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VERITY RESOURCES LIMITED — Capital/Financing Update 2025
Apr 28, 2025
66020_rns_2025-04-28_0c397e0f-21f8-42e1-b2bb-ac85cb9bafb2.pdf
Capital/Financing Update
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ASX Announcement
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SIGNIFICANT REE, GALLIUM AND TITANIUM ANOMALIES RETURN FROM PIMENTA PROJECT
HIGHLIGHTS
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Surface sampling program at Pimenta Project in Minas Gerais, Brazil returned significant rare earth elements up to 25,817ppm TREO (2.58% TREO) , with 25% high value magnet rare earths ( MREO )
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Significant Gallium surface samples also returned up to 89g/t Ga2O3
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Titanium samples also returned up to 9.26% TiO2
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The presence of Zircon (up to 8,619ppm ZrO2) and titanium-bearing minerals further enhances the Project’s polymetallic potential
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20km airborne geophysical signature previously identified has now been confirmed to align with high grade REE values
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Rock samples suggest a wide-spread allanite-hosted mineralisation, a similar geological signature to American Rare Earths Limited (ASX:ARR) Halleck Creek Project
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Additional anomalous elements returned from soil and rock chips including up to 110ppm Li and 421ppm Nb2O5
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Pimenta Project is located within a well-developed mining region in northern Minas Gerais, Brazil, with access to roads and power
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Brazil joint venture expenditure commitment term extended by 12 months to February 2026
Verity Resources Limited ( ASX:VRL , Verity or the Company ) is pleased to report the results from its reconnaissance program completed at the Pimenta Project, located in the northeast of Minas Gerais State, Brazil. The program was designed to investigate radiometric anomalies identified in airborne surveys and evaluate their potential for economic mineralisation.
A total of 137 surface samples were collected over a 20km airborne radiometric anomaly zone, returning Total Rare Earth Oxide ( TREO ) values up to 25,817ppm TREO (sample RBS-117). These high-grade results strongly correlate with airborne radiometric anomalies and confirm the potential for a significant rare earth element ( REE ) system enriched in critical metals.
In addition, high grade gallium returned up to 89g/t Ga2O3 (RBS-035). China currently accounts for approximately 98% of the world's gallium production. In mid-2023, China introduced export restrictions on both gallium and other critical metals, leading to supply shortages and subsequent price increases. Gallium is primarily used in electronics and is also a critical material in the production of semiconductors. With
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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ongoing supply constraints, gallium is currently priced at approximately US$243k/metric ton[1] .
Geological reconnaissance at the Project indicates that REE mineralisation is hosted in a medium-to coarsegrained granite basement, rich in allanite, a REE-bearing sorosilicate. Residual soils and saprolites derived from weathered granite show further enrichment, with a saprolite sample returning 2.6% TREO with 25% proportion of high-value magnetic rare earths ( MREO ).
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Figure 1. TREO distribution over Thorium airborne radiometric image at Pimenta Project. Two high grade multi-element target areas identified over anomalous strike zones (Target 1 and Target 2)
Surface samples were collected across multiple lithologies, including rock, saprolite and soil. Soil samples returned up to 4,635ppm TREO, with an average of 2,006ppm TREO across 58 samples. Saprolite samples averaged 3,908ppm TREO, including the sample returning 25,817 ppm TREO (2.6% TREO ), highlighting strong enrichment. Rock samples averaged 1,241ppm TREO, with several assays exceeding 3,000ppm TREO, comparable to grades seen in large-scale deposits. The geochemistry signature suggests allanite mineralisation, a REE-rich epidote group mineral resistant to weathering, leading to enrichment in overlying
1 https://www.dailymetalprice.com/metalprices.php?c=ga&u=kg&d=20 price at 28 April 2025
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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soils and saprolites.
A detailed aerogeophysical survey conducted by CODEMIG in 2011 identified strong thorium and uranium radiometric anomalies throughout the Project area (refer Figure 1 thorium radiometric image). These anomalies are spatially associated with the highest TREO values in soil and rock samples, supporting the hypothesis that allanite-rich granites are the primary source of REE mineralisation.
Across all samples, the proportion of high value magnet rare earth elements averaged 25% MREO/TREO.
These results confirm a mineralisation style potentially similar to the American Rare Earths Limited (ASX:ARR) Halleck Creek allanite REE deposit with 2.63Bt @ 3,292 ppm TREO Resource (Measured + Indicated + Inferred)[2] .
Importantly, the REE geochemical signature remains consistent between rock and regolith samples, supporting a model of vertical enrichment via residual weathering.
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Figure 2. Sample RBS-117 collected from an exposed weathering profile with 25,817ppm TREO (25% MREO), 9.3%TiO2 and 8,619ppm ZrO2.
The Pimenta Project is underlain by coarse-grained porphyritic granite of Mesoproterozoic age, part of the regional Jacinto Granite Complex. This granite hosts allanite as the main REE carrier, often associated with
2 ASX:ARR Halleck Creek Project ASX release “Updated Scoping Study”, 24 February 2025.
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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accessory zircon. The weathering profile is well-developed, forming a thick saprolite horizon with preserved primary textures and significant residual REE enrichment. This has been supported by accessory elements returning up to 8,619ppm ZrO2 and 421ppm Nb2O5 . Significant titanium and lithium results were also received with values up to 9.26% TiO2 and 110ppm Li .
The Company intends to review the key target areas identified to inform future work programs for REE, gallium and other anomalous elements that may include grid sampling and potential auger drilling.
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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About the Pimenta Project
The Pimenta Project is located in the well-established mining region of northern Minas Gerais, Brazil. The Project targets a large, granite-hosted REE system enriched in rare earth elements (REE) and critical accessory minerals including lithium (Li), zirconium (Zr), niobium (Nb), and titanium (Ti), and gallium (Ga). The Project is centred on the Mesoproterozoic-age Santo Antônio do Jacinto Granite Complex, where allanite—a weathering-resistant REE-bearing mineral—hosts the majority of the rare earth mineralisation.
Early exploration has confirmed widespread, high-grade REE enrichment at surface, with saprolite samples returning up to 25,817 ppm TREO (2.6%) and soils up to 4,635 ppm TREO. The mineralisation is interpreted as residual, with consistent REE geochemistry between fresh granite and overlying regolith indicating limited mobility and favourable metallurgical properties. The geological setting, style of mineralisation, and grade profile are analogous to the nearby Halleck Creek deposit being advanced by American Rare Earths (ASX: ARR). Additionally, widespread gallium has been identified from surface sampling up to 89g/t Ga2O3.
Importantly, the Project benefits from excellent infrastructure, with proximity to sealed roads, hydroelectric power, and an experienced local workforce.
