| Announcement Date: | 2022-02-07 |
|---|---|
| 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. 13.1m @ 1374ppm REO from 47m |
| 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 results of assays for Tranche Five (5) 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. Drilling results to date continue to 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 110 drill holes making up the Tranche 5 submission. The results are for holes drilled within the existing inferred and indicated Mineral Resource Estimate (MRE) at the Makuutu Central Zone, resource area I, and to evaluate Exploration Target C and E, that were excluded from the 2021 MRE due to limited drill hole density. |
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