High-Grade Gold Strikes Validate Monument Project's Resource Potential
Verity Resources Monument Gold continues to demonstrate exceptional drilling results from its Monument Gold Project, confirming the strength and consistency of gold mineralisation at the 154,000-ounce resource. The latest Phase 1 infill drilling has returned multiple high-grade intersections, including standout results of 7.7m @ 6.37g/t including 1m @ 38.0g/t and 3.9m @ 6.35g/t including 1m @ 15.3g/t. These results validate the company's systematic approach to upgrading the resource from Inferred to Indicated status, positioning Monument as a significant gold development opportunity in Western Australia's prolific Laverton Goldfields.
The completed Phase 1 programme comprised 54 holes over 3,630 metres, with all holes returning consistent +1g/t gold intercepts. This consistency demonstrates the robust grade continuity within the Banded Iron Formation (BIF) that hosts the mineralisation, providing confidence in the geological model ahead of resource upgrade calculations.
| Key Phase 1 Results | From (m) | Width (m) | Grade (g/t) | Including |
|---|---|---|---|---|
| KORC25016 | 78 | 7.7 | 6.37 | 1m @ 38.0g/t |
| KORC25023 | 96 | 3.9 | 6.35 | 1m @ 15.3g/t |
| KORC25032 | 97 | 4.8 | 3.91 | – |
| KORC25031 | 76 | 4.8 | 2.79 | 1m @ 11.3g/t |
| KORC25015 | 62 | 5.8 | 2.95 | – |
Understanding BIF-Hosted Gold Mineralisation
Banded Iron Formation represents one of the most reliable geological environments for gold mineralisation in Western Australia. BIF deposits typically form when gold-bearing fluids interact with iron-rich sedimentary rocks, creating distinctive banded layers of iron oxides and silica. At Monument, the gold occurs within quartz veining and fine sulphides throughout the BIF package, where magnetite has been chemically replaced by sulphide minerals in the presence of gold-bearing fluids.
For investors, BIF-hosted deposits offer several advantages: they typically demonstrate excellent grade continuity, predictable geological controls, and often extend over significant strike lengths. The 20-kilometre BIF trend at Monument represents substantial exploration upside, with only 10% systematically drilled to date.
This geological setting mirrors that of nearby major deposits, including the 1.4-million-ounce Westralia deposit located immediately southeast of Monument. Consequently, the proven geological framework provides confidence in the long-term potential of the Verity Resources Monument Gold project.
Strategic Drilling Campaign Advances Resource Confidence
With Phase 1 drilling now complete, Verity has commenced the 77-hole Phase 2 programme targeting 6,400 metres of additional drilling across both reverse circulation and diamond techniques. This phase focuses on step-out extensions and infill drilling of the most prospective zones, with down-plunge diamond drilling designed to validate high-grade shoots at both the Korong (139,000 ounces) and Waihi (15,000 ounces) deposits.
Upcoming Key Milestones
Upcoming Milestones:
- Phase 2 drilling results expected progressively through Q1 2025
- Updated Mineral Resource Estimate targeting Indicated classification
- Commencement of scoping studies following resource upgrade
- Systematic testing of additional targets along the 20km BIF trend
The drilling programme utilises 25m x 25m spacing, which geological analysis indicates should be sufficient to achieve Indicated resource status. Furthermore, this spacing provides the confidence level required for future mining studies while establishing a foundation for potential resource expansion.
Monument Gold Project: Strategic Position in Laverton Goldfields
Monument's location within the Laverton Goldfields provides significant strategic advantages for investors. The project sits adjacent to Genesis Minerals' (ASX: GMD) 3.3-million-ounce Mt Morgan Project, along the same prospective BIF horizon. This proximity to established infrastructure and proven geology reduces development risk while providing potential synergies for future operations.
Current Resource Summary
| Deposit | Tonnes (Mt) | Grade (g/t) | Ounces |
|---|---|---|---|
| Korong | 3.034 | 1.4 | 139,000 |
| Waihi | 0.223 | 2.1 | 15,000 |
| Total | 3.257 | 1.4 | 154,000 |
The 154,000-ounce resource at 1.4g/t provides a solid foundation for Verity Resources Monument Gold, but represents only the beginning of Monument's potential. In addition, the systematic drilling approach aims to convert the current Inferred resource to Indicated status, enabling progression to preliminary economic assessments and scoping studies.
Director Commentary:
"We are very pleased to report further exceptional results from the Phase 1 infill drill programme that has exceeded expectations. The results continue to demonstrate consistent +1g/t intercepts with exceptional thick intercepts validating our resource upgrade and expansion strategy." – Patrick Volpe, Director
What Makes This a Compelling Investment Opportunity?
Verity Resources presents a compelling investment proposition for several key reasons. The company has demonstrated systematic execution of its drilling strategy, with Phase 1 results confirming both the geological model and grade continuity essential for resource confidence. For instance, the 38.0g/t high-grade intersection at KORC25016 highlights the potential for significant grade enhancement within the deposit.
Key Investment Drivers
Key Investment Drivers:
- Consistent +1g/t gold intercepts across entire drilling programme
- Location in world-class Laverton Goldfields adjacent to major deposits
- Substantial exploration upside with 90% of BIF trend untested
- Clear pathway to resource upgrade and development studies
- Experienced management team with proven track record
The combination of immediate resource upgrade catalysts and long-term exploration potential positions Monument as both a near-term development opportunity and a platform for district-scale discovery. However, with Phase 2 drilling underway and results expected through Q1 2025, investors have multiple catalysts to track in the coming months.
Long-Term Potential and Strategic Value
The Verity Resources Monument Gold project represents exceptional value in the current market environment. The 20-kilometre BIF trend offers substantial exploration upside beyond the current resource base, whilst the proven geological framework reduces exploration risk. Furthermore, the project's location within the Laverton Goldfields provides access to established mining infrastructure and services.
The systematic approach to resource definition demonstrates management's commitment to creating shareholder value through methodical exploration and development. Consequently, the combination of immediate catalysts and long-term potential creates a compelling investment narrative for gold sector exposure.
Investment Thesis:
Monument Gold Project represents a rare combination of immediate resource upgrade potential and significant exploration upside in one of Australia's premier gold districts. With systematic drilling validating the geological model and substantial untested strike length remaining, Verity Resources offers leveraged exposure to both resource growth and discovery potential.
The results from the Phase 1 programme have exceeded expectations, with every hole returning significant gold intercepts. This consistency across the drilling programme validates the geological interpretation and provides confidence for the upcoming resource upgrade calculations expected in early 2025.
Could Monument Gold Project Be Your Next Portfolio Winner?
With Phase 1 drilling delivering exceptional results and Phase 2 underway, Verity Resources is systematically advancing its 154,000-ounce Monument Gold Project towards resource upgrade and development studies. The consistent high-grade intersections across the entire drilling programme, combined with substantial exploration upside along the 20-kilometre BIF trend, position this as a compelling opportunity in one of Australia's premier gold districts. Don't miss the upcoming catalysts through Q1 2025 – discover more about Verity Resources' Monument Gold Project and investment opportunity.