Brazil Joint Venture Update
The Company is also pleased to provide an update on its joint venture with Foxfire Metals Pty Ltd, whereby Verity holds a 50% joint venture interest in a portfolio of 9 Brazilian projects covering REE, Gold, Lithium and other base and precious metals, and 70% joint venture interest in the Pimenta REE Project ( JV Projects ). Under the terms of the joint venture, Verity agreed to spend a minimum of A$1,000,000 in exploration expenditure on the JV Projects within 12 months of execution of the agreement, which occurred on 8 February 2024 (refer ASX release 8 February 2024). As at 31 December 2024, Verity has spent ~$720,000 in exploration expenditure on the JV Projects (refer Half Year Accounts released to ASX on 14 March 2025 and Annual Report released on 30 September 2024).
Considering the recent market uncertainty and the Company’s recent focus on advancing its 100% owned 154koz Au Monument Gold Project, Verity and Foxfire Metals Pty Ltd have agreed to extend the minimum joint venture expenditure commitment term for a further 12 months to February 2026. Patrick Volpe, Non-Executive Director and Company Secretary, is director and substantial shareholder of Foxfire Metals Pty Ltd and abstained from the arms-length agreement.
-Ends-
This announcement has been authorised for release by the Board of Verity Resources Limited.
For further information, please contact:
Verity Resources Limited
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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About Verity Resources
Verity Resources owns 100% of the Monument Gold project located near Laverton in Western Australia. This project currently has a JORC-compliant (2012) Inferred resource of 3.257 Mt @ 1.4 g/t for 154,000 ounces Au. (inferred resources calculated by CSA Global in 2021 to JORC 2012 compliance using a 0.5 g/t cut-off grade; see 2 August 2021 ASX announcement “Mineral Resources Estimate declared for Monument Gold Project “for further information).
Verity Resources also holds a supply critical metals portfolio via a joint venture that includes rare earth elements, lithium, gold, base and precious metals in Brazil, including licences in the “Lithium Valley” and Poços de Caldas in the state of Minas Gerais, globally known as prolific lithium and rare earth elements districts respectively. The Company also owns 70% of the Pimenta Project, a potential large-scale REE project in eastern Minas Gerais.
Verity Resources also holds large base and precious metals projects in the Limpopo Mobile Belt in Botswana, a district known for hosting major nickel and copper-producing operations. The Company’s Botswana portfolio contains three flagship projects where high-grade Cu-Ag (Airstrip and Dibete) and a Maiden JORC Inferred Resource (Maibele North) have been discovered. Maibele North currently hosts a JORC (2012) inferred resource of 2.4Mt @ 0.72% Ni and 0.21% Cu + PGE’s + Co + Au and is located within 50km of the Selebi-Phikwe mine recently acquired by TSX-listed Premium Nickel Resources Ltd (TSX-V:PNRL).
Competent Persons Statement (Brazil)
The information in this report that relates to exploration results is based on information compiled by Mr. Antonio de Castro, BSc (Hons), MAusIMM, CREA, who acts as consultant to the Company. Mr. de Castro has sufficient experience which is relevant to the type of deposit under consideration and to the reporting of exploration results to qualify as a competent person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Castro consents to the report being issued in the form and context in which it appears.
Disclaimer
In relying on the above mentioned ASX announcement and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the above announcement. No material exploration data or results are included in this document that have not previously been released publicly. The source of all data or results have been referenced.
Forward-Looking Statements
This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning the Company’s mineral properties, planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may,” "potential," "should," and similar expressions are forward looking statements. All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, which could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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Monument Gold Project, Western Australia, Resource Information
| Korong Resource | |||
|---|---|---|---|
| Deposit | Tonnes | Grade(g/t) | Au(Oz) |
| Korong | 3,034,000 | 1.4 | 139,000 |
| Waihi | 223,000 | 2.1 | 15,000 |
| Total | 3,257,000 | 1.4 | 154,000 |
Table 2: JORC-compliant (2012) Inferred Resource was calculated at Korong and Waihi by CSA Global Pty Ltd in 2021 (see Table 2) using a
0.5g/t cut-off grade. See ASX announcement on 2 August 2021 “Mineral Resource Estimate Declared for Monument Gold Project”.
Reference to Previous Announcements
The information in this announcement that relates to exploration results is extracted from the following Company announcement released to the ASX:
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31 January 2025 “ Quarterly Activities Report and Appendix 5B ”
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23 May 2024 “ Si6 Secures Prospective Rare Earths Project”
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8 February 2024 “Acquisition of Brazilian Exploration Portfolio Complete”
