Verity Resources (ASX: VRL) has reported that step-out drilling at its wholly-owned Monument gold project in Western Australia has significantly increased the mineralised strike of the Korong and Waihi deposits.
Gold mineralisation within the banded iron formation (BIF) main lode has now been confirmed across more than 1,400 metres at Korong compared with the previous 900m within the resource envelope.
Best intercepts were 2.9m at 2.51 grams per tonne gold from 8m, 1m at 1.40g/t gold from 31m, 1.9m at 1.31g/t gold from 52m, and 1m at 0.73g/t gold from 63m.
Importantly, the intercepts demonstrate that gold grades are maintained at shallow depths outside of the current resource boundary, with positive implications for potential open pit mining scenarios.
Similar Mineral Characteristics
The mineralised strike at Waihi was also extended from 150m to over 800m, with high-grade character maintained in extensions such as 3.2m at 5.27g/t gold including 0.8m at 21.3g/t intercepted 200m from the main resource envelope.
Other highlights were 1.7m at 1.76g/t gold from 32m, 0.8m at 0.74g/t gold from 9m, 2.4m at 1.75g/t gold from 17m, and 0.8m at 0.61g/t gold from 39m.
While Waihi is smaller than Korong, it sits on the same 20-kilometre BIF corridor and shares the same replacement-style mineralisation character.
The combination of high-grade surface step-outs and diamond-confirmed depth extensions to 179m demonstrates the deposit has substantial growth potential along the BIF main lode.
System Growth Potential
Director Patrick Volpe said the latest drilling results were impressive.
“Step-out drilling has fundamentally expanded the scale of Korong and Waihi and demonstrates that the current 154,000-ounce resource captures only a fraction of the total mineralised system,” he said.
“With the strike now significantly expanded at both deposits, we believe the growth potential at Monument is substantial—and we are still at an early stage of testing this 20km corridor.”
Verity confirmed an updated mineral resource estimate from infill drilling was on track for April, with results to date supporting a confidence upgrade from Inferred to Indicated for a select portion of Korong and Waihi.
“We look forward to delivering this update incorporating all results from the 2025–2026 drilling campaign to shareholders as a key milestone in demonstrating the growth trajectory of the Monument gold project,” Mr Volpe added.
