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Verity Resources Unveils Major Gold Discoveries at Monument Project in WA

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By Colin Hay - 
Verity Resources ASX VRL Major Gold Discoveries Monument Project WA
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Verity Resources (ASX: VRL) has reported additional significant gold hits from a 54-hole infill drilling program at its Monument gold project in Western Australia’s Laverton goldfields.

The company, which has so far only tested approximately 10% of a 20-kilometre strike with detailed air core and reverse circulation drilling, now has as many as 60 priority targets to follow up.

With the Phase 1 program at Monument’s Korong deposit now complete, Verity has commenced a Phase 2 diamond and reverse circulation drilling campaign across 77 holes at Korong and the adjacent Waihi site, targeting conversion of a portion of the combined 154,000-ounce Inferred gold resource to higher-confidence categories.

Highlight Gold Hits

The latest highlight high-grade gold hits from Korong included 7.7m at 6.37 grams per tonne from 78m including 1.0m at 38g/t, 3.9m at 6.35 g/t from 96m including 1.0m at 15.3g/t, and 4.8m at 2.79g/t from 76m including 1m at 11.3g/t.

“We are very pleased to report further exceptional results from the phase 1 infill drill program that is now complete—it has […] confirmed the mineralisation model at the Korong deposit, and once again validates our resource upgrade and expansion strategy,” director Patrick Volpe said.

“The second batch of results continues to demonstrate consistent intercepts of more than 1g/t, and we now turn our attention to the Phase 2 program in progress at both Korong and Waihi that aims to test the potential for resource expansion at depth.”

Step-Out Extensions

Verity is using the Phase 2 drilling to test step-out extensions and infill across the most prospective zones of the project’s inferred resource.

Mr Volpe said the current program will complete the infill drilling Verity needs to increase its geological confidence, as well as facilitate the upgrade of existing resource from Inferred to Indicated, in the lead-up to the next phase of scoping studies.

Monument comprises roughly 195km of tenement adjacent to Genesis Minerals’ (ASX: GMD) 3.3Moz Mt Morgan gold project, and in the vicinity of other major gold deposits and processing plants.

Verity also owns and operates the Pimenta rare earths project in Brazil, and an expanding polymetallic portfolio in Botswana.