Diamond Drilling Underway at Verity's 154koz Monument Gold Project in Prolific Laverton District
Verity Resources (ASX: VRL) has commenced diamond drilling at its wholly-owned Monument Gold Project in Western Australia's gold-rich Laverton district as part of a comprehensive Phase 2 drilling program aimed at resource expansion and upgrade.
Strategic Drilling Campaign Targets Resource Growth and Classification Upgrade
Verity has initiated a substantial 6,400-meter drilling campaign at its Monument Gold Project, beginning with diamond drilling at the project's 154,000-ounce gold resource. The program forms part of a systematic approach to expand and upgrade the current resource base while positioning the company for future development studies.
The Phase 2 program consists of:
- 1,200 meters of diamond drilling
- 5,200 meters of reverse circulation (RC) drilling
- A total of 77 drill holes (5 diamond and 72 RC)
This follows successful first-batch results from the Phase 1 RC drilling that delivered consistent gold intercepts averaging above 1 g/t Au across 38 drill holes, with additional Phase 1 results still pending.
"This Phase 2 drilling campaign is designed to increase our geological confidence and facilitate upgrading the existing 154,000-ounce resource from JORC (2012) Inferred to Indicated confidence level, as a precursor to the next phase of scoping studies," said the company.
Dual-Focus Approach to Resource Development
The drilling program is strategically focused on two key objectives:
Resource Upgrade
- Infill drilling at the Korong deposit (139,000 oz Au)
- Infill drilling at the Waihi deposit (15,000 oz Au)
Resource Expansion
- Drilling targeting down-plunge high-grade extensions at both Korong and Waihi
- Testing extensions of mineralization that remains open in all directions and at depth
Importantly, both the Korong and Waihi deposits offer significant potential for resource growth, with mineralization remaining open in all directions and at depth.
Understanding Banded Iron Formation (BIF) Gold Deposits
BIF-hosted gold deposits represent some of the most significant gold resources in Western Australia's goldfields. These distinctive geological formations consist of alternating layers of iron-rich minerals and silica, creating ideal structural and chemical traps for gold mineralization.
What makes these deposits particularly attractive to investors is their potential for:
- Structural predictability: The layered nature of BIF units creates predictable pathways for gold-bearing fluids
- Strike continuity: Gold mineralization often extends along the BIF unit's strike length
- High-grade potential: The chemical reactivity of iron-rich layers can lead to concentrated gold deposition
At Monument, Verity is exploring approximately 20km of relatively untested BIF horizon, interpreted as the same unit that hosts the significant 1.4Moz Westralia gold deposit directly southeast of Monument. To date, only about 10% of this potential 20km strike length has been tested with detailed drilling.
Strategic Location in World-Class Gold District
The Monument Gold Project occupies a prime position within Western Australia's world-class Laverton Gold District, offering multiple strategic advantages:
- Located approximately 40km west of Laverton
- Comprises approximately 195km² of tenure
- Positioned directly adjacent to Genesis Minerals' (ASX: GMD) 3.3Moz Laverton Gold Project with 3.1Mtpa operating mill
- Hosts approximately 20km of relatively untested banded iron formation
This location within a prolific gold district surrounded by multi-million-ounce deposits and established infrastructure significantly enhances the project's development potential.
| Deposit | Tonnes | Grade (g/t) | Gold (oz) |
|---|---|---|---|
| Korong | 3,034,000 | 1.4 | 139,000 |
| Waihi | 223,000 | 2.1 | 15,000 |
| Total | 3,257,000 | 1.4 | 154,000 |
Significant Exploration Upside Beyond Current Resource
While the current drilling focuses on the established 154,000-ounce resource, the Verity Resources Monument Gold Project offers substantial exploration upside:
- Over 60 additional gold targets across BIF, basalt, and intrusion-hosted settings remain to be adequately tested
- Only approximately 10% of the potential 20km strike has been drilled with detailed air core and reverse circulation drilling
- Multiple priority targets identified along the banded iron formations horizon
- Potential for syenite-intrusion style targets along the 20km structural strike length
These untested targets represent significant potential for future resource growth beyond the current drilling focus areas.
Multi-Asset Company with Critical Metals Exposure
While the Monument Gold Project represents Verity's Australian flagship, the company has built a diversified portfolio that includes:
- Critical minerals exposure through a joint venture in Brazil targeting rare earth elements, lithium, gold, base and precious metals
- Base and precious metals projects in Botswana's Limpopo Mobile Belt, a district known for hosting major nickel and copper-producing operations
- A JORC (2012) inferred resource at Maibele North (Botswana) of 2.4Mt @ 0.72% Ni and 0.21% Cu + PGEs + Co + Au
This multi-asset approach provides investors with exposure to both gold and critical minerals essential for the energy transition.
Why Investors Should Watch Verity Resources
Verity Resources offers investors a compelling opportunity for several key reasons:
- Advanced gold project with an established 154,000-ounce resource in a world-class gold district
- Systematic exploration approach with a clear pathway from resource expansion to development studies
- Strategic location adjacent to Genesis Minerals' 3.3Moz project and mill infrastructure
- Significant exploration upside with over 60 untested targets and 90% of the prospective BIF horizon yet to be thoroughly drilled
- Portfolio diversification through exposure to critical minerals in Brazil and base metals in Botswana
With diamond drilling now underway and a comprehensive Phase 2 program progressing, investors can expect regular news flow as the company works to expand and upgrade its gold resource while advancing toward future development studies.
The company is focused on delivering near-term growth at Monument while strategically positioning itself within the broader gold sector through systematic resource development in one of Australia's premier gold districts.
Looking to Invest in WA's Next Major Gold Discovery?
Discover why Verity Resources is positioning itself as a compelling investment opportunity in the gold-rich Laverton district with its 154,000-ounce Monument Gold Project. With diamond drilling now underway, significant exploration upside across 20km of prospective BIF horizon, and strategic proximity to existing infrastructure, Verity presents a unique investment proposition in the Australian gold sector. Learn more about the company's systematic approach to resource expansion and its diversified portfolio including critical minerals exposure by visiting Verity Resources' website today.
