100% Success Rate for Phase 4 Tranche 6 Infill Drill Results

Ionic Rare Earths (ASX:IXR, or "IonicRE") is pleased to announce the results of assays for Tranche Six (6) of the 8,220 metre Phase 4 drill program completed in October 2021 at the Makuutu Rare Earths Project (“Makuutu” or “the Project”) in Uganda.

Highlights:

• Sixth and final Tranche of Phase 4 drilling results received with all 66 holes intersecting rare earth element (REE) mineralised clay above the Mineral Resource Estimate (MRE) cut-off grade, including the following outstanding near surface, thick REE grade bearing intervals:
  • RRMDD702 5.7 metres at 1,102 ppm TREO from 2.3 metres
  • RRMDD691 6.7 metres at 767 ppm TREO from 5.6 metres
  • RRMDD705 17.0 metres at 637 ppm TREO from 4.4 metres
  • RRMDD647 14.7 metres at 600 ppm TREO from 5.7 metres
  • RRMDD667 12.4 metres at 595 ppm TREO from 4.7 metres
• This completes an outstanding Phase 4 drill program with all 432 holes drilled delivering results confirming REE bearing clays above the current MRE cut-off grade
• The 100% success rate of Phase 4 drill program will now feed into the MRE update, which has commenced with expected delivery in Q2 2022

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