MAKUUTU DELIVERS POSITIVE SCOPING STUDY AND DEMONSTRATES POTENTIAL TO DEVELOP A SUSTAINABLE, LONG-LIFE, CRITICAL AND HEAVY RARE EARTH SUPPLY
• Significant drill program focused on increasing the Indicated Resource base at the Makuutu Rare Earth Project to commence shortly • The infill drill program
Retention Licence 1693 extended for two years plus two additional Exploration Licences awarded in January 2021 Updated Makuutu Mineral Resource Estimate (MRE) of 315 Mt
• Ionic Rare Earths signs milestone non-binding MOU with global rare earth giant Chinalco • Chinalco is the world’s largest rare earth miner and separator
• Rotary Air Blast drilling program underway with presence of sedimentary basin confirmed and regolith clay intercepts on Exploration Licence 00147 • Drill program testing
Makuutu Rare Earths Project has received first stage approval from Uganda’s National Environmental Management Authority • Environmental and Social Impact Assessment and enhanced Stakeholder Engagement
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