Verity Extends JV Commitment Amid Promising but Untested REE and Gallium Anomalies

Significant Rare Earth and Critical Metal Anomalies Confirmed

Verity Resources Limited (ASX: VRL) has announced compelling results from its reconnaissance surface sampling program at the Pimenta Project in Minas Gerais, Brazil. The program, designed to follow up on airborne radiometric anomalies, returned exceptionally high concentrations of Total Rare Earth Oxide (TREO), with peak values reaching 25,817ppm (2.58% TREO). This level of enrichment strongly validates the presence of a significant rare earth element (REE) system enriched in critical metals.

Alongside rare earths, the sampling revealed notable gallium grades up to 89g/t Ga2O3. Given that China controls approximately 98% of global gallium production and has recently imposed export restrictions, these findings position Pimenta as a potentially strategic source amid ongoing supply constraints and rising prices. Titanium and zirconium anomalies were also significant, with titanium oxide (TiO2) concentrations up to 9.26% and zirconium oxide (ZrO2) up to 8,619ppm, underscoring the polymetallic nature of the deposit.

Geological Context and Mineralisation Style

The REE mineralisation at Pimenta is hosted within medium- to coarse-grained Mesoproterozoic granites rich in allanite, a REE-bearing sorosilicate mineral. The weathering profile has produced a thick saprolite horizon with residual enrichment of rare earths, particularly magnetic rare earth oxides (MREO), which constitute about 25% of the TREO. This mineralisation style is geologically analogous to the Halleck Creek allanite-hosted REE deposit in the United States, operated by American Rare Earths Limited (ASX: ARR), which boasts a substantial resource base.

Importantly, the geochemical signature remains consistent from fresh granite through to weathered regolith, indicating limited mobility of REEs and suggesting favourable metallurgical characteristics. The project’s location within a well-established mining region with access to roads and hydroelectric power further enhances its development potential.

Strategic Joint Venture and Exploration Outlook

Pimenta is held under a joint venture with Foxfire Metals Pty Ltd, where Verity Resources holds a 70% interest. The company has extended its minimum exploration expenditure commitment by 12 months to February 2026, reflecting a strategic decision to balance advancing this polymetallic project with its focus on the 100% owned Monument Gold Project in Western Australia.

Verity plans to build on these promising reconnaissance results with targeted grid sampling and potential auger drilling to delineate the extent and continuity of mineralisation. The polymetallic nature of the project, including lithium, niobium, and other critical metals, offers multiple avenues for value creation as global demand for supply-critical materials intensifies.

While no drilling has yet been conducted, the robust surface geochemistry and geophysical data provide a strong foundation for future resource definition work. The company’s methodical approach and the project’s infrastructure advantages position Pimenta as a noteworthy emerging asset in the critical metals sector.