Makuutu rare earths exploration target to ‘materially increase’, Ionic says
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Special Report: Ionic Rare Earths (ASX:IXR) submits applications for more ground at the flagship Makuutu rare earths project, which could significantly extend the mineralised corridor from 26km to 36km.
This new ground is within the sedimentary basin margin which hosts elevated heavy rare earths.
The potential for a substantial step change in ionic adsorption clay mineralisation in this new eastern target is incredibly exciting for the company, chief exec Tim Harrison says.
“As drill assay results are returned from our recent drill program, we continue to see validation of the radiometric anomalies with predicted clay presence following along the trend within the Karoo Basin,” he says.
“Logging of the recent drilling on the eastern perimeter of EL 1766 intersected sound clay intervals.
“Based on these results we have high expectations for the ground in TN03424 and are very excited by the prospect that appears present.”
This new ground could also materially increase the current exploration target of 270 – 530 million tonnes grading 0.04 – 0.1% (400 – 1,000 ppm) TREO.
“Our focus remains on defining and progressing towards developing a globally significant long-life alternative supply of heavy and critical rare earths, and this potential additional tenement area could add significant value in achieving this goal,” Harrison says.
This article was developed in collaboration with Ionic, 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.