The Board of Ionic Rare Earths Limited (“IonicRE” or “The Company”) (ASX: IXR) advises on progress at its 60 per cent owned Makuutu Heavy Rare Earths Project (“Makuutu” or “the Project”) in Uganda.
- Activity increasing at Makuutu Demonstration Plant with commencement of earthworks and construction, the installation contract is being carried out by a local Ugandan company;
- Makuutu Demonstration Plant to validate test work and provide the strong basis for grade control, mine design, material handling, metallurgical reconciliation, and construction while maximising Stage One DFS results;
- Phase Five drilling advancing:
- All 76 rotary air blast (RAB) holes (1,663 metres) completed across EL00147, EL00247 and RL00007;
- Core drilling progressing with 29 holes drilled for 558 metres completed of 4,380 metre program to support upgrade in the Mineral Resource Estimate classification from inferred to indicated over RL00007;
- Makuutu ranked amongst the world’s largest and most advanced, development- ready ionic adsorption clay heavy rare earth element deposits; and
- Community engagement continues to progress well.
“The commercialisation of our recycling technology at our Belfast Facility and our focus on the delivery of the Makuutu Heavy Rare Earths Project in Uganda positions us to provide a secure, sustainable, and traceable supply of magnet REOs,” Tim Harrison, Managing Director at IonicRE, said.
“We are harnessing our technology to accelerate our mining, refining and recycling of magnets and heavy rare earths that are critical for the energy transition, advanced manufacturing, and defence.”
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The Company is progressing the development at the Makuutu Heavy Rare Earths Project through local Ugandan operating entity Rwenzori Rare Metals Limited (“RRM”).
At the Makuutu Demonstration Plant technical facility, earthworks have been completed, the facility shed fabricated and delivered to site, and the erection of the technical facility has commenced. Foundation formwork is currently being set out, with concrete footings commencing this weekend and superstructure erection within the next 4 weeks.
The Makuutu Demonstration Plant technical facility will validate metallurgical test work and provide further technical validation basis for grade control, mine design, material handling, metallurgical reconciliation, and construction activity whilst also supporting Project financing and strategic partner activity.
“The progress allows IonicRE and RRM to harness our processing innovations to accelerate and validate mine development with a clear process plan to production and profitability,” Harrison said.
“This step will also strengthen talks we have progressed with supply chain partners where further value adding has been identified. It is a globally strategic resource for near-term development and long-term security of magnet and heavy rare earth oxide (HREO) supply,” he said.
ON DRILLING AND RESOURCES UPGRADE
“The Phase Five exploration drilling program is on schedule, with 1,663 metres of RAB drilling completed across Exploration Licences (EL) 00147 and 00257 and Retention Licence (RL) 00007.”
“Infill core diamond drilling on RL00007 is progressing well, with 29 holes completed, representing 558 metres of the planned 4,380 metres aimed to upgrade the Makuutu Mineral Resource Estimate (MRE), with increased classification of Inferred Resources to Indicated Resources, and support the second Mining Licence Application (MLA) located on the Makuutu western zone due to be submitted before the end of November 2024.”
ON FURTHER PERMITTING
“RRM’s In-Country Manager has received feedback from a Ministry of Energy and Mineral Development (MEMD) Representative last week advising that the Ugandan Authorities would expedite review of outstanding relevant paperwork within days to allow for the gazetting of updated mining regulations.”
“Following that, a finalisation of the Mining Licence Application (MLA) fee payment can be lodged and the review and award of the MLA on RL 1693 (TN03834) shortly thereafter.”
ON COMMUNITY ENGAGEMENT
Mr Harrison said,
“the acquisition of the area for the Makuutu Demonstration Plant had involved significant effort from the community stakeholder team as well as other technical specialists across cultural heritage, biodiversity studies and environmental teams who documented surveys and baseline monitoring points as required by the conditions set out in the Makuutu ESIA Certificate received last year.”
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