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- Ionic Rare Earths (IXR) has extended rare earth mineralisation east of the mineral resource boundary at the Makuutu Rare Earths Project in Uganda
- Over 3700 metres were drilled across three tenements to confirm an exploration target, increase the potential of the 26-kilometre-long mineralisation corridor and expand the mineral resource
- Assay results for tranches three and four, consisting of 75 drill holes, are pending
- Company shares are trading flat at 1.5 cents in early afternoon trade
Ionic Rare Earths (IXR) has received tranche two results from a recently-completed drilling program at the Makuutu Rare Earths Project in Uganda.
A total of 3745 metres were drilled across three tenements at Makuutu to confirm IXR’s exploration target, increase the potential of the 26-kilometre-long Makuutu mineralisation corridor and provide data to expand the mineral resource.
In June this year, the mineral resource was successfully expanded to 78.6 million tonnes at 840 parts per million (ppm) total rare earth oxides (TREO), at a cut-off grade of 300 ppm TREO-cerium oxide.
Phase two drilling tested an area that’s three times the size of the existing mineral resource estimate area with 222 holes drilled. Pleasingly, the latest assays have extended rare earth mineralisation east of current mineral resource boundary.
Four extension holes were drilled with the best intersection being 3.8 metres at 761 ppm TREO from 4.2 metres.
A total of 19 resource expansion holes were drilled in Area F. Best results include 8.1 metres at 1069 ppm TREO from 3.4 metres, 8.8 metres at 1,166 ppm TREO from 3.3 metres and 5.7 metres at 1102 ppm TREO from 6.6 metres.
A further nine resource expansion holes were drilled at Area G on a discrete plateau three-kilometre east of the mineral resource boundary. Best results include 6.5 metres at 649 ppm TREO from 3.5 metres, 5.1 metres at 824 ppm TREO from 2.3 metres and 14.3 metres at 775 ppm TREO from 3.5 metres.
“We are very happy with recent results, confirming, as expected, that the clay-bearing REE mineralisation extends east of the current mineral resource area outlined by the exploration target and remains well defined by radiometric signatures,” CEO Tim Harrison said.
“Pleasingly, this bodes well for the other targets which have used the same targeting methods with all intersecting clay,” he added.
However, due to high demand for labs in Western Australia, assays have been delayed. At this stage, assay results for tranches three and four, consisting of 75 drill holes, are pending.
In addition to the analytical samples, a total of 2246 kilograms of core samples for metallurgical test work has arrived in Perth. A further 1100 to 1500 kilograms are awaiting shipment.
Company shares are trading flat at 1.5 cent in early afternoon trade.
