Verity Resources Targets High-Grade Gold with New IP Survey at Perseverance
Verity Resources has completed an Induced Polarisation survey at its Perseverance prospect, aiming to pinpoint gold sulphide zones along a promising 500m strike within the Monument Gold Project. This marks a strategic step toward expanding the project's 154,000-ounce inferred resource.
- Induced Polarisation survey completed at Perseverance prospect
- Survey covers 500m strike to 250m depth targeting gold sulphides
- Previous rock chips returned up to 21.5g/t gold, no drilling yet
- Monument Gold Project hosts 154koz inferred resource with only 10% drilled
- Follow-up drilling planned to test newly identified IP anomalies
Strategic Geophysical Survey at Perseverance
Verity Resources Limited has recently completed a Pole-Dipole Induced Polarisation (IP) survey at the Perseverance prospect, part of its wholly owned Monument Gold Project in Western Australia's Laverton Goldfields. This survey represents the company's first systematic geophysical test of banded iron formation (BIF)-hosted gold targets outside the existing 154,000-ounce Korong-Waihi resource.
The IP survey spans a 500-metre strike length and probes to depths of approximately 250 metres, aiming to identify sulphide mineralisation associated with gold. The survey's design includes three northeast-southwest lines extending 1.2 kilometres, providing detailed coverage of the BIF stratigraphy where magnetic depletion has been noted from aeromagnetic data.
High-Grade Surface Samples Signal Potential
Verity's Managing Director, Patrick Volpe, emphasised the significance of this work, noting that only about 10% of the 20-kilometre Korong-Waihi BIF corridor has been drilled to date. The company views Perseverance and other untested targets along this corridor as promising opportunities to add ounces to the Monument resource base.
Broader Exploration Context and Future Plans
The Monument Gold Project, located roughly 40 kilometres west of Laverton, is strategically positioned near major gold deposits including Genesis Minerals’ Mt Morgan project. The current inferred resource of 154,000 ounces is hosted within a 20-kilometre BIF corridor that remains largely underexplored. Verity has identified approximately 60 targets along this trend, including structural and syenite-associated prospects, many of which await systematic testing.
Following the IP survey at Perseverance, Verity plans to extend similar geophysical techniques to other prospects such as Waihi, A4, A39, and A1. These efforts aim to refine drill targeting and accelerate resource expansion across the project.
Technical Expertise and Resource Confidence
The IP survey was conducted by Fender Geophysics, a firm with extensive experience in deep and near-surface geophysical methods. The company’s confidence is further supported by a JORC-compliant inferred resource estimate prepared by CSA Global in 2021, underpinning the project's geological potential.
As Verity moves toward drilling the newly identified targets, the market will be watching closely for assay results that could materially enhance the Monument Gold Project’s resource profile.
Bottom Line?
With only a fraction of its gold corridor drilled, Verity’s new IP survey at Perseverance could unlock significant resource growth.
Questions in the middle?
- What will the IP survey reveal about the depth and continuity of gold mineralisation at Perseverance?
- How quickly will Verity advance to drilling and what initial results can investors expect?
- Could discoveries at Perseverance trigger a re-rating of the Monument Gold Project’s valuation?
