Ionic Rare Earths has announced the receipt of assays for Tranche 1 of the Phase 4 drill program in progress at the Makuutu Rare Earths Project in Uganda.
Makuutu is a large scale, ionic adsorption clay (IAC) hosted rare earth element (REE) project well supported by existing infrastructure and one of less than a handful of such deposits identified globally.
Drill assay results have been received for the Tranche 1 submission consisting of 50 drill holes, RRMDD280 to 330 (excluding hole RRMDD0326). All holes were drilled to infill the current Makuutu Central Zone East Mineral Resource Estimate (MRE) area on a 200-metre spacing, aimed at increasing confidence from Inferred to Indicated resource classification.
Additionally, new holes have been added around the perimeter of the previously announced MRE which has the potential for a minor increase in the total size of the resource across this area.
This is the first tranche of drilling results from the 7,800 metre Phase 4 drilling program, with a further two tranches currently at the Perth laboratory, and a third in transit to Australia.
The Phase 4 program is progressing well, having now completed in excess of 6,200 metres, with all three (3) drill rigs currently active completing the 200 metres spaced infill on the large MRE area I.
Ionic Rare Earths Managing Director, Tim Harrison comments:
“These infill results align well with expectation, given the continuity of the clay previously observed at Makuutu. The thick clay mineralisation in the Makuutu Central Eastern Zone is expected to add substantial grade and tonnage in the Indicated resource classification for the Project as part of the next MRE update expect late Q1 2022, and a key input for the feasibility study expected before October 2022.”
“The near surface results with such thick zones of elevated TREO grades observed within these infill results are very positive, inferring potential to have a higher-grade mining inventory earlier in the mine plan for the Project, and potentially leading to a significant positive impact on the economics of the feasibility study.”