September 2022 Quarterly Activities Report

PVW intersects multiple intersections of Heavy Rare Earths and Gold during its maiden drilling program at its Tanami Project in Western Australia

Highlights

Tanami Rare Earth Element (REE) and Gold Project

Exploration during the period has continued in the Tanami for REE and Gold. Reverse Circulation (RC) exploratory drilling was completed at the Castella and Watts Rise prospects, and first pass air-core drilling commenced along the 18km regional stratigraphic target. Results for the Company’s first drilling campaign in the Tanami for REE and gold are very positive.

132 RC holes have been completed for 10,727m. Assays to date from 66 RC holes have returned numerous significant TREO results including:
- 22TARC002 (Castella) – 2m @ 0.65% (6,496 ppm) TREO (296 ppm Dy2O3, 2,347 ppm Y2O3) from 3m, including 1m @ 0.95% (9,530 ppm) TREO from 3m.
- 22TARC053 (Castella) – 1m @ 2.19% (21,865 ppm) TREO (1,228 ppm Dy2O3, 11,810 ppm Y2O3) from 2m.
- 22TARC005 (Castella) – 4m @ 0.38% (3,803 ppm) TREO (210 ppm Dy2O3, 1,343 ppm Y2O3) from 2m, including 2m @ 0.52% (5,202 ppm) TREO from 4m
- 22TARC101 (Watts Rise) – 2m @ 0.80% (8,042 ppm) TREO (579 ppm Dy2O3, 5,001 ppm Y2O3) from 62m including 1m @ 1.43% (14,332 ppm) TREO (1,046 ppm Dy2O3, 9,194 ppm Y2O3) from 63m.
- 22TARC107 (Watts Rise) – 1m @ 0.86% (8,645 ppm) TREO (506 ppm Dy2O3, 4,139 ppm Y2O3) from 35m.
Subsequent to the end of the Quarter the first pass air-core program has tested approximately 12km of the 18km considered prospective stratigraphy. The regional drilling was completed with 357 holes drilled for 16,206m.
A detailed ground gravity survey and field mapping campaign have commenced. These exploration activities will add detailed data sets that will be utilised in conjunction with the drilling and assay data to define the next generation of targets.

Corporate

The Company presented at the New Age Metal Conference in Perth, Sydney and Melbourne. Annual Report was finalised and preparation for the AGM is complete, scheduled for November 29, 2022.

Exploration activities

Subsequent to the end of the quarter the combined RC and air-core drilling program was completed with a total of 132 RC holes completed for 10,727m and 357 air-core holes for 16,206m. Importantly, the 4-month program was completed without incident – a credit to the PVW exploration team and the Prospect drill crew.

The RC drilling has tested beneath highly elevated surface rare earth mineralisation at both the Castella and Watts Rise prospects and has provided confirmation of historical gold results at Watts Rise.

The air-core drilling provides a first-pass test of the broader Watts Rise – Castella regional targets defined by exploration activities in 2021 and 2022. This regional drilling program is exploring for indications of REE and gold mineralisation undercover and early indications from the geology and pXRF yttrium readings are encouraging.

There are numerous assays pending with REE results returned for 66 RC holes, all 4m RC composite (gold assays) results returned and 1m resamples are awaited. Results for 4m composite gold and 1m sample REE assays for all air-core holes are pending.

With exploration activities focused on the Tanami Project, exploration in other regions of Kalgoorlie, Leonora and Ballinue has been restricted to planning and preparation for later in 2022.

Tanami Project

Previous on ground surface exploration, desktop mineralogical studies, and drilling results confirm several styles of REE mineralisation in both the Pargee Sandstone and the Killi Killi Formation.

The TREO results returned from RC drilling to date highlight mineralisation of the Meso/ Paleoproterozoic unconformity, overlying units within the Pargee Sandstone and structurally controlled sites below the unconformity. Mineralisation styles and variable hosts confirmed in the drilling indicate a complicated mineralising system.

The significance of the brecciation and mineralogy within the Killi Killi Formation potentially provides a range of additional exploration opportunities away from the immediate unconformity targets. The first drilling campaign completed by the Company in the region has been successful in validating targets and identifying REE mineralisation and the potential remains for discoveries in the Tanami Project.

Click here for the full ASX Release

This article includes content from PVW Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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PVW:AU

Ionic Rare Earths Limited IonicRE Presenting at MST Financial African Mining Forum

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is pleased to invite investors and shareholders to attend the MST Financial African Mining & Energy Forum on Monday 4 December 2023 at 1.30pm AEDT.

Managing Director Tim Harrison will discuss progress across the Makuutu Heavy Rare Earth Project and Ionic Technologies, and engagement with the new economy supply chain.

