Ionic Rare Earths Limited (ASX:IXR)
Ionic Rare Earths Limited (ASX:IXR) is focused on developing its flagship Makuutu Rare Earths Project in Uganda towards production.
The Makuutu Rare Earths Project
Makuutu is an advanced, major, low-cost, rare earths development opportunity. There is significant upside to the current Mineral Resource, given less than 25% of the Exploration Target area has been drill tested, with 26 km of mineralisation corridor to explore.
The mineralisation at Makuutu has been confirmed as an ionic adsorption clay (“IAC”) rare earth mineralisation, akin to Chinese ionic clay projects.
Clay hosted deposits are currently the lowest cost sources of critical and heavy rare earths in the world, and the only economical source of heavy rare earth oxides (“HREO”). Exploration completed at Makuutu has confirmed near surface, high grade mineralisation, providing a low-cost mining pathway for IonicRE.
IonicRE has completed successful metallurgical testing at Makuutu which returned excellent recoveries of up to 75% TREE Ce, using simple extraction techniques. These results compare favourably to other known ionic clay hosted rare earth projects. Subsequent optimisation testing continues to improve upon this.
Makuutu is well-supported by tier-one infrastructure, with easy access to major highways and roads to site, nearby power infrastructure with readily available hydropower, rail, cell phone communications and water availability.