Verity Resources Hits High-Grade Gold at Monument Gold Project
Verity Resources (ASX: VRL) has reported excellent progress from its Phase 1 resource upgrade drilling program at the 100%-owned Monument Gold Project in Western Australia's Laverton Goldfields. The first batch of results from the program has delivered consistent high-grade gold intercepts that strengthen confidence in the project's resource quality.
Strong Drill Results Confirm Resource Quality and Continuity
The initial assay results from the Phase 1 RC drilling program have returned significant gold intercepts including:
- 3.9m @ 3.81g/t gold from 57m (KORC25005)
- 2.9m @ 3.60g/t gold from 30m (KORC25012)
- 4.8m @ 3.27g/t gold from 86m (KORC25037)
- 19.4m @ 1.65g/t gold from 84m including 5.8m @ 2.25g/t (KORRC25025)
These results represent true widths and form part of Verity's campaign to upgrade and expand the current 154,000oz gold Inferred Resource at the project.
"The first batch of assays achieved exactly what the Phase 1 drill program was designed for: confirm the BIF-hosted lode system, demonstrate reliable grade continuity, and validate legacy drilling so it can be used with confidence in the upcoming resource upgrade work," commented Verity Director, Patrick Volpe.
As part of the program, the company completed twin holes which showed excellent reconciliation against historical intercepts. Metal content reconciliation ranged from -4% to +22%, providing a strong indication of the deposit's consistency and reliability.
Understanding Banded Iron Formation (BIF) Gold Deposits
The gold mineralisation at the Monument Gold Project occurs within Banded Iron Formation (BIF), a distinctive geological formation that consists of alternating layers of iron-rich minerals and silica-rich bands.
BIF-hosted gold deposits are particularly significant in the Laverton region, with notable examples including the nearby 1.4Moz Westralia gold deposit which shares similar geological characteristics to Monument. In these deposits, gold typically occurs where hydrothermal fluids have altered the BIF, replacing magnetite with sulphides and introducing gold mineralisation.
This type of deposit generally offers several advantages from a mining perspective:
- Good continuity – The layered nature of BIFs often results in predictable mineralisation distribution
- Structural predictability – The brittle nature of BIFs creates favourable sites for gold deposition
- Geophysical signatures – The replacement of magnetic minerals with sulphides creates identifiable geophysical targets
At Monument, the main mineralised BIF lode shows reliable gold grades with excellent continuity, as confirmed by the consistent results from Verity's drilling program. The main mineralised zone follows the BIF stratigraphy with gold appearing associated with quartz veining and fine sulphides throughout the unit.
Strategic Location in a World-Class Gold District
The Verity Resources Monument Gold Project occupies a prime position in Western Australia's Laverton Gold District, a region known for hosting numerous multi-million-ounce gold deposits. The project is located approximately 40km west of Laverton and is adjacent to Genesis Minerals' 3.3Moz Mt Morgan Project.
Verity's 195km² tenement package contains approximately 20km of BIF strike length, of which only about 10% has been systematically drilled to date. This presents significant exploration upside, with multiple untested structural and syenite-associated targets remaining to be adequately explored.
The current Mineral Resource Estimate stands at 3.257Mt @ 1.4g/t gold for 154,000 ounces, comprising the Korong deposit (139,000oz) and Waihi deposit (15,000oz).
Phase One Success Paves Way for Resource Upgrade
The Phase 1 RC drilling program was designed on a 25m x 25m pattern specifically to underpin a resource upgrade to Indicated classification. The progress results have demonstrated good grade and continuity at this spacing, positioning Verity to upgrade select parts of the resource from Inferred to Indicated status as part of its mineral resource estimate upgrade studies.
The company's infill drilling program is approximately 50% complete, with additional results expected in the coming weeks. Furthermore, Phase Two RC and diamond drilling has commenced, aiming to extend high-grade shoots and test depth and strike extension potential.
"With record gold prices and Phase 2 diamond and RC drilling commencing, we are well positioned to continue aggressively executing our resource upgrade and expansion strategy," said Volpe.
Why Investors Should Follow Verity Resources
Verity Resources presents a compelling investment case for several reasons:
-
Resource Growth Potential: With only 10% of the 20km BIF trend systematically drilled to date, there is significant potential to expand the current 154,000oz resource base.
-
Strategic Location: The Monument Project is located in the world-class Laverton Gold District, adjacent to Genesis Minerals' 3.3Moz Mt Morgan Project.
-
Consistent High-Grade Results: The recent drilling results confirm the geological model and demonstrate reliable grade continuity.
-
Experienced Management: The company has demonstrated a methodical approach to resource definition and expansion.
-
Diverse Portfolio: Beyond Monument, Verity holds critical metals assets in Brazil (including lithium and rare earth elements) and base/precious metals projects in Botswana.
With gold prices at record highs and a clear pathway to resource expansion, Verity Resources is well-positioned to deliver value for investors as it progresses its aggressive drilling campaign at the Monument Gold Project.
The Monument Project represents an opportunity to define and potentially expand a gold resource in one of Australia's premier gold districts during a period of strong gold prices, making it a development to watch closely in the coming months as further drilling results are reported.
Ready to Invest in Western Australia's Next Gold Success Story?
Don't miss this opportunity to be part of Verity Resources' exciting journey in the prestigious Laverton Gold District. With consistent high-grade gold intercepts, a strategic position adjacent to multi-million-ounce deposits, and only 10% of their 20km BIF trend explored so far, VRL is positioned for significant resource growth. To discover more about their Monument Gold Project and investment potential during this period of record gold prices, visit Verity Resources' website today.
