ASX-listed Ionic Rare Earths has reported pleasing assay results for Tranche 2 of the 8 220 m Phase 4 drill programme at its Makuutu rare earths project, in Uganda.
Tranche 2 comprised of 60 drill holes, which all delivered clay and saprolite mineralisation intersections above the cut-off grade of 200 ppm total rare earth oxide less cerium dioxide.
“The primary objective of the Phase 4 infill drill programme was to increase the confidence on the mineral resource estimate (MRE) at Makuutu to support a longer-life mine plan for the feasibility study. Pleasingly, the higher grades and thickness we have observed in the infill drilling, and also in the areas that sit outside the current MRE, infer that we will also see a potential increase in the total quantum of resource at Makuutu.
“The thicknesses of the clay zones under shallow cover further differentiates Makuutu as a truly unique asset – a proven ionic adsorption clay of scale rapidly advancing towards development,” comments Ionic MD Tim Harrison.
He notes that the company expects to release an updated MRE in the second quarter of next year.