Verity Resources Accelerates Monument Gold Project with Phase 2 Drilling Push

• Phase 2 drilling program of 6,400m to upgrade and expand gold resource
• Focus on Korong (139koz) and Waihi (15koz) deposits with infill and extension drilling
• Phase 1 drilling of 3,600m completed with assay results pending
• Resource upgrade target – moving from Inferred to Indicated confidence level
• Monument Gold Project strategically located near Genesis Minerals’ 3.3Moz Laverton project

Verity Resources Advances Monument Gold Project

Verity Resources Limited (ASX – VRL) has announced the commencement of its Phase 2 resource upgrade and expansion drilling program at the 100%-owned Monument Gold Project, situated in the prolific Laverton Goldfields of Western Australia. This next stage involves approximately 6,400 metres of combined diamond and reverse circulation drilling, targeting both resource infill and extensions at the Korong and Waihi deposits.

The Monument Gold Project currently hosts an inferred resource of 154,000 ounces of gold, with 139,000 ounces attributed to the Korong deposit and 15,000 ounces to Waihi. The Phase 2 drilling aims to upgrade this resource to an Indicated category by increasing geological confidence through infill drilling, while simultaneously testing high-grade down-plunge extensions that could expand the resource base.

Building on Phase 1 Foundations

Phase 1 drilling, completed in August, comprised 3,600 metres of reverse circulation drilling focused on infill and twin holes at Korong to support the upgrade of resource confidence and facilitate mining license progression. While assay results from this initial phase are still pending, the company is moving swiftly into Phase 2 to maintain momentum and capitalize on its fully funded position.

Phase 2 will include 77 drill holes; five diamond and seventy-two reverse circulation; targeting the most prospective zones within the inferred resource. This program is designed not only to upgrade the resource classification but also to explore deeper, higher-grade zones outside the current Mineral Resource Estimate (MRE), potentially unlocking further value.

Strategic Location and Untapped Potential

The Monument Gold Project benefits from its location adjacent to Genesis Minerals’ 3.3 million ounce Laverton Gold Project, which operates a 3.1 million tonnes per annum mill. The project tenure covers approximately 195 square kilometres along a 20-kilometre strike of banded iron formation, a geological setting known to host significant gold deposits such as the nearby 1.4 million ounce Westralia deposit.

Despite this promising setting, only about 10% of the potential strike length has been drilled in detail, leaving a substantial number of targets; over 60 identified across various geological styles; still to be tested. Verity’s fully funded status and aggressive drilling schedule position it well to explore these opportunities in the near term.

Looking Ahead

Verity’s Director, Patrick Volpe, highlighted the company’s commitment to advancing the Monument Gold Project rapidly, emphasizing the importance of upgrading the resource confidence and testing expansion potential. The results of Phase 2 drilling will be critical in shaping subsequent scoping studies and advancing the project toward development.

With assay results from Phase 1 expected soon and Phase 2 drilling underway, the coming months will be pivotal for Verity Resources as it seeks to unlock the full potential of its Monument Gold Project in one of Australia’s most prolific gold districts.

Bottom Line?

Verity’s aggressive drilling campaign could redefine the scale and confidence of its Monument Gold resource, setting the stage for future development decisions.

Questions in the middle?

• Will Phase 1 assay results confirm the anticipated resource upgrade at Korong?
• Can Phase 2 drilling identify significant high-grade extensions to materially expand the resource?
• How will Verity prioritize the numerous untested targets across the Monument tenure following Phase 2?