Monument Gold Project Drilling Begins Amid Ambitious Resource Upgrade Plans
Verity Resources has launched a targeted aircore drilling campaign at its Monument Gold Project in Western Australia, aiming to upgrade and expand its existing gold resource. The program focuses on three promising prospects within a prolific gold district.
- 750m aircore drilling commenced at Star Well, Triton, and Korong West prospects
- Follow-up on previous gold anomalism including assays up to 6.17g/t Au at Star Well
- Resource upgrade drilling planned for June 2025 targeting 154koz Korong Mineral Resource
- Monument Gold Project covers ~195km tenure adjacent to Genesis Minerals’ 3.3Moz Laverton project
- Over 60 additional untested gold targets remain within the project area
Drilling Begins at Monument Gold Project
Verity Resources Limited (ASX: VRL) has commenced a focused aircore drilling program at its 100%-owned Monument Gold Project, situated in the highly regarded Laverton Gold District of Western Australia. The initial phase involves 19 holes totaling approximately 750 metres across three high-priority targets: Star Well, Triton, and Korong West.
This drilling campaign is designed to follow up on encouraging gold anomalism identified in previous surface sampling and earlier drilling efforts. Notably, the Star Well prospect has yielded rock chip assays up to 6.17 grams per tonne (g/t) gold, highlighting its potential as a significant mineralised zone.
Targeting Resource Upgrade and Expansion
Beyond the immediate aircore program, Verity is advancing a comprehensive resource upgrade strategy focused on the Korong Mineral Resource Estimate, which currently stands at 154,000 ounces of gold at an average grade of 1.4 g/t. A resource-focused drilling campaign is slated to begin in June 2025, aiming to convert inferred resources to the higher-confidence indicated category and potentially expand the resource base through targeted infill and step-out drilling.
The Korong West prospect, adjacent to the existing resource, is a key focus area for this upcoming program, with drilling planned to test prospective stratigraphy west of the current mineral resource boundary.
Strategic Location in a World-Class Gold District
The Monument Gold Project encompasses approximately 195 square kilometres of tenure along strike from Genesis Minerals’ 3.3 million ounce Laverton Gold Project, placing Verity in a prime position within one of Australia’s most prolific gold regions. Despite this, only about 10% of the prospective 20-kilometre strike length hosting banded iron formation and related mineralisation has been drilled to date, leaving a wealth of exploration upside.
Verity has identified over 60 additional untested targets within the project area, including banded iron formation, basalt, and intrusion-hosted gold prospects, underscoring the district-scale potential of Monument.
Looking Ahead
Samples from the current aircore drilling are expected to be submitted to ALS Kalgoorlie for assay shortly after completion, anticipated in early May. The company has committed to providing timely updates as results come to hand, which will be closely watched by investors eager to gauge the potential for resource growth and value enhancement.
Verity’s broader portfolio, including critical metals projects in Brazil and base and precious metals assets in Botswana, complements its gold exploration efforts, positioning the company as a diversified player in the mining sector.
Bottom Line?
As Verity Resources advances its drilling and resource upgrade plans, the coming months will be pivotal in defining the Monument Gold Project’s potential to deliver significant value.
Questions in the middle?
- Will the upcoming assays confirm high-grade extensions at Star Well and Triton prospects?
- How much can the Korong resource be upgraded and expanded with the planned June 2025 drilling?
- What impact will successful exploration have on Verity’s valuation and development timeline?
