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Verity Resources Completes Key Survey Ahead of Drilling at Perseverance Prospect

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By Colin Hay - 
Verity Resources ASX VRL Key Survey Drilling Perseverance Prospect
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Verity Resources (ASX: VRL) has completed a critical induced polarisation (IP) survey in the lead-up to drilling at the Perseverance prospect within the company’s Monument gold project in Western Australia.

Results from the survey across 500 metres of strike will help define gold sulphide target zones from surface to 250m depth, and provide key data for the upcoming drilling program.

Perseverance lies 2km along strike of the Waihi deposit and at the northwestern end of the 20km long Korong-Waihi banded iron formation (BIF) corridor, where Verity is currently completing resource upgrade drilling.

Early Perseverance Promise

Verity previously identified Perseverance’s potential in 2020 when reconnaissance rock-chip sampling over 1.4km of strike returned a number of samples measuring up to 21.5 grams per tonne gold.

Similar sampling from the other prospects along the A1-Perseverance corridor – including Waihi, A4 and A1 – returned anomalous results of approximately 1.0g/t gold from mineralised BIF outcrops.

Historical workings also identified widespread distribution of gold mineralisation along the prospective corridor.

‘First Recent Systematic Test’

“The IP work at Perseverance is our first recent systematic test of BIF-hosted gold targets along strike and outside the current 154,000 ounce Korong–Waihi resource,” director Patrick Volpe said.

“With only approximately 10% of the 20km corridor drilled to date – and rock chips up to 21.5 g/t gold – any success here will be followed by rapid RC drilling and across look-alike anomalies.”

Verity released results last week from infill drilling in its Phase 1 resource upgrade and expansion program at Monument, with assays confirming consistent gold mineralisation from 54 completed Phase 1 RC holes across the 3,630m it drilled.

Highlight hits were 7.7m at 6.37g/t including 1.0m at 38 g/t, 3.9m at 6.35g/t including 1.0m at 15.3g/t, and 4.8m at 2.79 g/t including 1.0m at 11.3g/t.

The company will use these results to help convert a portion of the inferred resource at Korong and Waihi to higher confidence categories.