Ionic Rare Earths Limited (ASX: IXR) (“IonicRE” or “the Company”) is pleased to provide its Quarterly Report for the period ending 31December2021,including exploration activities at its 51% owned Makuutu Rare Earths Project (“Makuutu”) in Uganda.


HIGHLIGHTS

  • Completion of Phase 4 Drill Program
    • Major milestone reached with infill and extension drill program completed ahead of schedule
    • 8,220 metres of drilling completed (432 holes), targeting a material increase in Measured and Indicated resource at Makuutu
    • Assay results returned for Tranches 2, 3 and 4, with 176 drill holes remaining with results expected near term
  • Exploration License EL00257 awarded, increasing Makuutu Rare Earth Project tenement area to approximately 300 square kilometres
  • Makuutu Rare Earth Project continues to progress on schedule, with the Environmental and Social Impact Assessment (ESIA) submitted in December
  • Binding Term Sheet signed for strategic acquisition of Seren Technologies Limited, a UK private company that has developed Rare Earth Element (REE) separation and refining technology using ionic liquids, with potential for near term magnet recycling

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This article includes content from Ionic Rare Earths, 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.

IXR:AU

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