Verity Resources (ASX: VRL) has intersected extensions of banded iron formation (BIF) host rock outside the defined resource envelopes at the Korong and Waihi deposits within its Monument gold project in Western Australia’s Laverton district.
The intersections were part of a seven-hole, 1,230-metre diamond drilling campaign the company completed under its 6,400m Phase 2 resource expansion and upgrade program.
Verity said all holes encountered the targeted BIF zones containing sulphides, veining, and alteration at the expected depths, confirming the continuation of mineralised stratigraphy beyond the current 154,000-ounce resource.
BIF Continuity Confirmed at Depth
The company drilled four holes totalling 813m at Korong and three holes for 417m at Waihi, with both areas returning multiple intersections of altered and sulphide-bearing BIF.
At Korong, one hole reached the BIF position at around 315m depth, intersecting a thick zone with extensive veining and sulphides that included a 16m interval logged with multiple sulphide occurrences.
One hole at Waihi intersected BIF from 179m depth with a 3m sulphide-bearing interval, marking the first confirmation of continuity outside the current Waihi resource boundary.
“Intersecting the continuation of the BIF formation outside the current 154koz Korong and Waihi resource is an encouraging step as we open up targets along strike and at depth,” Verity director Patrick Volpe said.
“The Phase 2 drill program set out to test potential resource expansion, and we are very pleased that we have intersected the BIF with strong thicknesses across every diamond hole drilled—we look forward to reporting assay results as soon as they are received.”
Monument’s Strategic Setting
The 154,000-ounce Monument resource – comprising 139,000oz at Korong and 15,000oz at Waihi – lies 40km west of Laverton and along strike of Genesis Minerals’ 3.3-million-ounce Mt Morgan project.
The same BIF horizon also hosts the 1.4-million-ounce Westralia deposit, highlighting Monument’s position within a proven gold belt.
Verity said the continuity of the BIF package and the strong geological indicators observed in the latest drilling provide clear potential for substantial resource growth at depth and along strike.
Reverse circulation drilling is continuing to complete the remaining 5,130m of the Phase 2 program, with Verity preparing assay results from the Phase 2 diamond holes for submission to ALS Laboratories in Kalgoorlie.
The company is also conducting metallurgical and geotechnical studies to support future project development planning, and intends to integrate the new structural data and logging observations into an updated 3D model to refine targets for the next stage of drilling.
