IonicRE progresses resource expansion drilling at Makuutu project
ASX-listed Ionic Rare Earths (IonicRE) says the Phase 5 drill programme on its 60%-owned Makuutu rare earths project, in Uganda, is advancing according to plan.
The company says, in a release, that reconnaissance drilling has been completed on exploration licence (EL) 00147 and is now under way on EL 00257.
The first licence had 45 holes for 931 m drilled to an average drill hole depth of 21 m.
The next licence will see 76 holes for 1 078 m drilled to an average drill hole depth of 21 m.
The core drilling programme, which is planned for retention licence (RL) RL00007, will start at the end of June. This programme is aimed at increasing resource classification from inferred to indicated status.
IonicRE says all samples from the EL00147 have been packaged and shipped to a test laboratory in Perth, Australia, with the results expected to be reported by the end of the third quarter.
Makuutu currently ranks among the world’s largest and most advanced ionic adsorption clay rare earth element deposits and, as such, a globally strategic resource for near-term, low-capital development and long-term security of magnet and heavy rare earth oxide supply.
Moreover, IonicRE believes new incoming mining regulations in Uganda will support the completion of its mining licence application for the Makuutu project.
MD Tim Harrison says the strategic focus of the Phase 5 drilling programme is to further define potential for growth at Makuutu and support increased confidence regarding the next mining licence application area RL00007.
“Growing the resource and defining more growth potential is a key discussion point with several potential strategic partners looking at securing the potential product from Makuutu to underpin their heavy rare earth demands in the near term to support the new economy of electrification, advanced manufacturing, and defence,” he adds.
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