Resource Upgrade and Licence Hurdles Loom for Verity’s Monument Gold Ambitions
Verity Resources has appointed Dr Rick Gordon and Xirlatem Pty Ltd as strategic advisors to accelerate resource upgrades and expansion at its Monument Gold Project in Western Australia.
- Appointment of Dr Rick Gordon and Xirlatem as strategic advisors
- Imminent drilling to upgrade 154koz JORC Inferred Resource to Indicated category
- Mining licence application underway for Korong-Waihi Resource
- Monument Gold Project adjacent to Genesis Minerals’ Mt Morgans operation
- Significant untested exploration targets remain across 20km strike
Strategic Appointment to Drive Project Advancement
Verity Resources Limited (ASX, VRL) has taken a decisive step to advance its Monument Gold Project by appointing Xirlatem Pty Ltd and renowned structural geologist Dr Rick Gordon as strategic advisors. Dr Gordon, with over 25 years of experience and a strong track record at Northern Star Resources and IGO Ltd, will lead technical oversight across geology, drilling, resource growth, and future scoping studies.
This appointment signals Verity’s commitment to elevating the project’s profile and resource confidence, leveraging Dr Gordon’s expertise in structural geology and gold systems within the prolific Eastern Goldfields region.
Resource Upgrade and Expansion Strategy Underway
The Monument Gold Project currently hosts a JORC-compliant Inferred Resource of 154,000 ounces of gold, primarily at the Korong and Waihi deposits. Verity is poised to commence a targeted drilling program imminently, designed to upgrade this resource to the more certain Indicated category under the JORC (2012) Code.
Environmental Resources Management (ERM) has nearly completed a comprehensive review of historical drilling data, which will inform the infill and step-out drilling strategy. The goal is not only to upgrade the existing resource but also to explore the broader mineralised system along the largely underexplored 20km strike of banded iron formations and other geological targets.
Strategic Location and Growth Potential
Situated within Western Australia’s Laverton Gold District, the Monument Gold Project benefits from proximity to Genesis Minerals’ Mt Morgans Project, a 3.3 million ounce gold operation with a 3.1 million tonnes per annum mill. This adjacency underscores the district’s rich endowment and the potential for Verity’s project to scale significantly.
With over 60 additional untested targets identified, including banded iron formation, basalt, and intrusion-hosted gold styles, the project offers substantial exploration upside beyond the current resource footprint.
Regulatory Progress and Next Steps
Parallel to the drilling campaign, Verity has initiated the mining licence application process for the Korong-Waihi Resource, a critical step toward potential development. Dr Gordon’s role will extend to overseeing this process, as well as future mine optimisation and scoping studies that will underpin the company’s pathway to production.
Investors can expect further updates on drilling results, resource upgrades, and regulatory milestones as the company executes its strategy.
Bottom Line?
Verity’s strategic advisory appointment and imminent drilling mark a pivotal phase in unlocking Monument’s potential, with market eyes now on upcoming resource upgrades and licence progress.
Questions in the middle?
- How quickly can Verity convert the Inferred Resource to Indicated status following drilling?
- What are the timelines and prospects for mining licence approval at Korong-Waihi?
- How might Dr Gordon’s expertise influence exploration success across the numerous untested targets?
