Announcement Date: 2021-12-20
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Ionic Rare Earths Ltd.
Project name: Makuutu
Location: Uganda
Commodities: Rare Earth
Highlight: Drilling results incl. 12.0m @ 1468ppm REO from 4.5m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Ionic Rare Earths Limited (“IonicRE” or “the Company”) (ASX: IXR) is pleased to announce the receipt of assays for Tranche three (3) of the 8,220 metre Phase 4 drill program completed in October at the Makuutu Rare Earths Project (“Makuutu” or “the Project”) in Uganda. Drilling results to date indicate 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 the Tranche 3 submission consisting of 71 drill holes, including RRMDD390 to 460. The results are for holes drilled within the existing inferred and indicated Mineral Resource Estimate (MRE) and to define extensions to the MRE in the Makuutu Central Zone (MCZ) and areas F and G.
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