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Ionic Rare Earths Commences Phase 4 Infill Drilling at Makuutu

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THE DRILL SERGEANT: Ionic Rare Earths (ASX: IXR) has commenced a Phase 4 drill program at the company’s 51 per cent-owned Makuutu rare earths project in Uganda.

Ionic Rare Earths indicated the drill program will aim at converting a healthy portion of the current Inferred Resources on RL 1693 to an Indicated Resource classification, plus also converting RL 1693 Exploration Targets to classified resources.

The company reported a Mineral Resource Estimate (MRE) in March of 315 million tonnes at 650 parts per million (ppm) total rare earth oxide (TREO) with a cut-off grade of 200 ppm TREO minus cerium oxide.

Ionic also recently announced a Rare Earths Scoping Study for Makuutu that was primarily supported by the Indicated Resource, which reflected some 27 per cent of the total MRE.

The infill drill program is to be carried out primarily to increase the Indicated Resource base to support future studies at Makuutu, including a Feasibility Study.

“We are glad to have resumed core drilling at Makuutu,” Ionic Rare Earths managing director Tim Harrison said in the company’s ASX announcement.

“We have ambitious plans for next six months, and with a second rig due to arrive on site in coming days, we expect to complete a substantial amount of core drilling during this Phase 4 program.

“The plan is to work towards converting the majority of the higher grade Inferred Resource base at RL 1693 to Indicated Resources over the second half of 2021.

“Additionally, we are working on the required drilling to define a measured resource base at RL 1693, and to help deliver this, a third drill rig is being coordinated to arrive at site in the second half of July.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ionicre.com.au

 

Web: www.ionicre.com.au

 

Ionic Rare Earths to Commence Resource Drilling at Makuutu

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THE DRILL SERGEANT: Ionic Rare Earths (ASX: IXR) made its presence felt on Day Two of the 2021 RIU Sydney Resources Roundup by announcing the proposed next phase of drilling at the company’s 51 per cent-owned Makuutu rare earths project in Uganda.

Ionic Rare Earths explained the drill program will aim at increasing the Inferred Resources on RL 1693 to an Indicated Resource category, plus also converting RL 1693 Exploration Targets to classified resources.

The company released a Mineral Resource Estimate in March 2021 of 315 Million tonnes at 650ppm Total Rare Earth Oxide (TREO) with a cut-off grade of 200 parts per million (ppm) TREO minus Cerium Oxide (CeO2).

Drilling is planned to commence shortly, with the first rig secured.

A second rig is being organised to arrive approximately a fortnight later to expedite the initial allocation of infill drilling.

 

 

Email: admin@ionicre.com.au

 

Web: www.ionicre.com.au

 

Ionic Rare Earths Delivers Makuutu Scoping Study

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THE DRILL SERGEANT: Ionic Rare Earths (ASX: IXR) reported outcomes from a Scoping Study completed on the company’s 51 per cent-owned Makuutu rare earths project, located east of Kampala, Uganda.

Ionic Rare Earths declared the Scoping Study outcomes have demonstrated potential for Makuutu to become a sustainable, long-life, relative low capital development cost supplying critical rare earth oxide (CREO) and heavy rare earth oxide (HREO) to global markets, generating strong financial returns while also delivering important social and economic benefits for the local communities in Uganda.

“The results reinforce not only the significant strategic value of an ionic adsorption clay deposit like Makuutu and the basket it can potentially produce, but the potential long-life free cash flow generating potential achieved with the modular, low capital intensity development plan and simple operation indicated in the Study,” IonicRE managing director Tim Harrison said in the company’s ASX announcement.

“The completion of this Study with its positive project economics represents a critical milestone for the company.

“Combining the long life potential, with the low-cost modular capital development and high margin basket potential at Makuutu, confirms the project as one of the best potential new sources of critical and heavy rare earths in the near term.

“We see this project as technically and financially robust and eminently financeable, and the company has received strong expressions of interest from strategic parties interested in accessing Makuutu’s unique basket composition that contains approximately 70 to 75 per cent critical and heavy rare earths.

“We look forward to advancing this project expeditiously towards production that will see IonicRE transition from an exploration company to a producer.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ionicre.com.au

 

Web: www.ionicre.com.au