Si6 Metals Deals Itself Into Additional Rare Earth Element Licenses

Si6 Metals Limited (ASX: Si6) has added further exploration licenses in Brazil prospective for rare earth elements (REE) after a deal with an unlisted company.

The 16 new licenses in north-east Minas Gerais cover 30,075 hectares (300km²) in north-east Minas Gerais.

These are prospective for both ionic adsorption clay-hosted (IAC) and allanite-hosted rare earth elements.

The deal is hot on the heels of Si6’s purchase of a 50% interest in 10 exploration licenses covering 17,000 hectares in Brazil from Foxfire Metals Pty Ltd.

Elephant country

That package includes three highly prospective rare earth elements (REE) licenses.

Two of these sit amongst Meteoric Resources (ASX: MEI) and Viridis Mining and Minerals (ASX: VMM) REE projects at the REE-rich Poços de Caldas Alkaline Complex in south Minas Gerais.

Three lithium licenses are located in the “Lithium Valley”, north Minas Gerais.

These are host to significant lithium spodumene discoveries by Latin Resources Limited (ASX: LRS), SIGMA Lithium Corporation (NASDAQ: SGML), and licenses recently acquired by Rio Tinto Limited (ASX: RIO).

While one licence in the state of Amazonas, is proximal to Brazilian Critical Minerals’ (ASX: BCM) discovery with a resource of 1.02Bt @ 793ppm TREO (including 331Mt @ 977ppm TREO).

This is one of the largest fully ionic clay rare earth deposits in the world.

Si6 Metals has upped the ante after the appointments of Ian Kiers as chair and Pat Volpe as director of the company.

 

Third largest global reserves

In 2023, production of rare earths in Brazil was estimated at 80 metric tons of rare-earth oxide equivalent.

While down from 500 tons a year earlier, Brazil has the third largest rare earth reserves in the world, estimated at 21 million metric tons of rare-earth oxide (REO).

 

 

 

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