Verity Resources’ first-pass aircore drilling at the Monument Gold Project has confirmed gold mineralisation across a 9km banded iron formation corridor, expanding the footprint beyond its existing 137,700oz Korong–Waihi Mineral Resource.
- Gold confirmed at three prospects over 9km BIF corridor
- 19 of 24 aircore holes returned gold intercepts
- Significant anomalous gold grades from shallow drilling
- Follow-up RC drilling planned to define resource potential
- Project hosts 20km BIF strike with substantial exploration upside
Aircore Drilling Validates Extensive Gold Mineralisation
Verity Resources (ASX:VRL) has extended the known gold mineralisation footprint at its 100%-owned Monument Gold Project in Western Australia, confirming gold across a previously untested 9-kilometre stretch of banded iron formation (BIF). The recent 58-hole, 2,622-metre aircore (AC) drilling program returned gold intercepts in 19 of 24 holes at the A4 and A1 prospects, which lie along strike from the company’s established Korong–Waihi Mineral Resource of 137,700 ounces at 1.72 grams per tonne (g/t) gold.
These results mark a significant step in expanding the project’s mineralised footprint, with A4 representing the largest previously untested segment within the corridor. The drilling program’s composite samples revealed multiple anomalous gold intervals, including highlights such as 8 metres at 0.73g/t Au from 8 metres at A1, and 7 metres at 0.73g/t Au from 12 metres at A4. Verity notes that these 4-metre composite grades likely dilute higher-grade zones, as prior reverse circulation (RC) drilling along the same horizons yielded higher-grade intercepts like 2.9 metres at 2.51g/t Au at A1.
Prospect Highlights and Next Steps
The A4 prospect, situated between A1 and Perseverance, showed gold mineralisation in 13 of 15 holes over approximately 1.1km of strike. This confirms A4 as a high-priority target for upcoming RC drilling aimed at defining true width and grade. Similarly, the A1 prospect extended mineralisation northwest of the Korong deposit with gold detected in six of nine holes across 450 metres of strike. Perseverance, the most advanced Phase 1 target located 6km northwest of Korong, also returned anomalous gold intercepts, reinforcing its potential for resource growth.
Verity’s Managing Director, Patrick Volpe, emphasised the program’s role in identifying where gold sits within the system. He highlighted that the aircore results provide an encouraging early indication that mineralisation continues well beyond the existing resource, setting the stage for resource-defining RC drilling. The company plans to reassay 1-metre splits from the best composite intervals before advancing with RC drilling to better quantify the mineralisation’s potential contribution to future resource growth.
Regional Growth Strategy and Exploration Upside
The Monument Gold Project covers approximately 405 square kilometres in the Laverton Gold District, adjacent to Genesis Minerals’ 3.3 million ounce Laverton Gold Project. The project hosts around 20km of BIF strike, interpreted to be the same geological unit that hosts the 1.4 million ounce Westralia deposit nearby. To date, only a fraction of this strike length has been systematically drilled, leaving substantial exploration upside. Verity has identified around 60 priority targets along the BIF horizon and associated syenite intrusions, which remain largely untested.
While the recent drilling at Cooper Well and Korong Syenite did not return significant gold mineralisation, anomalous pathfinder elements suggest further work is warranted. The company’s exploration efforts continue to focus on systematically testing these targets to build on the existing Mineral Resource Estimate (MRE) and advance the project toward development.
Verity’s approach aligns with its broader regional growth strategy, leveraging the recent 66,200-ounce maiden Indicated Mineral Resource at Korong–Waihi and aiming to systematically add ounces through exploration across the extensive BIF corridor. The upcoming RC drilling campaign will be critical in converting early-stage anomalies into defined resources, providing clarity on the project’s scale and economic potential.
Bottom Line?
Verity’s aircore results open a promising chapter for Monument’s resource expansion, but the real test lies in upcoming RC drilling to confirm grade and width.
Questions in the middle?
- Will follow-up RC drilling confirm the high-grade potential suggested by composite assays?
- How much of the 20km BIF strike can realistically contribute to resource growth?
- What timeline can investors expect for updated Mineral Resource Estimates following this drilling?