Announcement Date: 2022-03-22
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Ionic Rare Earths Ltd.
Project name: Makuutu
Location: Uganda
Commodities: REO
Highlight: Drilling results incl. 17.0m @ 637ppm REO from 4.4m
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 Six (6) 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. The Phase 4 drilling has confirmed 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 final 66 drill holes of the program making up the Tranche 6 submission. The results are for holes drilled within the existing inferred Mineral Resource Estimate (MRE) at the large resource area I, located within RL00234. All 66 holes reported in this announcement have delivered clay and saprolite mineralisation intersections above the cut-off grade of 200 ppm Total Rare Earth Oxide less CeO2 (TREO-CeO2)
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