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Highlights:
Verity Resources has extended its expenditure commitment by 12 months after positive findings at the Pimenta project in Brazil.
A reconnaissance program revealed high-grade rare earth element (REE) signatures, along with gallium and titanium anomalies.
Surface sampling returned significant results, including high-value REE, gallium, and titanium.
Verity Resources (ASX:VRL) has recently made strides in its exploration efforts at the Pimenta project in Brazil. The company has extended its commitment to the project by an additional 12 months, in light of promising findings from its reconnaissance activities.
The Pimenta project, focused on exploring rare earth elements (REE), gallium, and titanium, has yielded encouraging results from an on-ground survey aimed at investigating radiometric anomalies. The survey was conducted in an area covering approximately 20 kilometers, previously identified through an airborne geophysical survey.
Significant Rare Earth Results
A key outcome from the recent surface sampling program is the identification of high-grade REE concentrations, with results showing notable levels of total rare earth oxides (TREO). Furthermore, a significant portion of these results were attributed to high-value magnet rare earths, which are vital for various industrial applications.
In addition to the REE results, the sampling program also detected elevated levels of gallium, with surface samples showing notable concentrations. Titanium was also present in considerable quantities, with some surface samples showing high levels. These findings contribute to the project's broader exploration of its polymetallic potential, which now includes rare earth elements alongside gallium and titanium.
Next Steps for Verity Resources
With the recent success of its reconnaissance program, Verity Resources plans to focus on further investigation of the key areas identified in the sampling results. Future work will likely involve grid sampling and auger drilling to gain a deeper understanding of the mineralization at Pimenta.
Additionally, the discovery of zircon and titanium-bearing minerals further strengthens the case for the Pimenta project’s polymetallic capabilities. These findings open the door for continued exploration of not only REE but also other important minerals.
The company also highlighted that the mineralization style observed at Pimenta is similar to that of the Halleck Creek allanite REE deposit, which is owned by American Rare Earths. This could indicate similarities in the mineralization processes between the two projects, offering further insight into the potential for REE extraction in the region.
As Verity Resources progresses with its exploration efforts at Pimenta, the company will continue to evaluate these findings and plan subsequent activities to build on the positive results from its surface sampling program.
