Verity Resources Reports High-Grade Assays Ahead of Resource Update at Monument Gold Project

Verity Resources (ASX: VRL) has reported grades of up to 5.41 grams per tonne gold from infill drilling at the Waihi and Korong deposits within its Monument project in Western Australia.

The Phase 2 program covered 29 holes for 1,955 metres across areas adjacent and along strike of the 3.3-million-ounce Laverton project owned by Genesis Minerals (ASX: GMD).

The final batch of assays from the 11,000m campaign confirmed consistent gold mineralisation within the existing resource envelopes.

Best overall true-width intercepts were 3.2m at 4.14g/t gold from 110m, 2.4m at 5.41g/t gold from 87m, 4.1m at 3g/t gold from 36m, and 4.7m at 2.56g/t gold from 63m.

Standout Waihi Results

Drilling at Waihi delivered standout intercepts of 0.5m at 10.82g/t gold from 91m and 4.8m at 4.46g/t gold including 0.8m at 13.05g/t.

Other hits included 3.2m at 5.27g/t gold including 0.8m at 21.3g/t, 3m at 4.67g/t gold including 0.8m at 16.2g/t, and 2.7m at 5.71g/t gold from 62m.

These results confirm Waihi as a high-grade deposit at 2.1g/t gold or 50% above the global 154,000oz resource grade.

Assays are still pending for 28 step-out and diamond holes for a total 2,263m designed to test resource extension potential at both Korong and Waihi.

Mineral Resource Upgrade

Verity director Patrick Volpe said the Phase 2 results demonstrated consistency of gold mineralisation across the Waihi and Korong lode system, and would contribute to a planned resource upgrade.

“These results reinforce what we have been seeing throughout this campaign—a robust, repeatable banded iron formation-hosted gold system with exceptional grade continuity at the tighter drill spacing required for a confidence upgrade,” he said.

“Importantly, we are intersecting meaningful widths and grades near surface and at depth within the existing resource envelope—exactly what we want to see as we move towards an updatied mineral resource estimate.”

Mr Volpe said the MRE update would reflect significantly improved drill density and strengthened geological confidence generated by the Phase 2 drilling campaign as the company turns its focus to the strong pipeline of assays remaining from Korong, Waihi, and targets along the Monument trend.