Verity Resources Completes Drilling at Monument Gold Project

Verity Resources Completes Phase One Drill Program at Monument Gold Project

Verity Resources Limited (ASX: VRL, FSE: 48B0) has successfully completed the first phase of its resource upgrade drilling campaign at the Monument Gold Project in Western Australia’s Laverton Gold District. The program, which exceeded planned meters, aims to upgrade the existing 139,000-ounce Korong gold resource from Inferred to Indicated status under JORC (2012) classification.

Strategic Infill Drilling Campaign Sets Stage for Resource Upgrade

Verity has completed 54 reverse circulation (RC) holes totaling 3,630 meters across a 1.2km² infill drill grid at the Korong deposit. The program, executed on time and with all holes reaching target depth, was designed on a 25m x 25m spacing to enhance geological confidence in the resource model.

The drilling campaign focused on two key objectives:

• • Infill drilling to increase resource confidence at Korong

• • Twinning of historical drill holes to validate previous high-grade intercepts

Previous high-grade intercepts at Korong include impressive results such as:

• • 6m @ 3.15g/t Au (from 95m)

• • 5m @ 3.22g/t Au (from 130m)

• • 5m @ 2.56g/t Au (from 124m)

• • 5m @ 2.03g/t Au (from 60m)

All samples have been sent to ALS laboratory with results expected in the coming weeks.

Monument Gold Project: A Strategic Position in the Laverton Gold District

The Monument Gold Project occupies a prime position in one of Australia’s most productive gold regions, with several key advantages:

The project’s strategic value is enhanced by its proximity to Genesis Minerals’ 3.3Moz Laverton Gold Project and operating 3.1Mtpa mill, potentially reducing capital requirements for future development.

Understanding Banded Iron Formation (BIF) Gold Deposits

What is a Banded Iron Formation (BIF)?

Banded Iron Formations are distinctive sedimentary rocks characterized by alternating layers of iron-rich minerals and silica. These geological structures are known to host significant gold deposits worldwide, including the nearby 1.4Moz Westralia deposit.

Why BIFs matter to gold investors:

BIF-hosted gold deposits often feature:

• • Structural predictability that aids exploration

• • Potential for high-grade gold mineralization

• • Excellent continuity along strike and at depth

• • Amenability to conventional mining methods

At Monument, approximately 20km of BIF strike length has been identified, with only about 10% tested by detailed drilling to date. This geological setting is interpreted to be the same unit that hosts the 1.4Moz Westralia gold deposit located directly southeast of Monument.

“The successful completion of our phase one drill program at Monument represents an important step in our strategy to upgrade and expand the resource base. With all holes reaching target depth and samples now at the laboratory, we look forward to sharing results in the coming weeks.”

Future Plans: Multi-Stage Development Strategy

Verity’s current program forms part of a comprehensive multi-stage drilling initiative designed to advance the Monument Gold Project. Key upcoming milestones include:

1. 1. Resource Upgrade: Incorporation of new drill results to upgrade Korong from Inferred to Indicated status

1. 1. Metallurgical Testing: Early-stage testing to understand gold recovery characteristics

1. 1. Mining License Application: Preparation and submission based on upgraded resource

1. 1. Resource Expansion: Future drilling targeting extensions as mineralization remains open in all directions

1. 1. Regional Exploration: Testing of the over 60 additional targets identified across the property

The company will update the market as results from the current drill program are received in the coming weeks.

Investment Thesis: Value Creation Through Resource Growth

Verity Resources presents a compelling investment case centered on significant resource growth potential at Monument:

The current 154,000oz resource represents just the beginning of potential value creation at Monument. With mineralization open in all directions and at depth, plus over 60 additional targets, the project offers substantial upside through exploration.

Why Investors Should Follow Verity Resources

Verity Resources offers investors exposure to multiple growth opportunities through a diversified portfolio of gold and critical minerals assets:

1. 1. Monument Gold Project (Australia): Strategic gold asset in tier-one mining jurisdiction with clear path to resource growth

1. 1. Critical Metals Portfolio (Brazil): Joint venture exposure to rare earth elements and lithium in established mining districts

1. 1. Base Metals Projects (Botswana): High-grade copper-silver discoveries and a JORC Inferred Resource at Maibele North (2.4Mt @ 0.72% Ni and 0.21% Cu + PGEs + Co + Au)

The company’s immediate focus on upgrading and expanding the Monument Gold resource provides a clear near-term catalyst for potential value creation, while its diversified portfolio offers additional growth pathways.

Key Takeaway:
“Verity Resources has positioned itself with a highly prospective gold project in Western Australia’s prolific Laverton district, with significant upside potential due to its strategic location and extensive untested targets. With imminent drill results and resource upgrade milestones in the coming weeks, investors should keep a close eye on developments at the Monument Gold Project.”

Ready to Tap Into Monument’s Gold Potential?

Discover how Verity Resources is strategically positioning itself in one of Australia’s most productive gold regions. With promising drill results on the horizon, a clear path to resource upgrades, and significant exploration upside at the Monument Gold Project, now is the time to explore this compelling investment opportunity. Visit Verity Resources’ website to learn more about their diversified portfolio spanning gold, rare earth elements, and base metals across Australia, Brazil and Botswana.