Quarterly Report for The Period Ending 30 June 2022

Ionic Rare Earths Limited (ASX:IXR) (IonicRE or the Company) is pleased to provide its Quarterly Report for the period ending 30 June 2022. During the quarter, IonicRE has made significant progress across business activities, including exploration and development activities at its Makuutu Rare Earths Project (Makuutu) in Uganda and the finalisation of the acquisition of Seren Technologies Ltd in the UK.

HIGHLIGHTS

Updated Mineral Resource Estimate at the Makuutu Rare Earths Project in Uganda
- Updated MRE is estimated at 532 million tonnes at 640ppm Total Rare Earth Oxide (TREO) above a cut-off grade of 200ppm TREO minus CeO₂
- Indicated Resource component increased 512% to 404 million tonnes at 670 ppm TREO
- Indicated Resource base is approximately 76% of the total Mineral Resource which will support the Feasibility Study
- Contains significant portion of highly valuable heavy and magnet REOsRevised Exploration Target at Makuutu announced
Revised Exploration Target at Makuutu announced
- Exploration Target range estimated from previously RAB drilled areas, indicating potential for Makuutu to double in resource tonnage long term
- Phase 5 exploration program underway, with field-based reconnaissance to map target areas for further drilling, including on untested geophysical anomaly target areas and tenement RL00257
Community engagement activities progressing
Makuutu Feasibility Study progressing on schedule
Acquisition of Seren Technologies Ltd in the UK completed
$30 million Placement completed to new global Institutions and existing Investors

Makuutu Rare Earths Project

Makuutu is one of the world’s largest ionic adsorption clay (IAC) hosted Rare Earth Element (REE) deposits, located 120 km east of Kampala in Uganda. Makuutu is 100% owned by Ugandan company Rwenzori Rare Metals Ltd (RRM), of which IonicRE owns 51% at present, moving to 60% on the completion of the Feasibility Study by the end of October 2022.

Updated Mineral Resource Estimate

On 3 May 2022, IonicRE announced a substantial 70% increase to the total mineral Resource Estimate (MRE) and a material increase in resource classification. The updated MRE is estimated at 532 million tonnes at 640ppm Total Rare Earth Oxide (TREO), above a cut-off grade of 200ppm TREO minus CeO2. The indicated component of the MRE has been increased to 404 million tonnes at 670 ppm TREO, representing a 512% increase on the previous March 2021 Indicated resource estimate.

The distribution of resource tonnes above cut-off grade is dominated by the combined higher grade Makuutu Central and Makuutu Central East Zones. These areas were not joined in the previous MRE; however, following the Phase 4 drilling they now provide a continuous resource area over 5.5km long and 3km wide for a combined 234 million tonnes or 44% of the total resource and 52% of the total Indicated Resource above cut-off (see Figure 1).

Figure 1: Mineral Resource Estimate (MRE) areas by classification. Green shading on Indicated resource areas and blue on Inferred resource areas.

The updated MRE is now being used to complete mine planning activities which will feed into the Makuutu Feasibility Study, which is due to be completed later in 2022, and submitted to the Ugandan Government as part of the mining licence application by the end of October 2022.

Click here for the full ASX Release

This article includes content from Ionic Rare Earths Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Ionic Rare Earths Limited IonicRE Presenting at MST Financial African Mining Forum

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to invite investors and shareholders to attend the MST Financial African Mining & Energy Forum on Monday 4 December 2023 at 1.30pm AEDT.

Managing Director Tim Harrison will discuss progress across the Makuutu Heavy Rare Earth Project and Ionic Technologies, and engagement with the new economy supply chain.

To join the presentation, please visit:
https://www.abnnewswire.net/lnk/D3QY7D2U

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Ionic Rare Earths Limited Welcomes EU Critical Minerals Act Progress

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) welcomes developments from the European Union last week, where the European Parliament and the Council, the grouping of EU governments, agreed on common text for the Critical Raw Materials Act to encourage recycling of magnet rare earths, now classified as Strategic Raw Materials.

Ionic Rare Earths Managing Director Tim Harrison said the wholly-owned Ionic Technologies facility in Belfast, UK, was progressing key discussions with magnet manufacturers on swarf (metal and magnet making waste) recycling plus exploring opportunities to access a steady supply in magnets to be recycled from sources such as end-of-life turbines from grid scale wind farms and components from used electric vehicles.

