Brazil JV portfolio

On 8 February the company completed the acquisition of 50% interest in a Brazilian exploration portfolio from Foxfire Metals Pty Ltd. The projects include 10 exploration licenses comprising ~17,000 hectares in prime Brazilian exploration locations hosting world class REE adsorption clay deposits and significant lithium spodumene resources. The projects include two projects in the Caldera (Caldera and Caldera South) which sit amongst Meteoric Resources (ASX: MEI) and Viridis Mining and Metals Limited (ASX: VMM) REE projects at the REE rich Pocos de Caldas Alkaline complex in south Minas Gerais as well as licenses in the Lithium Valley in north Minas Gerais, a region known to host significant lithium spodumene resources discovered by Latin Resources Ltd (ASX: LRS), SIGMA Lithium Corporation (NASDAQ: SGML) and licenses recently acquired by Rio Tinto (ASX:RIO). There is also licenses at Apui in the Amazonas region of Brazil prospective for REE and gold and also in the Pedra Branca area (Ceara project) prospective for lithium and gold.

As part of the exploration program, Si6 is required to spend AUD$1 million minimum in year 1 (commencing 8 February 2024). The company has commenced exploration and announced in April and May it had commenced three auger drilling programs at the two Caldera projects in south Minas Gerais and also at the Padre Paraiso project in north Minas Gerais.