{"id":5255,"date":"2024-02-01T22:51:30","date_gmt":"2024-02-01T22:51:30","guid":{"rendered":"https:\/\/economicherald.net\/?p=5255"},"modified":"2024-02-01T22:51:30","modified_gmt":"2024-02-01T22:51:30","slug":"infill-drilling-raising-the-certainty-of-ionic-rare-earths-makuutu-ree-resource-in-uganda","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=5255","title":{"rendered":"Infill drilling raising the certainty of Ionic Rare Earths\u2019 Makuutu REE resource in Uganda"},"content":{"rendered":"<p>Phase 5 infill drilling program is delivering more certainty to the Area A resource<br \/>\nFurther REE intersections raises likelihood more of the resource will be upgraded to the indicated category<br \/>\nIonic Rare Earths says more assays from drilling are pending<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Greater certainty is coming to Area A at the Makuutu project in Uganda with Ionic Rare Earths reporting the assays from all 20 infill core holes received to date returning mineralised intersections.<\/strong><\/p>\n<p>Makuutu\u00a0is the most advanced Ionic Adsorption Clay-hosted (IAC) project currently in development with product not committed to China. The operation has a resource of 532Mt grading 640ppm total rare earth oxides (TREO) which is\u00a0<a href=\"https:\/\/stockhead.com.au\/resources\/ionic-rare-earths-finds-theres-more-to-makuutu-than-meets-the-eye\/\"><strong>due for an update<\/strong><\/a>.<\/p>\n<p>It is also the subject of a Stage 1 definitive feasibility study\u00a0that has already outlined an initial 35-year life project capable of producing a 71% rich magnet and heavy rare earth carbonate (MREC) product basket.<\/p>\n<p>Highlighting just how important <a href=\"https:\/\/stockhead.com.au\/company\/ionic-rare-earths-ixr\/\"><strong>Ionic Rare Earths\u2019 (ASX:IXR)<\/strong><\/a> Makuutu heavy rare earths project is to Uganda, it is also the <a href=\"https:\/\/stockhead.com.au\/resources\/milestone-party-as-ionic-rare-earths-lands-ugandas-first-ever-large-scale-mining-licence-for-makuutu\/\"><strong>recipient of the country\u2019s very first large-scale mining licence<\/strong><\/a> since it passed the Mining Act of 2022.<\/p>\n<p>The licence sets the stage for further supply chain and offtake engagement, while positioning IXR for a final investment decision later this year, with first production expected in 2026.<\/p>\n<p>IXR has also agreed terms with its partners to increase its ownership in Makuutu from 60% to 94% in 1H 2024.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Drilling supports resource certainty<\/strong><\/h2>\n<p>The second tranche of results from Phase 5 infill drilling returned assays such as 17.1m @ 1,003ppm TREO from 4.8m and 5.3m @ 1,044ppm TREO from 2.7m, providing further evidence that Area A of the Makuutu resource estimate is consistently mineralised.<\/p>\n<p>Notably, it increases the likelihood that IXR will be to move a significant part of the current resource into the higher confidence indicated category, which has sufficient information on geology and grade continuity to support mine planning.<\/p>\n<p>The Phase 5 program also tested extensions of both Area A and Area B to expand the mineral resource area.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>More assays to come<\/strong><\/h2>\n<p>To date, IXR has received assay results from 76 of the 128 holes drilled under the Phase 5 infill and extensional drilling program.<\/p>\n<p>Samples for the remaining 52 holes are currently being analysed.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Ionic Rare Earths, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/infill-drilling-raising-the-certainty-of-ionic-rare-earths-makuutu-ree-resource-in-uganda\/\">Infill drilling raising the certainty of Ionic Rare Earths\u2019 Makuutu REE resource in Uganda<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Phase 5 infill drilling program is delivering more certainty to the Area A resource Further REE intersections raises likelihood more of the resource will be <a href=\"https:\/\/economicherald.net\/?p=5255\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":5256,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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