Verity Resources Unveils Untested Gold Target at Perseverance Prospect
Verity Resources has identified a compelling new gold target at its Monument Gold Project in Western Australia through a recent geophysical survey, with drilling set to commence imminently.
- New near-surface chargeability anomaly discovered at Perseverance prospect
- Anomaly aligns with banded iron formation and rock chip samples >1 g/t gold
- Target has never been drilled before, drilling planned for late November 2025
- Monument Gold Project hosts 154,000 oz inferred gold resource at Korong-Waihi
- Only 10% of 20km BIF corridor has been systematically drilled to date
A Fresh Gold Target Emerges
Verity Resources Limited has announced promising results from an Induced Polarisation (IP) geophysical survey at its Perseverance prospect, part of the company’s wholly owned Monument Gold Project in Western Australia’s Laverton district. The survey revealed a distinct near-surface chargeability high anomaly, a geophysical signature often associated with sulphide mineralisation, which has never before been subjected to drilling.
Geology and Significance
This newly identified anomaly coincides with outcropping banded iron formation (BIF), the same geological unit that hosts Verity’s existing Korong-Waihi inferred resource of 154,000 ounces of gold. Previous rock chip sampling in the area returned multiple samples grading above 1 gram per tonne gold, reinforcing the prospectivity of this target. The anomaly’s location along the 20-kilometre BIF corridor, largely underexplored with only about 10% drilled to date, suggests significant upside potential for resource expansion.
Drilling Plans and Strategic Outlook
With reverse circulation (RC) drilling equipment already on site and all necessary approvals secured, Verity plans to commence drilling at Perseverance in late November 2025. The company’s director, Patrick Volpe, highlighted the strategic importance of this target, noting that success here could unlock further opportunities along the extensive BIF trend. This would not only enhance the resource base but also potentially provide a cost-effective pathway to growth within the Monument Gold Project.
Broader Project Context
The Monument Gold Project is situated in one of Australia’s premier gold districts and benefits from proximity to major deposits such as Genesis Minerals’ Mt Morgan project. Verity’s current inferred resource at Korong and Waihi deposits was estimated in 2021, but the vast majority of the 20km BIF corridor remains underexplored. The company also holds a portfolio of critical metals projects in Brazil and Botswana, but the immediate focus is clearly on advancing gold exploration at Monument.
Next Steps and Market Implications
Following the upcoming drilling campaign, Verity may extend IP surveys to other promising prospects along the BIF corridor, including Waihi, A4, A39, and A1. The combination of geophysical targeting and systematic drilling could materially enhance the project’s resource profile. Investors will be watching closely for assay results and subsequent updates, which will be pivotal in validating the economic potential of this newly identified target.
Bottom Line?
Drilling at Perseverance could redefine Verity’s resource potential and reshape investor expectations.
Questions in the middle?
- Will the upcoming drilling confirm economically viable gold mineralisation at Perseverance?
- How might success at Perseverance influence exploration strategies along the broader BIF corridor?
- What timeline can investors expect for updated resource estimates following drilling results?