The Board of Ionic Rare Earths has advised the commencement of the Phase 4 Drill Program at its 51% owned Makuutu Rare Earths Project in Uganda.
The drill program will aim at converting a significant portion of the Inferred Resources on RL 1693 to an Indicated Resource classification, plus also converting RL 1693 Exploration Targets to classified resources.
The Company’s Mineral Resource Estimate was announced at 315 Mt at 650 ppm Total Rare Earth Oxide (TREO) with a cut-off grade of 200 parts ppm TREO minus Cerium Oxide.
Makuutu ranks amongst the world’s largest ionic adsorption clay (IAC) deposits, and as such, a globally strategic resource for long term security of critical and heavy rare earth (HREO) supply.
The recently announced Makuutu Rare Earths Scoping Study was primarily supported by the Project’s Indicated Resource which reflected only circa 27% of the total Mineral Resource Estimate.
This infill drill program is primarily to increase the Indicated Resource base to support future studies at Makuutu, including the Feasibility Study.
Commenting on project advancement, Ionic Rare Earths MD Tim Harrison comments:
“We are glad to have resumed core drilling at Makuutu. We have ambitious plans for next 6 months, and with a 2nd rig due to arrive on site in coming days, we expect to complete a substantial amount of core drilling during this Phase 4 program.”
“The plan is to work towards converting the majority of the higher grade Inferred Resource base at RL 1693 to Indicated Resources over the second half of 2021.
“Additionally, we are working on the required drilling to define a measured resource base at RL 1693, and to help deliver this, a 3rd drill rig is being coordinated to arrive at site in the second half of July.”