Verity Resources Confirms Strong Gold Continuity at Monument Project
Verity Resources reports robust Phase 1 drilling results at its Monument Gold Project, validating historical data and supporting a resource upgrade. Phase 2 drilling is underway to expand high-grade zones along a largely untested 20km trend.
- Phase 1 infill drilling confirms BIF-hosted gold lode continuity
- Significant intercepts include 3.9m @ 3.81g/t and 19.4m @ 1.65g/t gold
- Results validate historical drilling, underpinning resource upgrade to indicated status
- Only 10% of the 20km BIF trend drilled, leaving substantial exploration upside
- Phase 2 RC and diamond drilling commenced to extend high-grade zones
Context and Significance
Verity Resources Limited (ASX – VRL) has released encouraging results from the first phase of its resource upgrade drilling at the Monument Gold Project, located in Western Australia's prolific Laverton Goldfields. The project currently holds an inferred resource of 154,000 ounces of gold, primarily hosted within banded iron formation (BIF) lodes at the Korong deposit.
The Phase 1 reverse circulation (RC) drilling program aimed to confirm the geological model, demonstrate grade continuity, and validate legacy drilling data. The results have met these objectives, showing consistent gold intercepts above 1 gram per tonne (g/t) and excellent reconciliation with historical drill holes. This validation is critical as it allows Verity to confidently use historical data in upcoming resource estimation upgrades.
Key Drill Results and Geological Insights
The first batch of assays from 38 holes totaling over 2,000 meters returned multiple significant intercepts, including standout results such as 3.9 meters at 3.81 g/t gold and a thick 19.4 meters at 1.65 g/t gold. These intercepts confirm the presence of a coherent, repeatable mineralised system within the BIF main lode at Korong. The drilling was conducted on a tight 25m by 25m grid, designed to support an upgrade of part of the resource from inferred to indicated classification, a crucial step for advancing the project towards development.
Importantly, twin holes drilled adjacent to historical holes showed minimal variance in grade and width, reinforcing the reliability of past data. This continuity and validation underpin Verity’s confidence in the resource model and its expansion potential.
Exploration Upside and Next Steps
Despite the promising results, only about 10% of the approximately 20-kilometer BIF trend at Monument has been systematically drilled to date. This leaves a substantial portion of the project area unexplored, including multiple untested structural and syenite-associated targets that could host additional mineralisation.
With Phase 1 drilling about halfway complete and Phase 2 RC and diamond drilling now underway, Verity is targeting extensions of high-grade shoots along strike and at depth. The company is well positioned to leverage current record gold prices as it aggressively pursues resource upgrades and expansion.
Verity’s Monument Gold Project benefits from its location adjacent to Genesis Minerals’ 3.3 million ounce Mt Morgan Project, sharing similar geological settings that have proven highly prospective for gold.
Broader Company Portfolio
Beyond Monument, Verity Resources holds a diversified portfolio including critical metals projects in Brazil and base and precious metals projects in Botswana. This diversification provides multiple avenues for growth alongside the advancing gold project in Western Australia.
Bottom Line?
As Verity Resources advances its drilling and resource upgrade, the Monument Gold Project stands poised for significant growth, but key assay results and further exploration will be pivotal.
Questions in the middle?
- How will the remaining Phase 1 assay results impact the final resource upgrade?
- What are the timelines and targets for Phase 2 drilling extensions?
- Could untested structural and syenite-associated targets deliver new discoveries?
