Si6 Metals acquired a 50% stake in a substantial Brazilian exploration portfolio from Foxfire Metals.

The acquisition grants the company access to 17,000 hectares across 10 exploration licenses in prime Brazilian locations.

As part of the transaction, Si6 issued 209 million fully paid ordinary shares and an equal number of options to Foxfire Metals.

Si6 plans to initiate exploration at the Caldera Rare Earth Element Project this month, followed by activities in Lithium Valley later in 2024.