Waihi Deposit Yields Up to 21.3g/t Gold in Verity’s Phase 2 Drilling
Verity Resources has reported strong assay results from Phase 2 drilling at its Monument Gold Project, confirming gold mineralisation continuity and extensions beyond the current Waihi deposit resource outline.
- Phase 2 drilling confirms mineralisation continuity at Waihi
- High-grade gold intercepts up to 21.3g/t returned
- Step-out drilling extends mineralised footprint beyond current resource
- Only 10% of 20km BIF trend drilled to date
- Significant assay results pending from ongoing drilling program
Strong Phase 2 Drilling Results at Waihi
Verity Resources Limited (ASX – VRL) has announced encouraging assay results from its ongoing Phase 2 drilling campaign at the Monument Gold Project, located in Western Australia's Laverton Goldfields. The latest batch of results, comprising assays from 33 reverse circulation drill holes totalling nearly 2,000 metres at the Waihi deposit, has reinforced the continuity of banded iron formation (BIF)-hosted gold mineralisation and revealed extensions beyond the existing resource boundary.
High-Grade Intercepts Highlight Potential
Among the standout intercepts are several high-grade zones, including 3.2 metres at 5.27 grams per tonne (g/t) gold featuring a 0.8 metre section grading 21.3 g/t, and 3.0 metres at 4.67 g/t with a 0.8 metre interval at 16.2 g/t. These results not only confirm the robustness of the geological model underpinning the Waihi resource but also demonstrate that the mineralised system extends beyond the current inferred resource estimate of 15,000 ounces.
Expanding the Resource Footprint
Step-out drilling has been particularly significant, intersecting mineralisation outside the previously defined resource envelope. This suggests that the Waihi deposit, and potentially the broader Monument Gold Project, could host a larger gold resource than currently estimated. Verity's Director, Patrick Volpe, expressed confidence in the geological continuity and highlighted the substantial pipeline of assays still pending from both Waihi and Korong deposits, as well as other regional targets along the 20-kilometre BIF trend.
Underexplored Project with Significant Upside
Despite these promising results, only about 10% of the prospective 20-kilometre BIF trend at Monument has been systematically drilled to date. This leaves considerable exploration upside, with multiple untested structural and syenite-associated targets identified. The ongoing drilling program includes infill, step-out, and diamond drilling designed to test extensions along strike and at depth, with results to be released progressively.
Strategic Location and Regional Context
The Monument Gold Project is strategically positioned adjacent to Genesis Minerals’ 3.3 million ounce Mt Morgan Project, within a world-class gold district. The geological setting, featuring BIF-hosted mineralisation similar to the nearby Westralia gold deposit, adds further weight to the project's potential. Verity's methodical approach to resource upgrade and expansion, supported by rigorous sampling and assay protocols, positions the company well for future resource growth.
Bottom Line?
With high-grade gold mineralisation extending beyond current boundaries and a vast underexplored area ahead, Verity Resources’ next assay results could be pivotal for the Monument Gold Project’s valuation.
Questions in the middle?
- How will the pending assay results impact the overall resource estimate at Waihi and Korong?
- What is the timeline for completing the remaining Phase 2 drilling and reporting all results?
- Could the untested structural and syenite-associated targets significantly increase the project’s resource base?
