Ionic Rare Earths Limited (“IonicRE” or “the Company”) (ASX: IXR) is pleased to announce the results of assays for Tranche Four (4) of the 8,220 metre Phase 4 drill program completed in October 2021 at the Makuutu Rare Earths Project (“Makuutu” or “the Project”) in Uganda.


Highlights

  • Fourth Tranche of Phase 4 drilling results received with all 75 holes intersecting rare earth element (REE) mineralised clay above the MRE cut-off grade, including the following outstanding thick high-grade intervals:
    • RRMDD539 8.9 metres at 1,476 ppm TREO from 4.3 metres
    • RRMDD477 13.5 metres at 1,432 ppm TREO from 3.5 metres
    • RRMDD518 16.5 metres at 1,424 ppm TREO from 5.4 metres
    • RRMDD514 8.7 metres at 1,336 ppm TREO from 12.3 metres
    • RRMDD533 9.6 metres at 1,296 ppm TREO from 3.1 metres
    • RRMDD520 28.5 metres at 1,250 ppm TREO from 2.9 metres
    • RRMDD523 16.4 metres at 1,229 ppm TREO from 4.1 metres
    • RRMDD521 18.6 metres at 1,200 ppm TREO from 4.7 metres
  • Approximately 25% of assay intervals reported in this announcement present REE clay bearing thickness in excess of 20 metres
  • Remaining Phase 4 samples from 176 holes at the assay laboratory and expected to be reported over next 2 months

Drilling results to date confirm that Makuutu is a large scale, ionic adsorption clay (IAC) hosted rare earth element (REE) project, with extension potential identified east and to the northwest. The Project is well supported by existing infrastructure and is one of a few confirmed IAC deposits identified globally, outside of China.

Drill assay results have been received for a further 75 drill holes making up the Tranche 4 submission. The results are for holes drilled within the existing inferred and indicated Mineral Resource Estimate (MRE) at the Makuutu Central Zone, resource areas G and H, and to evaluate Exploration Target C, that was excluded from the 2021 MRE due to limited drill hole density.

Click here for the full ASX Release

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

Top News

Related News

×