Verity Resources (ASX:VRL) has extended its exploration expenditure commitment for its Brazilian projects by 12 months, following promising results from its Pimenta project. A reconnaissance program, designed to investigate radiometric signatures, identified significant rare earth element (REE), gallium, and titanium anomalies. Surface sampling revealed REE results of up to 25,817 parts per million total rare earth oxides (TREO), with 25% being high-value magnet rare earths. The program also identified gallium surface samples reaching 89 grams per tonne and titanium samples up to 9.26%.
The results confirm a mineralisation style potentially similar to American Rare Earths’ Halleck Creek deposit, which holds a 2.63 billion tonne resource at 3,292ppm TREO. Verity Resources holds a 70% interest in the Pimenta project and a 50% joint venture (JV) interest in a portfolio of nine Brazilian projects, encompassing REE, gold, lithium, and other base and precious metals. The extension of the exploration commitment, originally requiring a $1 million outlay, now extends to February 2026.
