Drilling at Ionic’s Uganda project shows extension potential
ASX-listed Ionic Rare Earths has announced that initial drill results from the Phase 5 resource infill and extension drilling at its 60%-owned Makuutu heavy rare earths project, in Uganda, show mineralisation extends at least 1.8 km west of current mineral resource limit on retention licence (RL) 00007.
Assay results for 56 holes of the 128-hole Phase 5 resource infill and extension drilling programme completed on RL 00007 have been received.
The programme is intended to increase resource estimation confidence from inferred to indicated status on resource areas A and B, and to test extensions of those areas to expand the mineral resource area.
Infill drilling results show thicker and higher-grade intersections than previous wide-spaced drilling.
Clay-hosted rare earth intersections were achieved in 53 of 56 infill core drill holes received.
Samples for the remaining 72 holes are being analysed or are in transit from Uganda to the assay laboratory.
The company is progressing the development at the Makuutu project through local Ugandan operating entity Rwenzori Rare Metals.
Makuutu’s basket contains 71% magnet and heavy rare earths content, and the company highlights that it is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across Europe, the US and Asia.
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