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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Schedule 1 – Sampling Results
| SampleID | Sample **Type ** |
TREO **ppm ** |
MREO **ppm ** |
MREO/ TREO % |
DyTb **ppm ** |
NdPr **ppm ** |
Ga2O3 **ppm ** |
Li **ppm ** |
Nb2O5 **ppm ** |
TiO2 % |
ZrO2 ppm |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RBS-002 | Rock | 1,547 | 354 | 23 | 10 | 345 | 56 | 11 | 59 | 0.86% | 663 |
| RBS-013 | Rock | 717 | 166 | 23 | 4 | 162 | 31 | 18 | 26 | 0.44% | 349 |
| RBS-014 | Rock | 947 | 197 | 21 | 10 | 187 | 33 | 28 | 77 | 0.62% | 495 |
| RBS-015 | Soil | 1,524 | 380 | 25 | 13 | 367 | 61 | 12 | 57 | 0.87% | 771 |
| RBS-016 | Soil | 1,510 | 380 | 25 | 10 | 370 | 45 | 26 | 37 | 0.82% | 617 |
| RBS-017 | Soil | 2,452 | 582 | 24 | 15 | 567 | 55 | 16 | 63 | 1.02% | 1,037 |
| RBS-018 | Rock | 1,667 | 412 | 25 | 16 | 397 | 39 | 33 | 50 | 0.71% | 589 |
| RBS-019 | Rock | 728 | 171 | 23 | 6 | 166 | 33 | 22 | 30 | 0.45% | 327 |
| RBS-020 | Soil | 2,313 | 561 | 24 | 14 | 547 | 64 | 19 | 66 | 1.17% | 1,067 |
| RBS-021 | Soil | 2,670 | 676 | 25 | 15 | 661 | 61 | 12 | 59 | 1.29% | 1,063 |
| RBS-022 | Rock | 1,685 | 444 | 26 | 11 | 433 | 39 | 25 | 57 | 1.00% | 828 |
| RBS-023 | Soil | 2,767 | 672 | 24 | 16 | 656 | 31 | 11 | 72 | 1.19% | 1,426 |
| RBS-024 | Soil | 4,635 | 1,208 | 26 | 27 | 1,181 | 29 | 12 | 80 | 1.83% | 2,458 |
| RBS-025 | Soil | 2,351 | 604 | 26 | 13 | 590 | 13 | 5 | 43 | 1.12% | 1,441 |
| RBS-026 | Rock | 593 | 150 | 25 | 5 | 146 | 35 | 15 | 17 | 0.38% | 317 |
| RBS-027 | Soil | 1,768 | 455 | 26 | 9 | 445 | 55 | 12 | 37 | 1.06% | 862 |
| RBS-028 | Soil | 859 | 211 | 25 | 5 | 206 | 33 | 5 | 29 | 0.61% | 688 |
| RBS-029 | Soil | 2,112 | 535 | 25 | 13 | 522 | 37 | 5 | 54 | 1.03% | 1,058 |
| RBS-031 | Soil | 1,858 | 498 | 27 | 12 | 486 | 31 | 17 | 39 | 1.00% | 1,000 |
| RBS-032 | Soil | 1,389 | 360 | 26 | 9 | 351 | 44 | 42 | 51 | 0.83% | 684 |
| RBS-033 | Rock | 1,125 | 291 | 26 | 8 | 284 | 33 | 71 | 31 | 0.68% | 536 |
| RBS-034 | Rock | 32 | 9 | 28 | - | 9 |
65 | 100 | 162 | 0.11% | 56 |
| RBS-035 | Rock | 1,325 | 344 | 26 | 13 | 331 | 89 | 110 | 175 | 0.23% | 490 |
| RBS-036 | Soil | 3,103 | 855 | 28 | 20 | 836 | 9 | 11 | 37 | 1.03% | 1,332 |
| RBS-037 | Rock | 1,415 | 391 | 28 | 9 | 383 | 32 | 31 | 24 | 0.80% | 637 |
| RBS-038 | Soil | 1,778 | 478 | 27 | 11 | 467 | 61 | 24 | 49 | 1.22% | 854 |
| RBS-039 | Rock | 1,774 | 487 | 27 | 9 | 478 | 37 | 38 | 36 | 1.21% | 1,025 |
| RBS-040 | Soil | 1,385 | 366 | 26 | 9 | 357 | 39 | 28 | 36 | 0.87% | 816 |
| RBS-041 | Soil | 1,677 | 454 | 27 | 11 | 443 | 32 | 22 | 34 | 0.81% | 749 |
| RBS-042 | Rock | 1,341 | 370 | 28 | 8 | 362 | 35 | 28 | 23 | 0.78% | 734 |
| RBS-043 | Soil | 1,321 | 339 | 26 | 9 | 329 | 21 | 16 | 31 | 0.60% | 683 |
| RBS-044 | Rock | 1,653 | 445 | 27 | 8 | 437 | 36 | 40 | 16 | 1.15% | 1,132 |
| RBS-045 | Soil | 2,031 | 562 | 28 | 10 | 552 | 55 | 22 | 23 | 1.22% | 855 |
| RBS-046 | Rock | 2,016 | 545 | 27 | 12 | 533 | 40 | 38 | 30 | 1.23% | 1,079 |
| RBS-047 | Soil | 2,053 | 464 | 23 | 12 | 452 | 75 | 13 | 67 | 1.24% | 776 |
| RBS-048 | Soil | 2,883 | 778 | 27 | 14 | 765 | 56 | 18 | 34 | 1.46% | 1,369 |
| RBS-049 | Rock | 1,620 | 443 | 27 | 8 | 435 | 37 | 33 | 19 | 0.91% | 778 |
| RBS-050 | Soil | 412 | 135 | 33 | 3 | 131 | 56 | 19 | 7 | 0.27% | 133 |
| RBS-051 | Rock | 250 | 57 | 23 | 2 | 55 | 33 | 11 | 7 | 0.07% | 135 |
| RBS-052 | Soil | 2,111 | 512 | 24 | 15 | 497 | 57 | 19 | 64 | 0.87% | 1,262 |
| RBS-053 | Soil | 835 | 199 | 24 | 6 | 193 | 47 | 36 | 36 | 0.43% | 317 |
| RBS-054 | Rock | 638 | 146 | 23 | 6 | 141 | 37 | 25 | 39 | 0.38% | 470 |
| RBS-058 | Soil | 1,892 | 525 | 28 | 8 | 517 | 44 | 21 | 23 | 0.96% | 885 |
| RBS-059 | Rock | 2,094 | 599 | 29 | 12 | 587 | 35 | 36 | 21 | 0.98% | 994 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| SampleID | Sample **Type ** |
TREO **ppm ** |
MREO **ppm ** |
MREO/ TREO % |
DyTb **ppm ** |
NdPr **ppm ** |
Ga2O3 **ppm ** |
Li **ppm ** |
Nb2O5 **ppm ** |
TiO2 % |
ZrO2 ppm |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RBS-060 | Rock | 1,665 | 454 | 27 | 9 | 445 | 37 | 28 | 23 | 0.87% | 772 |
| RBS-061 | Soil | 1,688 | 457 | 27 | 10 | 447 | 59 | 27 | 40 | 0.86% | 593 |
| RBS-062 | Mineral Concentrat e |
634 | 173 | 27 | 4 | 169 | 33 | 12 | 7 | 0.29% | 217 |
| RBS-063 | Rock | 750 | 210 | 28 | 5 | 204 | 40 | 20 | 20 | 0.43% | 352 |
| RBS-065 | Rock | 1,719 | 403 | 23 | 14 | 389 | 32 | 22 | 64 | 0.81% | 720 |
| RBS-066 | Rock | 426 | 100 | 23 | 5 | 95 | 36 | 5 | 21 | 0.11% | 118 |
| RBS-067 | Rock | 1,308 | 366 | 28 | 7 | 359 | 36 | 22 | 44 | 0.62% | 546 |
| RBS-068 | Soil | 1,828 | 473 | 26 | 12 | 461 | 55 | 12 | 54 | 0.91% | 950 |
| RBS-069 | Rock | 777 | 226 | 29 | 9 | 216 | 29 | 14 | 24 | 0.25% | 173 |
| RBS-070 | Soil | 3,984 | 1,042 | 26 | 27 | 1,015 | 13 | 5 | 66 | 1.18% | 2,132 |
| RBS-071 | Rock | 3,116 | 803 | 26 | 22 | 781 | 17 | 5 | 57 | 0.97% | 1,316 |
| RBS-072 | Rock | 707 | 180 | 25 | 6 | 175 | 35 | 22 | 23 | 0.39% | 315 |
| RBS-073 | Rock | 801 | 198 | 25 | 7 | 191 | 32 | 32 | 27 | 0.49% | 356 |
| RBS-074 | Rock | 811 | 186 | 23 | 7 | 179 | 39 | 36 | 43 | 0.41% | 363 |
| RBS-075 | Soil | 1,078 | 254 | 24 | 7 | 247 | 45 | 45 | 50 | 1.07% | 653 |
| RBS-076 | Rock | 1,114 | 254 | 23 | 7 | 247 | 49 | 26 | 41 | 0.90% | 540 |
| RBS-077 | Rock | 889 | 209 | 24 | 6 | 204 | 37 | 33 | 40 | 0.88% | 532 |
| RBS-078 | Saprolite | 1,470 | 340 | 23 | 10 | 330 | 39 | 32 | 44 | 0.66% | 553 |
| RBS-079 | Soil | 328 | 72 | 22 | 2 | 70 | 43 | 29 | 19 | 0.31% | 119 |
| RBS-080 | Rock | 1,445 | 324 | 22 | 9 | 315 | 27 | 33 | 43 | 0.58% | 556 |
