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SI6 is expanding its exploration portfolio, adding Brazil projects comprising Rare Earth Elements, Lithium, and PGE to its existing Botswana projects (Nickel, Copper, Cobalt).
Acquisition of ~17,800 hectare Brazil portfolio including prospective REE and Lithium assets in the "Lithium Valley" and Caldera Project areas will proceed right after shareholder approval. These project areas are among global Tier 1 lithium discoveries/producers, and also within Rio Tinto's exploration area in the Eastern Brazilian Pegmatite Province.
Additionally, SI6 plans to take on REE, PGE, gold and base metals prospective projects in Ceará and Apuí in Brazil, also in close proximity to Meteoric Resources NL’s major ionic adsorption clay REE Mineral Resource.
Si6 Metals granted the exclusive right to acquire 50% interest in a Brazilian exploration portfolio from Foxfire Metals, with the projects being prospective for Lithium, Rare Earth Elements, Gold, Base Metals, and Platinum Group Elements.
The portfolio includes 10 licenses and license applications spread over 17,000 hectares in three different states of Brazil, including significant project areas such as Lithium Valley and Caldera.
The acquisition is subject to a 30-day exclusive due diligence period, an Independent Expert's Report, and Si6 shareholder approval before proceeding to a joint venture.
New JV Licenses issued in Botswana for Si6 Metals Limited's wholly-owned subsidiary Africa Metals (Pty) Ltd, covering the advanced Ni-Cu-Co-PGE resource at Maibele North and high-grade Cu-Ag discoveries at Airstrip and Dibete prospects.
Ownership of JV Licenses is 60% by Africa Metals and 40% by BCL Investments (Pty) Ltd.
Planning for exploration and drilling activities at the JV Licenses is currently underway, with historical drilling programs forming the basis for resource calculations.