Ionic Rare Earths received approval for renewal of Retention License 00007

Ionic Rare Earths Limited (ASX: IXR) announced that it had renewed its Retention Licence (RL) 00007, at its Makuutu Rare Earths Project in Uganda, for an additional two years. RL 00007 covers the Makuutu Western Zone and comprises an Inferred Resource of 39 million tonnes at 470 ppm TREO. RL 00007 is situated near the Retention Licence 1693, which is currently under Mining Licence Application and will deliver the basis for additional capacity and organic growth at Makuutu once early mining and processing activity starts.

The company has also stated that this renewed RL is also nearly south of the potential exploration target situated at EL00257, where applications have been submitted for drilling to start this year to further explain the scale of potential ionic clay mineralisation to the west of the MLA area. Once these new exploration approvals have been granted, the company plans to start the Phase 5 drill program at Makuutu to move the resource to an Indicated Resource classification.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com