Monument Gold Project Expands Over 100% to 405 km² with New Licence
Verity Resources has secured a major new exploration licence at its Monument Gold Project in Western Australia, doubling its landholding to over 400 square kilometres and unlocking fresh exploration opportunities in the prolific Laverton Goldfields.
- Exploration Licence E39/2558 granted, expanding Monument Gold Project to ~405 km²
- Project hosts 154,000-ounce inferred gold resource at Korong and Waihi deposits
- New tenement covers ~210 km² of highly prospective geology
- Adjacent to Genesis Minerals’ 3.3 million ounce Laverton Project
- Upcoming geophysical reviews and field reconnaissance to identify drill targets
Significant Expansion in a Proven Gold District
Verity Resources Limited (ASX – VRL) has announced the granting of Exploration Licence E39/2558 at its 100%-owned Monument Gold Project, located in Western Australia's renowned Laverton Goldfields. This new tenement more than doubles the project's footprint, increasing the contiguous landholding to approximately 405 square kilometres. The expansion positions Verity to explore a broader area of highly prospective geology that has seen limited historical drilling.
Building on an Established Resource Base
The Monument Gold Project already hosts a JORC-compliant inferred mineral resource of 154,000 ounces of gold, spread across the Korong and Waihi deposits. These deposits sit along roughly 20 kilometres of banded iron formation (BIF), a geological feature known to host significant gold mineralisation in the region. Notably, this BIF unit is interpreted to be the same as that which hosts Genesis Minerals’ nearby 1.4 million ounce Westralia gold deposit, underscoring the potential for further discoveries.
Unlocking New Exploration Opportunities
The newly granted tenement covers about 210 square kilometres of largely untested ground, offering Verity a substantial area to apply modern exploration techniques. The company plans to conduct a comprehensive geophysical review and historic data acquisition, followed by a field reconnaissance program to identify and prioritise new drill targets. This systematic approach aims to leverage the geological similarities to neighbouring prolific deposits and potentially expand the known resource base.
Strategic Location Adjacent to Major Gold Projects
Monument’s proximity to Genesis Minerals’ 3.3 million ounce Laverton Project adds strategic value, as the contiguous geology may share mineralisation trends. Verity’s Director Patrick Volpe highlighted the significance of the expansion, noting the immediate exploration opportunities presented by the new tenure and the potential to uncover additional gold deposits within the expanded landholding.
Looking Ahead
Verity is also awaiting further assay results from a recent 11,000-metre drilling program aimed at upgrading and expanding the Korong-Waihi resource. These results, expected in the coming weeks, will provide additional insight into the project's potential. As Verity advances its exploration activities, the expanded Monument Gold Project stands as a compelling prospect in one of Australia’s most prolific gold regions.
Bottom Line?
With its Monument Gold Project footprint now doubled, Verity Resources is poised for a pivotal exploration phase that could reshape its resource profile and market standing.
Questions in the middle?
- What initial targets will Verity prioritise within the newly granted tenement?
- How might upcoming assay results from Korong-Waihi influence the project's valuation?
- What exploration timeline and budget has Verity allocated for the expanded landholding?