"Our proprietary magnet recycling technology will help the EU meet these targets to develop domestic, secure, and sustainable supply chains to address strategic supply and sovereign security," Harrison said.

The EU's decision upgrades the benchmark for recycling of critical raw materials from 15 percent to at least 25 percent of annual consumption of raw materials by 2030.

"Our Belfast facility is key to us harnessing our technology to accelerate our mining, refining and recycling of magnets and heavy rare earths which are critical for the energy transition, advanced manufacturing, and defence," he said.

The European Union's media release states:

"The Critical Raw Materials Act is intended to make the EU more competitive and sovereign. It aims to cut red tape, promote innovation along the entire value chain, support SMEs and boost research and the development of alternative materials and more environmentally friendly mining and production methods.

The legislation will set up economic incentives and a more stable and secure business framework for the deployment of mining and recycling projects, with faster and simpler authorisation procedures."

As a next step in this legislative process, the informal agreement must be approved by both EU Parliament and Council to become law. It will be put to a vote in the Industry, Research and Energy committee on 7 December 2023.

The Belfast Demonstration Plant location, has the ability for the Belfast facility to meet EU criterion based upon the Windsor Framework, providing dual market access across the EU and UK and provides a platform for the Company to explore both commercialisation of the technology in Belfast and also wider Europe.

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Ionic Rare Earths Limited Makuutu Infill Results Deliver Higher Grade Intersections

Perth, Australia (ABN Newswire) - Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to advise initial drill results from the Phase 5 resource infill and extension drilling at its 60 per cent owned Makuutu Heavy Rare Earths Project ("Makuutu" or "the Project") in Uganda.

The Company is progressing the development at the Makuutu Heavy Rare Earths Project through local Ugandan operating entity Rwenzori Rare Metals Limited ("RRM").

Assay results for 56 holes of the 128-hole Phase 5 resource infill and extension drilling program completed on Retention Licence (RL) 00007 have been received. The program is intended to increase resource estimation confidence from inferred to indicated status on resource areas A and B, and to test extensions of those areas to expand the mineral resource area. Figure 1* is a plan of the Makuutu 2022 Mineral Resource Estimate (MRE) and exploration target areas with MRE areas A and B located on the western end of the deposit located within RL00007.

Intersections compiled above the MRE lower cut-off of 200ppm Total Rare Earth Oxide less Cerium Oxide (TREO-CeO2) are listed in Table 1* and shown diagrammatically in plan view in Figure 2*.

Drilling was on a 200 metre spaced pattern with forty nine (49) of the drill holes being extensions to the MRE and seven (7) are MRE Area A infill holes. Figure 2* shows the core hole locations (diamond shape) with intersection thickness (point size) and TREO grade (point colour) with the reported 200 metre spaced holes with bold hole numbers and the previous 400m spaced holes in italic hole numbers. Previously reported regional exploration RAB drill holes are also shown (round points).

The 49 extension holes were drilled up to 1.8 kilometres west of the western boundary of MRE Area A, within the Makuutu mineralised trend. This extension drilling shows mineralisation continues beyond the MRE boundary with narrow intersections in low lying areas on the margins of the mineralised plateaus and increasing in thickness on the plateaus.

The resulted infill holes have generally shown thicker and higher-grade intervals than the original 400 metre spaced drill holes used to estimate the inferred resource. Best intersections include;

- RRMDD762, with 21.8 metres at 783ppm TREO from 4.7 metres depth; and
- RRMDD761, with 16.7 metres at 714ppm TREO from 4.7 metres depth.

Several of both extension and infill drill holes show high grade heavy rare earth (HREO) and critical rare earth (CREO) intersections including extension holes;

- RRMDD712, with 9.9 metres at 952ppm TREO including 430ppm HREO and 530ppm CREO;
- RRMDD713, with 6.7 metres at 1,008ppm TREO with 428ppm TREO and 483ppm CREO; and
- RRMDD767, with 9.9 metres at 1,163ppm TREO with 672ppm HREO and 641ppm CREO.

The elevated proportions of HREO and CREO coincide with weathered limonitic veining and alteration in the clay and underlying saprock. Furter investigations of these results is required to determine the extents of these high-grade zones.

The results from the remaining 72 drill holes are currently at the laboratory in Perth being analysed or in transit from Makuutu to Perth for analysis.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5K3XL569

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Ionic Rare Earths Limited REO Magnet Recycling Ramping up to 24/7 for Customer Samples

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to provide an update regarding its rare earth magnet recycling business Ionic Technologies International Ltd ("Ionic Technologies"), a 100% owned subsidiary based in Belfast UK.

