Verity Resources Increases Monument Gold Project MRE by 20%

Verity Resources (ASX: VRL) has announced a 20% uplift to the mineral resource estimate (MRE) at its wholly owned Monument gold project in Western Australia.

The new resource sits at 1.37 million tonnes grading 1.72g/t gold for 137,700 contained ounces, including a maiden open-pit Indicated estimate of 1.18Mt at 1.75g/t gold for 66,200oz.

The company has also released a maiden underground component of 1.37Mt at 1.75g/t gold for 77,100oz (Indicated and Inferred) below the Korong and Waihi pit shells, providing a clear depth-extension component and long-term mine plan optionality for the project.

Monument’s global updated MRE totals 2.5Mt at 1.72g/t gold for 137,700oz (Indicated and Inferred), reported within optimised pit shells at a 0.5g/t cut-off and below those shells in fresh rock at a 1g/t cut-off.

Drill Data Revalidation

The updated MRE is underpinned by an 11,000m reverse circulation and diamond drilling program inside the previous MRE envelope that facilitated geological remodelling of all lodes.

Older drill data from the previous MRE were revalidated to a high standard including new twin holes that confirmed historical sampling and assaying results.

Select diamond holes provided detail on the geological context of mineralisation, generating 222 core samples for geotechnical studies to aid improved confidence in the new MRE.

The MRE uplift represents a more selective, higher-confidence, and development-focused resource base to provide Verity with a stronger platform to progress the project towards development and mine planning.

The company is now advancing scoping-level technical studies, while also assessing development pathways and third-party processing options in the Laverton region and planning follow-up drilling to test resource growth opportunities, both along strike and at depth.

Specific Objective Realised

Verity director Patrick Volpe said the program’s specific objective to convert a defined portion of the resource into the Indicated category had been achieved.

“We now have a clear two-stage technical pathway: a near-term open-pit starter operation supported by an Indicated Resource, with an underground depth-extension component providing long-term mine plan optionality,” Mr Volpe said.

“With the Indicated resource now in hand, we are focused on progressing Monument toward development and mine planning, while at the same time continuing to unlock the further resource growth targets identified during recent drilling.”

“We see substantial potential to continue adding ounces along this 20-kilometre prospective corridor as we continue our ongoing exploration programs.”