Si6 Metals (ASX:SI6) is gearing up to launch its second drill program at licence 830.892/2023, as part of the company’s Caldera Project in Minas Gerais.
The licence borders Meteoric Resources’ (ASX:MEI) project areas and is considered prospective for ionic adsorption clay (IAC) hosted rare earths.
Drilling will comprise 10 auger holes with 150m spacings covering the entire licence area and will be running concurrently with the auger drill program on Si6’s southern Caldera Project licence — which has already begun to test the depth of anomalous rare earths returned from surface sampling.
Managing Director Jim Malone says: “The licence sits inside the highly prospective Poços de Caldas Alkaline Complex in Minas Gerais and abuts Meteoric Resources’ IAC REE areas where we aim to replicate their exploration success.
We are sending a second drill rig to run this program that will commence early April 2024 and demonstrates our plan to aggressively explore our strategic acquired projects in Brazil.”
Licence 830.892/2023 is the second Caldera project licence that Si6 has been granted. Caldera lies in South Minas Gerais, Brazil, and is considered prospective for rare earths.
Si6 Metals is a diversified critical minerals explorer focused on its portfolio of projects in Botswana, Brazil, and Western Australia.
The company’s Botswana portfolio contains three flagship projects where ‘high-grade’ Cu-Ag (Airstrip and Dibete) and a maiden JORC inferred resource (Maibele North) have been discovered.
Maibele North currently hosts a JORC (2012) inferred resource of 2.4Mt @ 0.72% Ni and 0.21% Cu + PGE’s + Co + Au and is located within 50km of the Selebi mine recently acquired by TSX-listed Premium Nickel Resources (TSX-V:PNRL).
Si6 has also entered a joint venture to acquire 50% of a portfolio of critical metals exploration assets from Foxfire Metals, predominantly focused on rare earth elements and lithium in Brazil including projects amongst known discoveries in the Lithium Valley (North Minas Gerais) and Poços de Caldas (South Minas Gerais).
Write to Aaliyah Rogan at Mining.com.au
Images: Si6 Metals