| RBS-081 | Saprolite | 499 | 113 | 23 | 4 | 109 | 37 | 15 | 23 | 0.29% | 193 |
| RBS-082 | Saprolite | 1,035 | 277 | 27 | 8 | 269 | 39 | 22 | 27 | 0.41% | 316 |
| RBS-083 | Soil | 1,687 | 387 | 23 | 11 | 377 | 48 | 13 | 41 | 0.72% | 692 |
| RBS-084 | Rock | 1,110 | 285 | 26 | 8 | 277 | 35 | 17 | 30 | 0.57% | 486 |
| RBS-086 | Soil | 1,753 | 435 | 25 | 11 | 424 | 25 | 10 | 41 | 0.75% | 869 |
| RBS-087 | Rock | 884 | 212 | 24 | 6 | 206 | 28 | 21 | 23 | 0.52% | 372 |
| RBS-088 | Soil | 2,603 | 644 | 25 | 16 | 628 | 15 | 5 | 49 | 0.95% | 1,186 |
| RBS-089 | Rock | 1,294 | 360 | 28 | 8 | 352 | 29 | 17 | 26 | 0.68% | 555 |
| RBS-091 | Soil | 1,640 | 437 | 27 | 9 | 428 | 44 | 44 | 30 | 0.84% | 786 |
| RBS-092 | Rock | 578 | 155 | 27 | 4 | 151 | 33 | 21 | 24 | 0.27% | 526 |
| RBS-093 | Rock | 1,544 | 411 | 27 | 9 | 402 | 37 | 20 | 27 | 0.76% | 564 |
| RBS-094 | Rock | 1,141 | 303 | 27 | 7 | 296 | 40 | 26 | 27 | 0.64% | 523 |
| RBS-096 | Soil | 2,582 | 657 | 25 | 16 | 641 | 23 | 13 | 31 | 0.73% | 1,309 |
| RBS-097 | Rock | 1,165 | 306 | 26 | 8 | 299 | 35 | 27 | 21 | 0.45% | 456 |
| RBS-098 | Soil | 2,060 | 560 | 27 | 8 | 553 | 51 | 31 | 24 | 1.18% | 934 |
| RBS-099 | Rock | 278 | 77 | 28 | 2 | 75 | 29 | 12 | 7 | 0.22% | 207 |
| RBS-101 | Rock | 1,741 | 442 | 25 | 8 | 434 | 41 | 36 | 30 | 0.96% | 1,063 |
| RBS-102 | Rock | 1,872 | 502 | 27 | 9 | 493 | 44 | 27 | 24 | 1.01% | 912 |
| RBS-103 | Soil | 3,134 | 783 | 25 | 13 | 769 | 43 | 5 | 54 | 1.66% | 1,521 |
| RBS-104 | Soil | 2,250 | 589 | 26 | 10 | 580 | 73 | 5 | 37 | 1.33% | 1,060 |
| RBS-105 | Soil | 3,381 | 891 | 26 | 14 | 877 | 33 | 13 | 46 | 1.53% | 1,904 |
| RBS-106 | Rock | 2,199 | 583 | 27 | 10 | 573 | 48 | 56 | 24 | 1.17% | 974 |
| RBS-107 | Rock | 1,810 | 482 | 27 | 8 | 474 | 40 | 63 | 20 | 1.10% | 923 |
| RBS-108 | Rock | 765 | 193 | 25 | 6 | 187 | 37 | 5 | 19 | 0.45% | 301 |
| RBS-109 | Rock | 1,620 | 417 | 26 | 8 | 409 | 41 | 37 | 27 | 0.72% | 573 |
| RBS-111 | Rock | 2,070 | 540 | 26 | 9 | 531 | 40 | 32 | 21 | 1.13% | 957 |
| RBS-112 | Rock | 1,975 | 484 | 25 | 11 | 473 | 35 | 25 | 43 | 1.11% | 1,037 |
| RBS-113 | Rock | 1,481 | 402 | 27 | 9 | 393 | 41 | 33 | 30 | 0.67% | 485 |
| RBS-114 | Soil | 1,649 | 396 | 24 | 9 | 388 | 56 | 28 | 40 | 0.83% | 549 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| SampleID | Sample **Type ** |
TREO **ppm ** |
MREO **ppm ** |
MREO/ TREO % |
DyTb **ppm ** |
NdPr **ppm ** |
Ga2O3 **ppm ** |
Li **ppm ** |
Nb2O5 **ppm ** |
TiO2 % |
ZrO2 ppm |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RBS-116 | Saprolite | 1,278 | 304 | 24 | 6 | 298 | 41 | 24 | 36 | 0.56% | 570 |
| RBS-117 | Saprolite | 25,817 | 6,343 | 25 | 133 | 6,209 | 3 | 65 | 421 | 9.26% | 8,619 |
| RBS-118 | Rock | 599 | 143 | 24 | 5 | 138 | 51 | 49 | 26 | 0.30% | 346 |
| RBS-119 | Soil | 2,078 | 500 | 24 | 11 | 488 | 21 | 36 | 41 | 0.72% | 1,025 |
| RBS-121 | Rock | 873 | 205 | 23 | 5 | 200 | 41 | 28 | 27 | 0.48% | 432 |
| RBS-122 | Rock | 2,713 | 635 | 23 | 14 | 620 | 41 | 27 | 59 | 1.79% | 823 |
| RBS-123 | Rock | 725 | 167 | 23 | 6 | 161 | 35 | 28 | 29 | 0.70% | 391 |
| RBS-124 | Soil | 1,180 | 261 | 22 | 7 | 254 | 44 | 17 | 26 | 0.51% | 530 |
| RBS-125 | Soil | 942 | 205 | 22 | 5 | 199 | 52 | 12 | 24 | 0.43% | 530 |
| RBS-126 | Rock | 447 | 93 | 21 | 4 | 88 | 35 | 22 | 7 | 0.24% | 322 |
| RBS-127 | Rock | 364 | 74 | 20 | 3 | 71 | 32 | 18 | 7 | 0.22% | 143 |
| RBS-128 | Soil | 1,150 | 252 | 22 | 6 | 246 | 31 | 30 | 26 | 0.52% | 566 |
| RBS-129 | Rock | 1,862 | 470 | 25 | 10 | 459 | 37 | 34 | 34 | 1.05% | 924 |
| RBS-130 | Soil | 1,902 | 451 | 24 | 12 | 439 | 55 | 37 | 53 | 1.39% | 627 |
| RBS-131 | Soil | 2,237 | 491 | 22 | 14 | 477 | 63 | 25 | 67 | 1.14% | 1,143 |
| RBS-132 | Rock | 514 | 124 | 24 | 6 | 119 | 39 | 31 | 27 | 0.34% | 218 |
| RBS-133 | Soil | 1,585 | 380 | 24 | 12 | 368 | 57 | 28 | 44 | 0.72% | 483 |
| RBS-134 | Rock | 587 | 141 | 24 | 3 | 138 | 35 | 28 | 19 | 0.35% | 262 |
| RBS-135 | Rock | 1,407 | 337 | 24 | 10 | 326 | 48 | 30 | 47 | 0.72% | 527 |
| RBS-136 | Rock | 1,155 | 277 | 24 | 8 | 269 | 40 | 5 | 27 | 0.39% | 273 |
| RBS-137 | Rock | 2,050 | 541 | 26 | 12 | 529 | 40 | 43 | 34 | 1.12% | 1,299 |
| RBS-139 | Soil | 4,032 | 1,061 | 26 | 16 | 1,045 | 8 | 21 | 64 | 1.78% | 1,982 |
| RBS-141 | Rock | 1,712 | 461 | 27 | 9 | 451 | 43 | 32 | 31 | 1.38% | 984 |
| RBS-142 | Soil | 4,318 | 1,163 | 27 | 18 | 1,145 | 43 | 13 | 70 | 1.92% | 2,483 |
| RBS-143 | Rock | 1,672 | 445 | 27 | 8 | 437 | 44 | 25 | 29 | 1.11% | 872 |
| RBS-144 | Rock | 33 | 8 | 24 | 1 | 7 | 1 | 5 | 7 | 0.02% | 16 |
| RBS-146 | Rock | 1,225 | 321 | 26 | 10 | 311 | 40 | 30 | 31 | 0.65% | 515 |
| RBS-147 | Soil | 1,016 | 251 | 25 | 5 | 246 | 67 | 14 | 24 | 0.63% | 351 |
| RBS-148 | Soil | 4,599 | 1,216 | 26 | 22 | 1,195 | 31 | 5 | 59 | 1.57% | 2,324 |
| RBS-149 | Saprolite | 706 | 176 | 25 | 4 | 172 | 49 | 12 | 16 | 0.49% | 299 |
| RBS-150 | Soil | 1,848 | 429 | 23 | 11 | 418 | 63 | 16 | 69 | 1.28% | 824 |
| RBS-151 | Rock | 1,038 | 226 | 22 | 9 | 217 | 44 | 29 | 49 | 0.88% | 534 |
| RBS-152 | Soil | 1,427 | 324 | 23 | 11 | 314 | 51 | 23 | 62 | 1.08% | 636 |
| RBS-153 | Rock | 1,734 | 416 | 24 | 9 | 407 | 31 | 21 | 26 | 0.91% | 838 |
| RBS-154 | Soil | 876 | 187 | 21 | 6 | 181 | 55 | 5 | 31 | 0.63% | 503 |
| RBS-155 | Soil | 624 | 131 | 21 | 4 | 127 | 43 | 5 | 16 | 0.36% | 246 |
| RBS-156 | Rock | 223 | 48 | 22 | 2 | 47 | 19 | 5 | 7 | 0.16% | 91 |
| RBS-157 | Saprolite | 266 | 52 | 20 | 1 | 50 | 73 | 11 | 7 | 0.27% | 79 |
