Ionic Rare Earths Limited
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How Significant are Ionic Rare Earths Intersections at Makuutu's Drill Holes?
Ionic Rare Earths Limited's Promising Phase 5 Infill Drilling Results at Makuutu
Ionic Rare Earths Limited (IonicRE), a key player in the rare earths industry, has announced encouraging results from the Phase 5 resource infill and extension drilling at the Makuutu Heavy Rare Earths Project in Uganda. These findings represent a significant step in the development of Makuutu, one of the world’s most advanced heavy rare earth projects.
High-Grade Rare Earth Intersections in All Infill Drill Holes
The results include high-grade rare earth intersections in all 20 infill core drill holes received. Significant intersections include:
5. 3 meters at 1,044 ppm TREO from 2. 7 meters in RRMDD784
17. 1 meters at 1,003 ppm TREO from 4.
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8 meters in RRMDD778
16. 2 meters at 713 ppm TREO from 4. 0 meters in RRMDD771
Ongoing Analysis
Samples from the remaining 52 holes are currently being analyzed, with results poised to further enhance the understanding of the deposit’s potential.
Makuutu’s Rich Rare Earth Basket
Makuutu’s rare earth basket contains 71% magnet and heavy rare earths content, positioning it as a critical source for new supply chains in Europe, the US, and Asia.
Development and Ownership
IonicRE, through its local operating entity Rwenzori Rare Metals Limited, is progressing development at Makuutu. The company has agreed to terms with partners to move to 94% ownership, expected to occur in the first half of 2024.
Drill Program Details
The 128-hole Phase 5 program, completed on Retention Licence (RL) 00007, aims to upgrade resource estimation confidence from inferred to indicated status in Areas A and B. It also tests extensions of these areas to expand the mineral resource area.
Drill Hole Patterns and Locations
Drilling was on a 200-meter spaced pattern with a mix of extension and infill holes. Extension drilling up to 500 meters south and southwest of MRE Area A has shown mineralization continues beyond the current resource estimate.
Preliminary Analysis and Forward Program
The infill holes have continued zones of thicker and often higher-grade intervals than the original 400-meter spaced drill holes. The best intersections from this round include 17. 1 meters at 1,003ppm TREO and 16. 2 meters at 713ppm TREO.
Next Steps
Following the receipt of all assay results, an updated resource estimation will be completed, further advancing the Makuutu project.
A Significant Leap in Rare Earth Exploration
The Phase 5 infill and extension drilling results represent a significant leap in the exploration and development of the Makuutu Heavy Rare Earths Project. With its high rare earths content and strategic importance in global supply chains, Makuutu stands out as a key project in the rare earths sector.
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