Verity Resources Extends Gold Mineralisation by 1.1km at Monument Project

Drilling Success at Fred's Well

Verity Resources Limited (ASX: VRL) has announced encouraging results from its recent infill aircore and reverse circulation drilling program at the Fred's Well Prospect, part of the Monument Gold Project in Western Australia's prolific Laverton Gold District. The latest assays confirm a 1.1-kilometre extension of gold mineralisation, reinforcing Fred's Well as a potentially significant new gold zone within the project.

The standout intercepts include a 24-metre interval grading 3.24 grams per tonne (g/t) gold, which contains a higher-grade 12-metre section at 6.35 g/t Au. Other notable results include 8 metres at 2.09 g/t Au and 12 metres at 1.01 g/t Au, demonstrating consistent mineralisation across multiple drill holes. These results build on previous drilling and historic workings, extending the known mineralised strike and confirming the prospect’s potential to contribute materially to Verity’s resource base.

Strategic Location and Resource Potential

The Monument Gold Project covers approximately 195 square kilometres and is strategically located adjacent to Genesis Minerals’ Mt Morgans Project, which hosts over 3.3 million ounces of gold. Verity’s Korong deposit within Monument currently holds an inferred resource of 3.0 million tonnes at 1.4 g/t Au for 139,000 ounces, with the Waihi deposit adding a further 15,000 ounces. Both deposits remain open in all directions, suggesting significant upside potential.

With gold prices having risen substantially since the last resource estimate in 2021, Verity plans to commence pit optimisation studies in 2025 for the Korong and Waihi deposits. These studies will evaluate the economic viability of near-surface mineralisation and inform future resource extension drilling programs.

Exploration Outlook and Future Drilling

Beyond Fred's Well, Verity has identified over 60 additional untested targets across the Monument Gold Project, including banded iron formation (BIF), basalt, and intrusion-hosted gold prospects. The company is undertaking detailed structural and geochemical analyses to refine drill targeting, leveraging multi-element pathfinder signatures associated with the mineralisation.

The recent drilling has also highlighted a complex geological setting with multiple mineralised contacts within a 100-metre-wide stratigraphic sequence. This complexity, combined with the project's scale and proximity to established gold operations, positions Verity well for further discoveries and resource growth.

Broader Company Portfolio

While the Monument Gold Project remains Verity’s flagship asset, the company also holds a diversified portfolio including critical metals projects in Brazil and base and precious metals projects in Botswana. This diversification provides exposure to lithium, rare earth elements, nickel, copper, and silver, complementing its gold exploration activities.

Verity’s disciplined approach to exploration, combined with its strategic landholdings in prolific mineral districts, underscores the company’s potential to deliver value through both resource expansion and discovery.