Project in Uganda.
Makuutu is one of the world’s largest scale ionic adsorption clay (IAC) hosted Rare Earth Element (REE) deposits, located 120 km east of Kampala in Uganda.
The company is focused on the completion of a Feasibility Study and supporting activities to enable the submission of a Mining Licence Application (MLA) to the Ugandan Directorate of Geological Survey and Mines (DGSM) before November 1, 2022.
Managing Director, Tim Harrison, said the aim of the Phase 4 drill programme is to convert the Inferred Resources on RL 1693 to Indicated and Measured Resource category, plus also converting RL 1693 Exploration Targets to classified resources. These higher classified resources will then be used to underpin the Makuutu Feasibility Study.
The Phase 4 programme includes 5,700 metres of drilling making this drill program the largest completed by the company to date.
Phase 4 infill drilling has initially started near Makuutu Central Zone (MCZ) on RL 1693, specifically prioritising infill drilling to areas immediately adjacent to the existing Indicated Resource area, Central Zone East (CEZ) Inferred, CEZ Unclassified Exploration Target, Central Main Zone Inferred, plus areas F, G and H.
The zones represent the highest identified Total Rare Earth Oxide (TREO) grade Inferred and Exploration Target mineralisation at Makuutu.
On the back of the extremely encouraging Phase 3 RAB results identified immediately adjacent to existing inferred resources, additional holes have been allocated which will extend the central zone marginally to the west.
“The progress at Makuutu continues to move along at a very rapid pace,” Mr Harrison said.
“The phase 4 infill drilling programme is ahead of plan and with the third rig now on site we expect to get through the program ahead of schedule.
“The very positive recently reported Phase 3 RAB drill results have provided strong encouragement to extend drilling in areas immediately adjacent to the Makuutu central area indicated resource area and we have moved swiftly to add that to the program.
“We have no shortage of future targets with substantial extensional upside at Makuutu however we remain ensuring we define an adequate indicated resource base to support the Feasibility Study.”
Mr Harrison also reported that the company is making excellent progress the Makuutu Feasibility Study work programme. Key consultants have been appointed to accelerate technical and commercial assessment of all key elements of the Makuutu Rare Earths Project.
For further information please visit: https://ionicre.com.au/
