Quarterly Activities Report
Perth, Jan 31, 2025 AEST (ABN Newswire) - Verity Resources Limited (
ASX:VRL) is pleased to provide its quarterly activities report for the three-month period ending 31 December 2024.
HIGHLIGHTS
Monument Gold, Western Australia
- Follow up infill drilling at Fred's Well Prospect completed and intersected gold mineralisation that confirms a 1.1km mineralised gold strike trend 2km northwest of the Monument Gold Project's nearsurface 3.2Mt @ 1.4g/t Au Korong Mineral Resource Estimate
- Results received post-quarter demonstrate a potentially new mineralised zone near surface to add to the current Resource Estimate. Latest and past results include
o 24m @ 3.24g/t Au (MOAC262 from 44m) including 12m @ 6.35g/t Au
o 8m @ 2.09g/t Au (MOAC265 from 40m)
o 8m @ 1.48g/t Au (MOAC256 from 36m)
o 12m @ 1.01g/t Au (MOAC277 from 20m)
o 10m @ 0.68g/t Au (FWRC002 from 52m) including 2m @ 2.28g/t Au
o 4m @ 1.00g/t Au (FWRC002 from 81m) including 1m @ 2.89g/t Au
- Pit optimisation studies to commence in 2025 on the near-surface Korong (3.0Mt @1.4g/t Au) and Waihi (0.2Mt @ 2.1g/t Au) deposits following significant increase in gold prices since Mineral Resource Estimation in 2021. Both MRE remain open in all directions
- Over 60 additional untested BIF, basalt and intrusion-hosted gold drill targets at the Monument Gold Project remain to be tested
Pimenta REE-Nb, Brazil
- Surface reconnaissance program commenced over a distinct 26km radiometric strike at the Pimenta Project in eastern Minas Gerais, with potential for allanite-hosted (similar to American Rare Earths Limited ASX-ARR 2.63Bt @ 3,926ppm TREO MRE) and clay-hosted REE and potentially niobium
- Program completed at quarter end and results expected in coming weeks Caldera REE, Brazil
- No activity for the quarter in addition to the previously announced ultra high grade Caldera prospect with previous auger drill intercepts including 5m @ 4,526ppm TREO and 34% MREO from surface
Copper-Silv r-Nickel-PGE, Botswana
- Discussions continuing for potential corporate event regarding the Botswana portfolio of projects including the Maibele North 2.4Mt @ 1% Niequiv JORC Inferred Resource, Dibete Copper-Silver (up to 13% Cu and 281g/t Ag) and Airstrip Copper-Silver (up to 57% Cu and 2,483g/t Ag)
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/7P7U764Q
About Verity Resources Ltd
Verity Resources Ltd (ASX:VRL) 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.
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 Pocos 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 a base and precious metals project 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).
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