Verity Resources Drills Deeper, Extends Gold Zones at Monument Project
Verity Resources has completed seven diamond drill holes at its Monument Gold Project, intersecting key mineralised formations beyond the current resource boundary and advancing its Phase 2 drilling program aimed at expanding gold resources.
- Seven diamond holes totaling 1,230m completed at Korong and Waihi deposits
- All holes intersected targeted Banded Iron Formation with sulphides and alteration
- Drill intersections extend beyond existing 154,000-ounce inferred resource
- Ongoing reverse circulation drilling progressing Phase 2, targeting resource growth
- Only 10% of the 20km BIF trend systematically drilled, indicating exploration upside
Diamond Drilling Confirms Continuity of Mineralisation
Verity Resources Limited (ASX – VRL) has announced the completion of seven diamond drill holes totaling 1,230 metres at its 100%-owned Monument Gold Project in Western Australia's Laverton Goldfields. The drilling targeted the Korong and Waihi deposits, which together host an inferred resource of approximately 154,000 ounces of gold. Encouragingly, all holes intersected the targeted Banded Iron Formation (BIF) with visible sulphides, veining, shearing, and alteration, suggesting the mineralised stratigraphy continues beyond the current resource limits.
Extending the Known Resource Envelope
Notably, diamond hole KODD25004 at Korong intersected a thick zone of altered BIF with multiple sulphide intervals starting at around 315 metres depth, well outside the existing 139,000-ounce Korong resource. Similarly, hole WHDD25001 at Waihi encountered sulphide-bearing BIF beyond the 15,000-ounce Waihi resource boundary. These findings open up new targets along strike and at depth, aligning with Verity's Phase 2 drilling objectives to test for resource expansion.
Ongoing Drilling and Exploration Potential
Alongside diamond drilling, reverse circulation (RC) drilling is progressing with 77 holes completed for 5,130 metres, contributing to a total planned 10,000-metre Phase 2 program. This comprehensive drilling campaign aims to extend high-grade shoots and explore untested structural and syenite-associated targets along the approximately 20-kilometre BIF trend at Monument. To date, only about 10% of this prospective strike length has been systematically drilled, underscoring significant exploration upside.
Strategic Location in a Prolific Gold District
The Monument Gold Project is strategically situated near Laverton, adjacent to Genesis Minerals’ 3.3 million-ounce Mt Morgan Project. The geological setting features a north-westerly trending sequence of Archaean meta-volcanics and meta-sediments intruded by mafic and felsic rocks, hosting BIF units similar to those at the nearby Westralia gold deposit. Verity’s exploration approach, supported by detailed geological logging and modern assay techniques, aims to unlock further value from this underexplored terrain.
Awaiting Assay Results and Next Steps
Assay results from the recent diamond drilling are pending, with samples submitted to ALS Laboratories in Perth. The company anticipates these results will provide critical data to refine resource models and guide further drilling. Verity’s management remains optimistic about the potential to grow the Monument resource base, with ongoing metallurgical and geotechnical studies also underway to support future development planning.
Bottom Line?
As assay results loom, Verity’s expanded drilling footprint at Monument hints at a promising resource growth story unfolding.
Questions in the middle?
- What grades will the pending assay results reveal for the new BIF intersections?
- How might these drilling results influence the timing and scale of a resource upgrade?
- What is the potential impact of untested syenite-associated targets on overall project value?