To join the presentation, please visit:
https://www.abnnewswire.net/lnk/D3QY7D2U

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Rare Earths Identified Over 5Km Strike At Grønnedal Deposit, Greenland

Eclipse Metals Ltd (Eclipse or the Company) (ASX: EPM) is pleased to announce that it has delineated a rare earth element (REE) exploration target at Grønnedal within its 100% owned Ivigtût multi-commodity project in SW Greenland. While the rare earth mineralisation at Grønnedal extends over 5 km by 2 km of nepheline syenite, the exploration target currently encompasses an approximately 3 km by 800 m section of ferrocarbonatite intruding the syenite (Targeted Area). This Targeted Area is highlighted in Figure 1 and is derived from a combination of recent exploration, a geophysical assessment and review of public domain data.

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Makuutu Land Access Agreement Verification Completed by DGSM for Stage 1 Mining License Application

Ionic Rare Earths Limited (“IonicRE” or “the Company”) (ASX: IXR) is pleased to provide a further update on progress in securing land access agreements and the verification process for the Mining Licence Application (MLA) for the Stage One development of the Makuutu Rare Earths Project (“Makuutu”) over Retention Licence (RL) 1693 (application TN03834), through local Ugandan operating entity Rwenzori Rare Metals Limited (“RRM”).

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Ionic Rare Earths Limited Welcomes EU Critical Minerals Act Progress

Perth, Australia (ABN Newswire) - The Board of Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) welcomes developments from the European Union last week, where the European Parliament and the Council, the grouping of EU governments, agreed on common text for the Critical Raw Materials Act to encourage recycling of magnet rare earths, now classified as Strategic Raw Materials.

Ionic Rare Earths Managing Director Tim Harrison said the wholly-owned Ionic Technologies facility in Belfast, UK, was progressing key discussions with magnet manufacturers on swarf (metal and magnet making waste) recycling plus exploring opportunities to access a steady supply in magnets to be recycled from sources such as end-of-life turbines from grid scale wind farms and components from used electric vehicles.

"Our proprietary magnet recycling technology will help the EU meet these targets to develop domestic, secure, and sustainable supply chains to address strategic supply and sovereign security," Harrison said.

The EU's decision upgrades the benchmark for recycling of critical raw materials from 15 percent to at least 25 percent of annual consumption of raw materials by 2030.

"Our Belfast facility is key to us harnessing our technology to accelerate our mining, refining and recycling of magnets and heavy rare earths which are critical for the energy transition, advanced manufacturing, and defence," he said.

The European Union's media release states:

"The Critical Raw Materials Act is intended to make the EU more competitive and sovereign. It aims to cut red tape, promote innovation along the entire value chain, support SMEs and boost research and the development of alternative materials and more environmentally friendly mining and production methods.

The legislation will set up economic incentives and a more stable and secure business framework for the deployment of mining and recycling projects, with faster and simpler authorisation procedures."

As a next step in this legislative process, the informal agreement must be approved by both EU Parliament and Council to become law. It will be put to a vote in the Industry, Research and Energy committee on 7 December 2023.

The Belfast Demonstration Plant location, has the ability for the Belfast facility to meet EU criterion based upon the Windsor Framework, providing dual market access across the EU and UK and provides a platform for the Company to explore both commercialisation of the technology in Belfast and also wider Europe.

About Ionic Rare Earths Limited:

Ionic Rare Earths Limited (ASX:IXR) (OTCMKTS:IXRRF) is focused on developing its flagship Makuutu Rare Earths Project in Uganda into a significant long life, low-cost, supplier of high-value critical and heavy rare earths.

Makuutu is an advanced-stage, ionic adsorption clay-hosted project highlighted by near-surface mineralisation, significant exploration upside, excellent metallurgical characteristics and access to tier-one infrastructure.

The ionic adsorption clay-hosted geology at Makuutu is similar to major rare earths projects in Southern China, which are responsible for the majority of global supply of low cost heavy and critical rare earths, specifically the high value magnet metals (Dysprosium and Terbium) Heavy Rare Earths (>98% originating from ionic clays). Metallurgical testing at Makuutu has returned excellent recovery rates, which provide multiple avenues for a simple process route.

Makuutu is well-supported by tier-one existing infrastructure which includes access to major highways, roads, power, water and a professional workforce.

Rare Earths will play a critical role in the future of clean energy. Rare Earths are a key ingredient in the permanent magnets found in wind turbines and electric vehicles.

IonicRE is led by an experienced and proven team, who have the capabilities to deliver Makuutu into production and realise value for all stakeholders.

News Provided by ABN Newswire via QuoteMedia

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Keep reading...Show less

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