Hi @Knight16 and @coto, The SI6 ASX ( Ann 2 May 2024 ) marked a...

Hi @Knight16 and @coto,

The SI6 ASX ( Ann 2 May 2024 ) marked a point of transition for SI6 (and IMO, JM). It has the consequence that any of Foxfire's extensive tenement portfolio in Brazil could become part of the JV without prior notice, without EGM, and without dilution or debt. Since that time we have seen this occur with the acquisition of very prospective tenements at Pimenta ( ASX Ann 23 May 2024 ).

IMO the exploration at Padre Paraiso was an extension of the auger program at Caldera. It might have indicated something about FF tenements 30 km south of SI6:830504/2023 where there is an eTh high zone. The explorers did not seem to be interested in looking for Spodumene ( chipping real rocks from outcrops or carrying a LIBS device ). The work was planned and executed before 2 May, but it was SI6's next best REE prospect in Minas Gerais at the time.
.

Now SI6:830504/2023 is also in a transition zone. The pale green contour in the bottom right corner of the screenshot above is at 53 ppm eTh. In the top left the FF tenements in a higher eTh zone (over 64 ppm) can be seen in a southerly direction on the horizon. In Minas Gerais there is a relationship between the eTh level and the registered commodity on the Tenement Application. The average eTh in a REE application is 49.8 ppm, whereas for an Li Application it is 35.7 ppm. This is not surprising because the conditions for formation of Spodumene are not met if there is concurrent high energy eruptive activity nearby. Nevertheless, even at 54 ppm and given SI6's current portfolio of tenements, it is not SI6's best REE prospect.

But is it SI6's best Li prospect? IMO the answer prior to 2 May was no. It was SI6:832540/2022. The 23 May ann did not change that, but overnight a future FF tenement inclusion into the JV could.

The kmz file included below, used with Google Earth ( URL ) shows all of the SI6 and FF tenements in Lithium Valley and in the Padre Paraiso eTh field. Just download the file and drag onto the browser window. The tenements of Sigma (SGML) and LRS at Colina are also included to show Spodumene prospects. The SI6 auger hole locations are also marked. The description of each includes an estimate of the K/Rb ratio using Kperc from maps, so it is only indicative.

There is little doubt that the outlook for SI6 changed dramatically on 23 May.

So sit tight and enjoy the ride.

GLTALTH
========================
SI6 ~ Auger Holes ~ Padre Paraiso MG (20240602).kmz.txt