Resource Upgrade Looms as Verity Confirms Gold Grade Continuity at Monument

Drilling Campaign Completion and Results

Verity Resources Limited (ASX:VRL) has announced the completion of its extensive ~11,000m two-phase drilling campaign at the Monument Gold Project in Western Australia's Laverton Gold District. The campaign focused on the Korong and Waihi deposits, both hosted within banded iron formation (BIF) lodes, and has delivered a robust dataset confirming consistent, high-grade gold mineralisation across these key areas.

The final batch of assay results from 29 reverse circulation (RC) infill holes totaling 1,955m reinforces the geological model underpinning the project. Notably, the drilling has demonstrated exceptional grade continuity, with true-width intercepts such as 2.4m at 5.41g/t Au and 3.2m at 4.14g/t Au at Waihi, confirming the repeatability of mineralisation at the tighter drill spacing required for a confidence upgrade.

Waihi Deposit: A High-Grade Highlight

The Waihi deposit stands out with a resource grade of 2.1g/t Au, which is approximately 50% higher than the Korong deposit's 1.4g/t. Throughout the infill program, Waihi has consistently returned high-grade intercepts, including impressive results such as 0.8m at 21.3g/t Au and 4.8m at 4.46g/t Au. These results suggest that the current 15,000-ounce resource at Waihi reflects limited drilling extent rather than a lack of grade, with the deposit remaining open along strike and at depth.

Step-out drilling has already confirmed mineralisation beyond the existing resource boundaries, indicating significant growth potential. Pending assays from further step-out holes are expected to provide additional insights into the deposit's extent and grade continuity.

Pathway to Resource Upgrade

The comprehensive drilling campaign, combined with approximately 16,000m of validated historical data, provides a strong foundation for an updated Mineral Resource Estimate (MRE). Verity Resources is targeting an upgrade from JORC (2012) Inferred to Indicated status, reflecting increased geological confidence and drill density. The updated MRE is anticipated in April 2026 and is expected to incorporate all new drilling results, potentially enhancing the project's valuation and development prospects.

Verity's Managing Director, Patrick Volpe, emphasised the campaign's success in delivering a high-quality dataset that validates the geological model and supports the confidence upgrade strategy. He also highlighted the ongoing assay pipeline from step-out drilling and regional targets along the Monument trend, which could further expand the resource base.

Regional Exploration Upside

Beyond Korong and Waihi, the Monument Gold Project covers approximately 405 square kilometres and hosts around 60 priority targets along the BIF horizon and syenite-intrusion settings. Only about 10% of the prospective 20km strike length has been drilled in detail to date, leaving considerable exploration upside. The project's proximity to Genesis Minerals' 3.3 million-ounce Laverton Project adds strategic significance.

Verity is progressing geological modelling, estimation work, and metallurgical and geotechnical studies to support future mining studies. The company plans to continue reporting assay results progressively as they become available, maintaining market engagement and investor interest.