Verity Resources Uncovers New Gold Trend and Launches Major Drilling Campaign
Verity Resources has identified a new gold mineralised trend near its Monument Gold Project and commenced a significant drilling program to upgrade its Korong deposit resource. Meanwhile, high-grade rare earth elements have been confirmed at its Pimenta project in Brazil.
- New gold mineralised trend discovered at Triton Prospect, 5km from Korong deposit
- 3,600m reverse circulation drilling program underway to upgrade Korong resource to Indicated status
- Appointment of Dr. Rick Gordon as Strategic Advisor to oversee technical and mining licence efforts
- Pimenta Project surface sampling reveals high-grade rare earth elements, gallium, and titanium anomalies
- Fully subscribed $1.1 million rights issue completed to fund exploration activities
New Gold Horizons at Monument
Verity Resources Limited has made a compelling advance in its flagship Monument Gold Project located in Western Australia's Laverton Gold District. The recent air core drilling at the Triton Prospect has confirmed a new mineralised gold trend approximately 5 kilometres northwest of the existing Korong deposit. This discovery is particularly notable as the mineralisation at Triton mirrors the structural characteristics of the nearby Fred’s Well prospect, suggesting a promising new structural corridor for exploration.
The gold mineralisation at Triton appears predominantly supergene, indicating secondary enrichment that could be sourced from higher-grade primary mineralisation at depth. This finding opens up fresh exploration avenues parallel to the known Korong-Waihi trend, with follow-up deeper drilling planned to test for primary mineralisation.
Resource Upgrade Drilling Commences
Korong currently hosts approximately 139,000 ounces of gold within a 3.03 million tonne resource at 1.4 grams per tonne. The drilling campaign aims to increase geological confidence through infill and twinning of historical drill holes, with completion expected within three weeks, weather permitting.
Strategic Expertise Added
To guide these technical efforts, Verity has appointed Dr. Rick Gordon, a structural geologist with over 25 years’ experience, as Strategic Advisor. Dr. Gordon’s background includes leadership roles at Northern Star Resources and IGO Limited, bringing valuable expertise in structural interpretation, resource growth, and mining licence processes. His involvement signals Verity’s commitment to advancing Monument towards production readiness.
Critical Minerals Potential in Brazil
Meanwhile, at the Pimenta REE-Gallium-Titanium Project in Minas Gerais, Brazil, surface sampling has revealed significant rare earth element (REE) concentrations, with total rare earth oxides (TREO) reaching up to 2.58%. The samples also showed notable gallium and titanium anomalies, alongside elevated niobium and zirconium levels. These multi-element anomalies extend over a 20-kilometre strike, supported by airborne radiometric surveys indicating a large thorium anomaly.
Verity has commenced an auger drilling program to test the lateral and depth continuity of these mineralised zones. While still at an early stage, the scale and grade of mineralisation at Pimenta position it as a potentially significant critical minerals asset.
Capital and Corporate Developments
To fund these exploration initiatives, Verity successfully completed a fully subscribed renounceable rights issue, raising approximately $1.1 million. The company also saw the expiry of 54.1 million listed options, simplifying its capital structure. At quarter end, Verity held $899,000 in cash, supporting ongoing and planned activities across its portfolio.
Verity continues to hold interests in copper-silver-nickel-PGE projects in Botswana, where it is evaluating potential corporate actions to maximise shareholder value.
Bottom Line?
With new gold corridors emerging and critical minerals prospects advancing, Verity Resources is poised for a pivotal phase of resource growth and project development.
Questions in the middle?
- Will the upcoming deeper drilling at Triton confirm high-grade primary gold mineralisation?
- How quickly can the Korong resource upgrade translate into mining licence approval and project development?
- What are the next steps and timelines for advancing the Pimenta REE project beyond early-stage exploration?
