Ionic Rare Earths (ASX:IXR) has begun a phase five drill program for 4,380m across its Makuutu Rare Earths Project in Uganda.
The company says the work will be completed across retention licence (RL) 00007 and exploration licences (EL) 00147 and EL00257. The news comes ahead of Ionic’s scheduled attendance at Mines and Money Connect Melbourne on 14 and 15 June 2023.
The aim of the program is to upgrade the Inferred Resources on the RL to an Indicated Resource category and conduct reconnaissance drilling at the ‘large’ exploration targets discovered at both ELs.
Commenting on the drill program, Ionic Rare Earths Managing Director Tim Harrison says he is excited to resume drilling at Makuutu.
“Further to the substantial base we have defined as part of the stage 1 DFS at Makuutu with the MLA over RL1693 pending, we have ambitious plans for further growth along the 37km long mineralised corridor on our tenements.
“We have ambitious plans for further growth along the 37km long mineralised corridor on our tenements”
With a second rig due to arrive on site in coming weeks, we will complete a substantial amount of core and RAB drilling during this phase five program to provide further growth opportunities and to support the next MLA on the Makuutu western zone.”
Ionic Rare Earths is an ASX-listed mineral exploration company focused on developing its flagship Makuutu Rare Earths Project to production.
Images: Ionic Rare Earths Ltd