| RBS-158 | Saprolite | 193 | 44 | 23 | 3 | 42 | 43 | 11 | 17 | 0.10% | 53 |
| RBS-159 | Soil | 2,379 | 611 | 26 | 11 | 600 | 47 | 11 | 34 | 0.96% | 884 |
| RBS-161 | Soil | 239 | 55 | 23 | 2 | 53 | 47 | 5 | 7 | 0.18% | 121 |
| RBS-162 | Rock | 1,911 | 527 | 28 | 7 | 519 | 35 | 26 | 16 | 1.07% | 851 |
| RBS-163 | Soil | 2,585 | 661 | 26 | 11 | 649 | 68 | 5 | 40 | 1.56% | 1,479 |
| RBS-164 | Rock | 1,814 | 479 | 26 | 9 | 470 | 40 | 28 | 20 | 1.08% | 924 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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Schedule 2 – Sample Locations
| SampleID | Tenement | **Sample Type ** | Easting | Northing | Elevation |
|---|---|---|---|---|---|
| RBS-002 | 830.395/2024 | Rock | 373,334 | 8,175,695 | 457 |
| RBS-013 | 830.385/2024 | Rock | 361,215 | 8,193,168 | 628 |
| RBS-014 | 830.385/2024 | Rock | 361,215 | 8,193,168 | 628 |
| RBS-015 | 830.385/2024 | Soil | 361,215 | 8,193,168 | 628 |
| RBS-016 | 830.385/2024 | Soil | 361,215 | 8,193,168 | 628 |
| RBS-017 | 830.385/2024 | Soil | 359,858 | 8,191,931 | 561 |
| RBS-018 | 830.385/2024 | Rock | 359,858 | 8,191,931 | 561 |
| RBS-019 | 830.385/2024 | Rock | 359,858 | 8,191,931 | 561 |
| RBS-020 | 830.385/2024 | Soil | 359,619 | 8,191,584 | 558 |
| RBS-021 | 830.385/2024 | Soil | 358,721 | 8,190,944 | 588 |
| RBS-022 | 830.385/2024 | Rock | 358,757 | 8,191,023 | 568 |
| RBS-023 | 830.385/2024 | Soil | 358,543 | 8,190,616 | 588 |
| RBS-024 | 830.385/2024 | Soil | 358,543 | 8,190,616 | 589 |
| RBS-025 | 830.385/2024 | Soil | 358,552 | 8,190,496 | 584 |
| RBS-026 | 830.385/2024 | Rock | 358,552 | 8,190,496 | 584 |
| RBS-027 | 830.385/2024 | Soil | 358,493 | 8,190,185 | 584 |
| RBS-028 | 830.385/2024 | Soil | 358,433 | 8,190,137 | 586 |
| RBS-029 | 830.385/2024 | Soil | 359,065 | 8,191,732 | 620 |
| RBS-031 | 830.389/2024 | Soil | 364,617 | 8,188,040 | 418 |
| RBS-032 | 830.389/2024 | Soil | 364,656 | 8,188,060 | 424 |
| RBS-033 | 830.389/2024 | Rock | 364,698 | 8,188,031 | 390 |
| RBS-034 | 830.389/2024 | Rock | 364,698 | 8,188,031 | 390 |
| RBS-035 | 830.389/2024 | Rock | 364,656 | 8,188,060 | 424 |
| RBS-036 | 830.389/2024 | Soil | 364,614 | 8,188,155 | 439 |
| RBS-037 | 830.389/2024 | Rock | 364,614 | 8,188,155 | 439 |
| RBS-038 | 830.389/2024 | Soil | 363,891 | 8,188,288 | 521 |
| RBS-039 | 830.389/2024 | Rock | 364,177 | 8,188,253 | 519 |
| RBS-040 | 830.389/2024 | Soil | 364,177 | 8,188,253 | 519 |
| RBS-041 | 830.389/2024 | Soil | 364,870 | 8,188,957 | 439 |
| RBS-042 | 830.389/2024 | Rock | 364,814 | 8,188,814 | 466 |
| RBS-043 | 830.389/2024 | Soil | 364,814 | 8,188,814 | 466 |
| RBS-044 | 830.386/2024 | Rock | 360,253 | 8,188,387 | 606 |
| RBS-045 | 830.386/2024 | Soil | 360,367 | 8,188,123 | 598 |
| RBS-046 | 830.386/2024 | Rock | 360,168 | 8,188,054 | 583 |
| RBS-047 | 830.386/2024 | Soil | 359,995 | 8,187,992 | 617 |
| RBS-048 | 830.386/2024 | Soil | 361,712 | 8,188,312 | 628 |
| RBS-049 | 830.386/2024 | Rock | 361,712 | 8,188,312 | 628 |
| RBS-050 | 830.386/2024 | Soil | 359,298 | 8,186,980 | 706 |
| RBS-051 | 830.381/2024 | Rock | 357,671 | 8,184,608 | 578 |
| RBS-052 | 830.381/2024 | Soil | 357,671 | 8,184,608 | 578 |
| RBS-053 | 830.381/2024 | Soil | 357,671 | 8,184,608 | 578 |
| RBS-054 | 830.381/2024 | Rock | 357,671 | 8,184,608 | 578 |
| RBS-058 | 830.389/2024 | Soil | 363,510 | 8,187,744 | 430 |
| RBS-059 | 830.389/2024 | Rock | 363,510 | 8,187,744 | 430 |
| RBS-060 | 830.386/2024 | Rock | 363,396 | 8,187,868 | 417 |
| RBS-061 | 830.386/2024 | Soil | 363,396 | 8,187,868 | 417 |
| RBS-062 | 830.386/2024 | Feldspar mass | 363,396 | 8,187,868 | 417 |
| RBS-063 | 830.386/2024 | Rock | 363,019 | 8,188,023 | 464 |
| RBS-065 | 830.387/2024 | Rock | 360,495 | 8,183,615 | 670 |
| RBS-066 | 830.387/2024 | Rock | 360,495 | 8,183,615 | 670 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| SampleID | Tenement | **Sample Type ** | Easting | Northing | Elevation |
|---|---|---|---|---|---|
| RBS-067 | 830.387/2024 | Rock | 358,241 | 8,183,201 | 652 |
| RBS-068 | 830.387/2024 | Soil | 358,241 | 8,183,201 | 652 |
| RBS-069 | 830.387/2024 | Rock | 358,241 | 8,183,201 | 652 |
| RBS-070 | 830.382/2024 | Soil | 356,355 | 8,183,542 | 516 |
| RBS-071 | 830.382/2024 | Rock | 356,355 | 8,183,542 | 516 |
| RBS-072 | 830.382/2024 | Rock | 356,020 | 8,183,741 | 532 |
| RBS-073 | 830.382/2024 | Rock | 355,173 | 8,183,821 | 509 |
| RBS-074 | 830.382/2024 | Rock | 354,589 | 8,183,662 | 517 |
| RBS-075 | 830.388/2024 | Soil | 367,464 | 8,195,326 | 545 |
| RBS-076 | 830.388/2024 | Rock | 367,464 | 8,195,326 | 545 |
| RBS-077 | 830.388/2024 | Rock | 367,464 | 8,195,326 | 545 |
| RBS-078 | 830.388/2024 | Saprolite | 365,653 | 8,192,252 | 479 |
| RBS-079 | 830.388/2024 | Soil | 365,588 | 8,192,270 | 473 |
| RBS-080 | 830.388/2024 | Rock | 365,653 | 8,192,252 | 479 |
| RBS-081 | 830.388/2024 | Saprolite | 366,021 | 8,190,717 | 413 |
| RBS-082 | 830.389/2024 | Saprolite | 367,536 | 8,188,873 | 343 |
| RBS-083 | 830.389/2024 | Soil | 367,536 | 8,188,873 | 343 |
| RBS-084 | 830.392/2024 | Rock | 368,313 | 8,189,669 | 351 |
| RBS-086 | 830.392/2024 | Soil | 368,287 | 8,189,727 | 350 |
| RBS-087 | 830.391/2024 | Rock | 369,286 | 8,188,795 | 344 |
| RBS-088 | 830.391/2024 | Soil | 369,286 | 8,188,795 | 344 |
| RBS-089 | 830.389/2024 | Rock | 367,683 | 8,187,643 | 424 |
| RBS-091 | 830.389/2024 | Soil | 367,683 | 8,187,643 | 424 |
| RBS-092 | 830.389/2024 | Rock | 367,683 | 8,187,643 | 424 |
| RBS-093 | 830.389/2024 | Rock | 367,683 | 8,187,643 | 424 |
