Si6 Metals secures $1.5m for exploration programs

Si6 Metals Limited (ASX: $SI6) has successfully raised $1.50 million through the issuance of 375 million shares at $0.004 per share with a 1:1 listed option and piggyback option. The funds will primarily be used to advance the Company's exploration programs at the Brazil Rare Earth Element (REE) and Lithium Projects, in addition to progressing exploration in Botswana and Western Australia, conducting a strategic review of the portfolio, assessing expansion opportunities in Brazil, and for general working capital purposes.

Executive Commentary on Fundraising and Exploration Strategy

Si6's Managing Director, Mr. Jim Malone, expressed his enthusiasm, stating, 'Si6 is thrilled to receive such strong support for the Company and its exploration strategy in Brazil, which continues to emerge as a global hotspot for critical metals such as rare earth elements and lithium. The funds raised will enable Si6 to accelerate exploration at our critical metals joint venture projects in Brazil. Si6 has already commenced early-stage exploration in Brazil and now looks forward to expanding this program towards drilling. We will also use the funds raised to progress activities in Botswana and Western Australia, as well as to conduct a strategic review of our exploration portfolio.'

Summary of Si6 Metals' Fundraising and Exploration Plans

Si6 Metals has successfully secured $1.50 million to advance its exploration programs, particularly in Brazil where it has acquired a 50% interest in Rare Earth Element (REE) and Lithium Projects. The funds will also be allocated to progress exploration in Botswana and Western Australia, conduct a strategic review of the Company's portfolio, assess expansion opportunities in Brazil, and for general working capital purposes. The Company's aggressive exploration roadmap for the next six months includes sampling results due in early April, a second phase Brazil exploration program commencing mid-March, and a planned auger drilling program for REEs in late April through May and June. The Company also anticipates receiving final assay results from the Maible North drilling program in Botswana in the next two weeks, as well as results from the exploration program at the Monument gold project in Laverton, WA, which will commence in the second half of March with results due in late April. Si6 Metals aims to leverage the raised funds to accelerate its exploration activities and capitalize on the emerging opportunities in critical metals in Brazil and other regions.