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Ionic Rare Earths hits major milestone with increased exploration target

Wednesday, February 28, 2024 02:45 PM | TheNewsWire via QuoteMedia

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Ionic Rare Earths hits major milestone with increased exploration target

(NewsDirect)

Ionic Rare Earths Ltd (ASX:IXR) managing director Tim Harrison joins Proactive’s Jonathan Jackson to discuss significant updates from the Makuutu Heavy Rare Earths Project in Uganda. Harrison gives insight into the revised and increased conceptual exploration target for Makuutu, explaining the implications of these new figures for IonicRE and the project's potential impact. The target has increased by 40% to 285-766 million tonnes grading 400-700 ppm total rare earth oxides (TREO). Harrison outlines the work and research that contributed to the increase and talks about how the company is securing more than 90% interest in the project, marking a pivotal step in the company's development efforts. Finally, he discusses the significance of Makuutu being the most advanced ionic adsorption clay project in development today, including its role in the global supply chain and its importance for future rare earths demand and he looks at news and developments to come in the coming weeks and months.

The company is progressing the development at the Makuutu Heavy Rare Earths Project through local Ugandan operating entity Rwenzori Rare Metals Limited (RRM). IonicRE has agreed terms with partners in RRM on moving to 94% ownership which is expected to occur in the first half of this year.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

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