| RBS-094 | 830.391/2024 | Rock | 368,691 | 8,187,456 | 473 |
| RBS-096 | 830.391/2024 | Soil | 368,691 | 8,187,456 | 473 |
| RBS-097 | 830.391/2024 | Rock | 369,816 | 8,186,056 | 585 |
| RBS-098 | 830.391/2024 | Soil | 369,816 | 8,186,056 | 585 |
| RBS-099 | 830.391/2024 | Rock | 369,816 | 8,186,056 | 585 |
| RBS-101 | 830.395/2024 | Rock | 372,317 | 8,179,567 | 649 |
| RBS-102 | 830.395/2024 | Rock | 372,317 | 8,179,567 | 649 |
| RBS-103 | 830.395/2024 | Soil | 372,317 | 8,179,567 | 649 |
| RBS-104 | 830.395/2024 | Soil | 372,487 | 8,179,552 | 645 |
| RBS-105 | 830.395/2024 | Soil | 372,487 | 8,179,552 | 645 |
| RBS-106 | 830.395/2024 | Rock | 373,081 | 8,179,994 | 597 |
| RBS-107 | 830.395/2024 | Rock | 373,081 | 8,179,994 | 597 |
| RBS-108 | 830.394/2024 | Rock | 373,227 | 8,180,371 | 565 |
| RBS-109 | 830.394/2024 | Rock | 372,822 | 8,181,789 | 560 |
| RBS-111 | 830.394/2024 | Rock | 372,686 | 8,184,054 | 564 |
| RBS-112 | 830.394/2024 | Rock | 373,003 | 8,184,228 | 557 |
| RBS-113 | 830.393/2024 | Rock | 371,726 | 8,185,292 | 433 |
| RBS-114 | 830.393/2024 | Soil | 372,325 | 8,185,805 | 400 |
| RBS-116 | 830.393/2024 | Saprolite | 373,330 | 8,186,510 | 421 |
| RBS-117 | 830.393/2024 | Saprolite | 373,330 | 8,186,510 | 421 |
| RBS-118 | 830.393/2024 | Rock | 373,306 | 8,188,016 | 405 |
| RBS-119 | 830.393/2024 | Soil | 373,306 | 8,188,016 | 405 |
| RBS-121 | 830.393/2024 | Rock | 373,275 | 8,189,307 | 404 |
| RBS-122 | 830.396/2024 | Rock | 375,305 | 8,190,447 | 352 |
| RBS-123 | 830.396/2024 | Rock | 375,305 | 8,190,447 | 352 |
| RBS-124 | 830.396/2024 | Soil | 375,305 | 8,190,447 | 352 |
| RBS-125 | 830.396/2024 | Soil | 375,688 | 8,190,783 | 411 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| SampleID | Tenement | **Sample Type ** | Easting | Northing | Elevation |
|---|---|---|---|---|---|
| RBS-126 | 830.396/2024 | Rock | 375,688 | 8,190,783 | 411 |
| RBS-127 | 830.396/2024 | Rock | 375,980 | 8,190,436 | 541 |
| RBS-128 | 830.396/2024 | Soil | 375,980 | 8,190,436 | 541 |
| RBS-129 | 830.397/2024 | Rock | 377,835 | 8,182,033 | 492 |
| RBS-130 | 830.397/2024 | Soil | 377,805 | 8,182,090 | 490 |
| RBS-131 | 830.397/2024 | Soil | 377,055 | 8,181,917 | 529 |
| RBS-132 | 830.397/2024 | Rock | 377,093 | 8,181,858 | 546 |
| RBS-133 | 870.268/2024 | Soil | 375,897 | 8,180,531 | 496 |
| RBS-134 | 870.268/2024 | Rock | 375,897 | 8,180,531 | 496 |
| RBS-135 | 870.268/2024 | Rock | 376,019 | 8,179,615 | 506 |
| RBS-136 | 830.395/2024 | Rock | 374,816 | 8,178,303 | 483 |
| RBS-137 | 830.395/2024 | Rock | 374,024 | 8,178,661 | 538 |
| RBS-139 | 830.395/2024 | Soil | 373,546 | 8,178,486 | 503 |
| RBS-141 | 830.395/2024 | Rock | 373,557 | 8,178,484 | 503 |
| RBS-142 | 830.395/2024 | Soil | 373,343 | 8,178,123 | 517 |
| RBS-143 | 830.395/2024 | Rock | 373,343 | 8,178,123 | 517 |
| RBS-144 | 830.395/2024 | Rock | 373,343 | 8,178,123 | 517 |
| RBS-146 | 830.395/2024 | Rock | 373,524 | 8,178,232 | 494 |
| RBS-147 | 830.395/2024 | Soil | 373,663 | 8,177,758 | 492 |
| RBS-148 | 830.395/2024 | Soil | 373,524 | 8,178,232 | 494 |
| RBS-149 | 830.395/2024 | Saprolite | 373,663 | 8,177,758 | 492 |
| RBS-150 | 870.268/2024 | Soil | 372,288 | 8,178,928 | 445 |
| RBS-151 | 870.268/2024 | Rock | 372,288 | 8,178,928 | 445 |
| RBS-152 | 870.268/2024 | Soil | 372,084 | 8,176,042 | 467 |
| RBS-153 | 870.268/2024 | Rock | 372,084 | 8,176,042 | 467 |
| RBS-154 | 830.397/2024 | Soil | 373,070 | 8,175,744 | 543 |
| RBS-155 | 830.397/2024 | Soil | 372,947 | 8,176,159 | 517 |
| RBS-156 | 830.397/2024 | Rock | 372,947 | 8,176,159 | 517 |
| RBS-157 | 830.395/2024 | Saprolite | 373,023 | 8,175,934 | 436 |
| RBS-158 | 830.395/2024 | Saprolite | 373,023 | 8,175,934 | 436 |
| RBS-159 | 830.395/2024 | Soil | 379,032 | 8,185,901 | 450 |
| RBS-161 | 830.395/2024 | Soil | 379,090 | 8,185,624 | 435 |
| RBS-162 | 830.395/2024 | Rock | 377,906 | 8,175,596 | 521 |
| RBS-163 | 830.395/2024 | Soil | 377,348 | 8,175,063 | 603 |
| RBS-164 | 830.395/2024 | Rock | 377,348 | 8,175,063 | 603 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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APPENDIX A JORC CODE, 2012 Edition
Section 1 – Sampling Techniques and Data for historic work
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Sampling techniques |
- Nature and quality of sampling (eg channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. - Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. - Aspects of the determination of mineralisation that are Material to the Public Report. - In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
Collection of rock, saprolite and soil samples of approximately 2 kg/sample were logged, bagged and photographed to send SGS laboratory for sample preparation and assaying. |
| Drilling techniques |
- Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face sampling bit or other type, whether _core is oriented and if so, by what method, etc). _ |
• No drilling has been conducted to date. |
| Drill sample recovery |
- Method of recording and assessing core and chip sample recoveries and results assessed. - Measures taken to maximise sample recovery and ensure representative nature of the samples. - Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain offline/coarse material. |
• No drilling has been conducted to date. |
| Logging | - Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. - Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. - The total length and percentage of the relevant intersections logged. |
