Exploration Program Update at Salambidwe

DY6 Metals Ltd (ASX: DY6, “DY6” or “Company”) is pleased to advise that it has successfully completed an extensive geochemical sampling and geological mapping program at the highly prospective Salambidwe REE and Nb project in southern Malawi.

Salambidwe sits within the Salambidwe Ring Complex, part of the Chilwa Alkaline province of southern Malawi that also hosts the Kangankunde Deposit, Machinga REE Project and numerous other REE prospects.

The complex is approximately six kilometres in diameter (approximately 85% occurs within the Company’s licence) and is dominated by syenite and nepheline syenite with a core of agglomeratic rocks. These alkaline rock suites are known hosts to a variety of critical minerals based on historical geochemical sampling work completed by Global Metals & Mining (ASX:GBE) in 2010/12 (refer DY6 ASX announcement dated 27/06/23).

The prospect has never been drilled.

Figure 1: Map location of Salambidwe Project

The Company has collected approximately 500 soil and rock chip samples over 50-line kilometres within the project. Samples have been sent to Kitwe, Zambia for preparation followed by dispatch to the lab in Perth for analysis. Results are expected in late January 2024.

Following completion of the geochemical program, the Company has commenced an airborne geophysical program at Salambidwe, which will consist of 45-line kilometres of electromagnetic plus radiometric surveying to map the magnetic and conductive properties of the geology at Salambidwe.

The data promises to be more detailed compared to the data obtained by the previous survey, the Geological Mapping and Mineral Assessment Project (GEMMAP), which had lapses due to the model and technicality of the survey. The combined geochemical and geophysical data is aimed at refining targets prior to a maiden drill program.

The Hon. Ms Monica Chang’anamuno, Malawi's Minister of Mining, attended the launch of the airborne program last week (refer Figure 3). The Minister’s attendance gives assurance of the government’s continued support for mining and commitment in attracting foreign investment into the country.

Figure 2: Geochemical Sampling Program within Salambidwe Prospect (now completed)

Figure 3: Malawi's Minister of Mining, Hon. Ms Monica Chang’anamuno (centre) at the launch of DY6’s airborne survey for Salambidwe on 29 November 2023

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