Verity Resources (ASX: VRL) has returned strong gold intercepts from the first batch of Phase 2 drilling at the Korong deposit within its Monument gold project in Western Australia, reinforcing the company’s confidence in the existing resource and its geological model.
Assays from the first nine holes confirm grade continuity across the main banded iron formation lode and extend the consistency established during Phase 1 drilling, supporting the company’s objective of upgrading parts of the resource to higher confidence categories.
The results form part of a broader resource upgrade and expansion campaign that Verity completed across Korong and Waihi, with further assay results from the remaining Phase 2 holes still pending.
Reinforced Resource Confidence
Verity completed eight reverse circulation holes and one diamond hole in the first Phase 2 batch at the 139,000-ounce Korong deposit, targeting infill positions designed to tighten drill spacing and validate historical data.
The company reported multiple high-grade gold intercepts such as 6.8 metres at 4.84 grams per tonne gold from 114m, which included 3m at 9.89g/t, alongside several additional intervals grading above 2g/t gold.
These results demonstrate strong reconciliation against historical drilling and confirm grade continuity at 25m by 25m spacing across the main lode.
Verity said the consistency of the intercepts supports its plan to upgrade select portions of the Korong resource to Indicated status in the next mineral resource estimate.
Depth Potential Confirmed
A deep diamond hole intersected the Korong banded iron formation lode approximately 319m downhole, confirming the mineralised system persists well below the current resource envelope.
The hole returned an interval of 2.4m at 0.74g/t gold and displayed strong geological indicators including sulphides, veining, and alteration that extended beyond the target depth.
Verity said the intersection provides a clear vector for follow-up drilling to test for higher-grade shoots down-plunge and along key structural corridors.
The company has now completed its two-phase resource upgrade and expansion campaign at Monument, drilling a total of 10,860m across Korong and Waihi.
The program focused on infill drilling to upgrade existing Inferred resources, twinning historical holes to validate legacy data, and selective step-out drilling to test for extensions along strike and at depth.
Positioning Monument for the Next Stage
The Monument project hosts a JORC-compliant Inferred Resource of 154,000oz of gold across the Korong and Waihi deposits, which sit along a largely untested banded iron formation corridor in the Laverton Goldfields.
Verity said only a small portion of the prospective strike length has been systematically drilled to date, leaving significant scope for further resource growth through targeted follow-up programs.
The company expects further assay results from the remaining Phase 2 holes to be reported as they are received, with the full dataset feeding into an updated geological model and mineral resource estimate.
It plans to use the outcomes of the completed drilling campaign to inform the next phase of technical studies as it advances Monument toward higher-level development decisions.
