Verity Resources Advances Monument Gold Project with Key Infill Drilling Completion
Verity Resources has completed a significant infill drilling program at its Korong deposit, aiming to upgrade its gold resource classification and pave the way for future development studies.
- Completion of ~3,600m infill reverse circulation drilling at Korong deposit
- Drilling targets upgrade from inferred to indicated resource confidence
- Samples sent for assay with results expected soon
- Monument Gold Project remains open for expansion with multiple targets
- Drilling supports upcoming metallurgical testing and mining licence application
Infill Drilling Milestone at Korong
Verity Resources Limited (ASX, VRL) has successfully completed the first phase of its resource upgrade drilling campaign at the Korong deposit, part of its wholly owned Monument Gold Project in Western Australia's prolific Laverton Goldfields. The program comprised 54 reverse circulation holes totaling approximately 3,630 metres, designed to increase geological confidence in the existing 139,000-ounce gold resource.
The drilling focused on a tightly spaced 25m by 25m infill grid and included twinning of historical holes to validate previous data. All holes reached their target depths, and samples have been dispatched to ALS laboratories, with assay results anticipated in the coming weeks. This phase is a critical step toward upgrading the Korong resource from an inferred to an indicated classification under the JORC 2012 code, a prerequisite for advancing to scoping and feasibility studies.
Strategic Importance of the Monument Gold Project
Located adjacent to Genesis Minerals’ 3.3 million-ounce Laverton Gold Project, Monument covers approximately 195 square kilometres of tenure along a 20-kilometre strike of banded iron formation. This geological setting is considered highly prospective, sharing characteristics with the nearby Westralia gold deposit, which hosts over 1.4 million ounces of gold.
Despite the promising geology, only about 10% of the potential strike length has been systematically drilled to date. Verity has identified over 60 additional targets across the project area, including banded iron formation, basalt, and intrusion-hosted gold prospects, underscoring significant upside potential beyond the current resource base.
Next Steps and Market Implications
Beyond the infill drilling, Verity is progressing with metallurgical sampling from selected drill holes to inform processing strategies and support the forthcoming mining licence application. The company’s methodical approach to upgrading resource confidence and expanding the deposit footprint aligns with industry best practices and positions Monument as a compelling development opportunity within the Laverton district.
Investors will be watching closely for assay results, which will provide the first tangible indication of whether the drilling has successfully confirmed and potentially enhanced the grade and continuity of mineralisation. Positive outcomes could materially improve the project’s valuation and attract further investment interest.
Bottom Line?
Verity’s drilling completion marks a pivotal step, but assay results will be the true test of Monument’s growth potential.
Questions in the middle?
- Will assay results confirm the expected upgrade from inferred to indicated resource classification?
- How will metallurgical testing influence the project’s processing and economic viability?
- What timeline is Verity targeting for the next phase of resource expansion and scoping studies?