• No drilling has been conducted to date. |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Sub-sampling techniques and sample preparation |
- If core, whether cut or sawn and whether quarter, half or all core taken. - If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. - For all sample types, the nature, quality and appropriateness of the sample preparation technique. - Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. - Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. - Whether sample sizes are appropriate to the grain size of the material being sampled. |
• rock, saprolite and soil samples were submitted to SGS-GEOSOL laboratory located in Vespasiano, Minas Gerais state, Brazil. • Samples preparation comprise: • Drying at 105º C • Crushing 90% < 2mm • Homogenization and splitting with Jones splitter. • Pulverization: The 250 to 300g sub-sample was pulverized using a steel mill until 90% of the sample particles achieved a fineness below 200 mesh. |
| Quality of assay data and laboratory tests |
- The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. - For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. - Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) andprecision have been established. |
1 blank sample, 1 certified reference material (standard) sample and 1 field duplicate sample were inserted by company into each 25 sample sequence. Standard laboratory QA/QC procedures were followed, including inclusion of standard, duplicate and blank samples. The assay technique used was Sodium Peroxide Fusion ICP OES / ICP MS (SGS code ICM90A). The sample preparation and assay techniques used are industry standard and provide total analysis. The SGS laboratory used for assays is ISO 9001 and 14001 and 17025 accredited. |
| Verification of sampling and assaying |
- The verification of significant intersections by either independent or alternative company personnel. - The use of twinned holes. - Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. - Discuss any adjustment to assay data. |
Apart from the routine QA/QC procedures by the Company and the laboratory, there was no other independent or alternative verification of sampling and assaying procedures. Primary data collection follows a structured protocol, with standardized data entry procedures ensure that any issues are identified and rectified. All data is stored both in physical forms, such as hard copies and electronically, in secure databases with regular backups. The adjustments to the data were made transforming the element values into the oxide values. The conversion factors used are included in the table below. (Source:https://www.jcu.edu.au/advanced- analyticalcentre/resources/element-to- stoichiometric-oxide-conversionfactors). Element ppm Conversion Factor Oxide Form Ce 1.2284 CeO2 Dy 1.1477 Dy2O3 Er 1.1435 Er2O3 |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| Criteria | JORC Code Explanation | Commentary | Commentary | ||
|---|---|---|---|---|---|
| Eu 1.1579 Eu2O3 Gd 1.1526 Gd2O3 Ho 1.1455 Ho2O3 La 1.1728 La2O3 Lu 1.1371 Lu2O3 Nd 1.1664 Nd2O3 Pr 1.2082 Pr6O11 Sm 1.1596 Sm2O3 Tb 1.1762 Tb4O7 Tm 1.1421 Tm2O3 Y 1.2699 Y2O3 Yb 1.1387 Yb2O3 Ga 1.3442 Ga2O3 Nb 1.4305 Nb2O5 Ti 1.6681 TiO2 Rare earth oxide is the industry accepted form for reporting rare earths. The following calculations are used for compiling REO into their reporting and evaluation groups: TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Y2O3 + Lu2O3 MREO (Magnetic Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 NdPr = Nd2O3 + Pr6O11 DyTb = Dy2O3 + Tb4O7 |
Eu | 1.1579 | Eu2O3 | ||
| Gd | 1.1526 | Gd2O3 | |||
| Ho | 1.1455 | Ho2O3 | |||
| La | 1.1728 | La2O3 | |||
| Lu | 1.1371 | Lu2O3 | |||
| Nd | 1.1664 | Nd2O3 | |||
| Pr | 1.2082 | Pr6O11 | |||
| Sm | 1.1596 | Sm2O3 | |||
| Tb | 1.1762 | Tb4O7 | |||
| Tm | 1.1421 | Tm2O3 | |||
| Y | 1.2699 | Y2O3 | |||
| Yb | 1.1387 | Yb2O3 | |||
| Ga | 1.3442 | Ga2O3 | |||
| Nb | 1.4305 | Nb2O5 | |||
| Ti | 1.6681 | TiO2 | |||
| Location of data points |
- Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. - Specification of the grid system used. - Quality and adequacy of topographic control. |
The UTM WGS84 zone 24S grid datum is used for current reporting. The surface samples coordinates reported are currently controlled by hand-held GPS. |
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| Data spacing and distribution |
- Data spacing for reporting of Exploration Results. - Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. - Whether sample compositing has been applied. |
Surface samples were designed for reconnaissance testing targets for REE. The data spacing and distribution is sufficient to establish the level of REE elements present in the target area. No sample composition was applied. |
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| Orientation of data in relation to geological structure |
- Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. - If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
The location and depth of the sampling is appropriate for the deposit type. Relevant REE values are compatible with the exploration model for allanite-hosted REE deposit. |
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| Sample security | - The measures taken to ensure sample security. | Samples were collected by field person and carefully packed in labelled plastic bags. Once packaged, the samples were transported by contracted freight company directly to the SGS-GEOSOL facility in Vespasiano,Minas Gerais state. The samples were |
