Ionic Rare Earths reels in Phase 5 assays up to 1,412ppm TREO at Makuutu

• Ionic Rare Earths intersects clay-hosted rare earths in all 52 infill core drill holes of recent program at Makuutu project in Uganda
• Data to be used to update the project’s current 523Mt resource
• Updated resource expected towards the end of the current March quarter

Special Report: Ionic Rare Earths has received a welcome boost ahead of the impending resource update for its Makuutu project in Uganda with the latest batch of results from the Phase 5 infill and extension drilling program intersecting clay-hosted rare earths in all 52 holes.

Ionic Rare Earths (ASX:IXR) continues to progress the development at Makuutu through local Ugandan operating entity Rwenzori Rare Metals, with IXR owning 60%.

The company recently agreed to terms with partners in RRM on moving to 94% ownership, which is expected to occur in the first half of this year.

The Phase 5 drilling program – designed to test extensions across areas A and B – has now returned results for 52 infill core drill holes at the Retention Licence at the Makuutu heavy rare earths project in Uganda.

Standout results in all drill holes

Clay-hosted rare earth mineralisation was intersected in all holes at IXR’s Retention Licence (RL 00007) on Makuutu’s western zone, returning:

• 4.4m @ 1,412ppm total rare earth oxides (TREO) from 1.2m;
• 8.1m @ 1,261ppm TREO from 3.7m;
• 3.9m @ 1,077ppm TREO from 2.3m; and
• 10.2m @ 991ppm TREO from 1.7m.

Data from Phase 5 infill drilling will now be applied to update the current 523Mt @ 640ppm TREO resource, which is expected by the end of the current quarter.

Makuutu’s basket contains 71% magnet and heavy rare earths content.

It is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across Europe, Asia and the US.

This article was developed in collaboration with Ionic Rare Earths, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.