Ionic Technologies is a global first mover in the recycling of Neodymium-Iron-Boron (NdFeB) permanent magnets to enable the creation of sustainable, traceable and sovereign Rare Earth supply chains.

Ionic Technologies has received multiple new enquiries regarding partnering with the Company to utilise its magnet recycling technology to secure sustainable rare earths supply. Ionic is now ramping up its capabilities and moving operations at its Demonstration Plant to 24 hours, 7 days a week production capacity, which will enable greater volumes of rare earths to be produced for samples to potential customers, and which will facilitate converting these discussions into commercial agreements.

Ionic Technologies has already successfully secured funding for two CLIMATES grants from the UK Government's Innovate UK totalling GBP2 million (A$3.90 million) (ASX 12 September 2023) which provides a significant endorsement of the Company and the technology. Ionic Technologies successful grant funding submissions centred on two CLIMATES projects:

1. in partnership with Ford Technologies (Ford) and Less Common Metals (LCM), Ionic Technologies will develop a traceable, circular supply chain of rare earths for application in EV motors within the UK; and

2. in partnership with the British Geological Survey, Ionic Technologies will complete a feasibility study and supply chain analysis for a commercial magnet recycling plant in Belfast.

Ionic Technologies' Demonstration Plant has already produced quantities of high purity (> 99.5%) neodymium (Nd) and dysprosium (Dy) rare earth oxides (REOs), as announced 19 June 2023. After initial process commissioning and production runs through Q3 2023, Ionic Technologies has installed additional processing equipment, and is in the final stages of upgrading the installed control system which is now undergoing processing commissioning and is expected to be completed by the end of 2023. Ionic Technologies is targeting 24/7 operations from early January 2024, with commercial production runs to support the LCM and Ford collaboration, and processing end of life magnet samples for other potential customers.

These additional supply chain engagement discussions have progressed based upon reverse enquiry post production of high purity REOs in June 2023. The Company is evaluating several significant opportunities across the rare earth supply chain, and progressing supply arrangements with leading businesses in the permanent magnet supply chain.

Technology Overview

Since its founding in 2015, as a spinout from Queens University Belfast (QUB), Ionic Technologies has developed processes for the separation and recovery of REEs from mining ore concentrates and waste permanent magnets.

The technology developed is a step up in efficient, non-hazardous, and economically viable processing with minimal environmental footprint.

Ionic Technologies proprietary technology provides a universal method for the recovery of high purity grade rare earth elements from lower quality and variable grade magnets, to be used in the manufacture of modern high-performance and high specification permanent magnets required to support substantial growth in both electric vehicle (EV) and wind turbine deployment.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/RP19U0V8

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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High Priority REE Targets Identified At The Company’s Critical Elements Project

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to update the market on the identification of several high priority targets prospective for REE mineralisation. Targets were identified by expert geophysical consultant, Southern Geoscience. The Company’s aim is to identify pegmatite bodies or carbonatite-associated intrusions within these targets that have the potential to host REE mineralisation.

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Extensive Phosphate And Rare Earths Mineral System Emerging At Cummins Range With 384 Metre Intersection

Record intercept in first diamond hole plus multiple 100m+ intercepts in RC drilling significantly expands the scale of the Project

RareX Limited (RareX, the Company) (ASX: REE) is pleased to report significant new results received from diamond and reverse circulation (RC) drilling being undertaken as part of the 2022 growth drilling program at its 100%-owned Cummins Range Rare Earths and Phosphate Project in the Kimberley region of Western Australia.

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Positive Scoping Study For Cummins Range Shows Potential For Sustainable, Long-Life Rare Earths Project

RareX Limited (RareX, the Company) (ASX: REE) is pleased to report positive outcomes from a Scoping Study (Scoping Study, the Study) completed on its 100% owned Cummins Range Rare Earths Project (the Project, Cummins Range), located in the Kimberley region of WA. The Scoping Study was led by Primero with support from Mining Plus among other leading consultancies.

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Quarterly Report for The Period Ending 30 June 2022

Overview

Company Highlights

Record intercept in first diamond hole plus multiple 100m+ intercepts in RC drilling significantly expands the scale of the Project

New World Metals Investment Series – 8 September 2022

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