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Verity Resources Limited | ASX: VRL ACN 122 995 073
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| secured during transportation to ensure no tampering, contamination, or loss. Chain of custody was maintained from the field to the laboratory, with proper documentation accompanying each batch of samples to ensure transparency and traceabilityof the entire sampling process. |
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| Audits or reviews | - The results of any audits or reviews of sampling techniques and data. |
As of the current reporting date, no external audits or review have been conducted on the sampling techniques, assay data, or results obtained from this work. However, internal processes and checks were carried out consistently to ensure the quality and reliabilityof the data. |
Section 2 – Reporting of Exploration Results
| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
- Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. - The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
All samples were acquired from the below tenement 70% owned by Verity Resources Pty Ltd via a joint venture agreement with Foxfire Metals Pty Ltd. 830.379/2024, 830.381/2024, 830.382/2024, 830.385/2024, 830.386/2024, 830.387/2024, 830.388/2024, 830.389/2024, 830.391/2024, 830.392/2024, 830.393/2024, 830.394/2024, 830.395/2024, 830.396/2024, 830.397/2024, 870.268/2024 Area: 30,075.34 hectares Status: Exploration Licence |
| Exploration done by other parties |
- Acknowledgment and appraisal of exploration by other parties. |
No known exploration for REE has been carried out on the exploration licences area. No known exploration for other minerals is known over the licences area. |
| Geology | - Deposit type, geological setting and style of mineralisation. |
The Pimenta Project hosts a granitic allanite-type REE mineralisation style, with mineralisation occurring both in weathered regolith (soil and saprolite) and in the fresh porphyritic granite bedrock. The REEs are primarily hosted in allanite, a resistant mineral enriched in light rare earth elements (LREEs). The mineralisation style is residual, with geochemical continuity from fresh rock to weathered zones, indicating enrichment without significant REE mobility. The geological setting comprises coarse-grained, porphyritic biotite granites of Mesoproterozoic age, part of the Santo Antonio do Jacinto Granite Complex in northern Minas Gerais, Brazil. These granites host primary REE-bearing minerals, predominantly allanite, often associated with zircon, thorite and magnetite, within a structurally coherent and foliated intrusive body. The mineralisation style is characterized by residual enrichment of TREO within the saprolite and soil horizon, developed through deepweatheringof the hostgranite. |
| Drill hole Information |
- A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all material drill holes: oeasting and northing of the drill hole collar oelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole |
No drilling has been conducted to date. |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
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| Criteria | JORC Code Explanation | Commentary |
|---|---|---|
collarodip and azimuth of the hole odown hole length and interception depth ohole length. - If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. |
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| Data aggregation methods |
- In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. - Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. - The assumptions used for any reporting of metal equivalent values should be clearly stated. |
No data aggregation techniques were applied. |
| Relationship between mineralisation widths and intercept lengths |
- These relationships are particularly important in the reporting of Exploration Results. - If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. - If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect _(eg ‘down hole length, true width not known’). _ |
Mineralisation orientation is not known at this stage. |
| Diagrams | - Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
Maps and tables of the samples location and target location are inserted. |
| Balanced reporting |
- Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
Highlights of the mineralised results are reported in the body of the text with available results from every samples in the period reported in Table 1 for balanced reporting. |
| Other substantive exploration data |
- Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
No other significant exploration data has been acquired by the Company. |
| Further work | - The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). - Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
Review of target areas displayed in Figure 1 of the announcement, for additional soil and grid sampling and potential auger drilling. Further drill targets, when identified will have drilling permits sought and drilled to determine the potential scale of mineralisation present. |
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073
JORC Code Explanation Commentary
Criteria
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832 High Street Kew East VIC 3102 [email protected]
Verity Resources Limited | ASX: VRL ACN 122 995 073