Consistency is key: Verity Resources reports multiple 1g/t+ gold grades at Monument

• VRL reports consistent gold grades from resource upgrade drilling at Monument project
• Company targeting partial upgrade to indicated for 154,000oz Korong deposit
• More assays pending while Phase 2 drilling commences

Special Report: Verity Resources says infill drilling from the Phase 1 resource upgrade and expansion program at its Monument gold project in WA has consistently returned gold intercepts above 1g/t.

The 3.3Mt at 1.4g/t gold project is adjacent and along strike of Genesis Minerals (ASX:GMD) 3.3Moz Mt Morgan gold project.

A Mineral Resource Estimate of 154koz of gold was released back in 2021 on the Korong and Waihi deposits, which occur along ~20km of relatively untested banded iron formation, interpreted to be the same unit that hosts the 1.4Moz Westralia gold deposit, located immediately southeast of Monument.

To date, only ~10% of the potential 20km strike has been drilled with detailed air core and reverse circulation drilling.

Notable results from this drill campaign include:

• 3.9m at 3.81g/t from 57m (KORC25005);
• 2.9m at 3.60g/t from 30m (KORC25012);
• 4.8m at 3.27g/t from 86m (KORC25037);
• 2.9m at 3.14g/t from 30m (KORC25028);
• 1.9m at 2.66g/t from 34m (KORC25004);
• 5.8m at 2.50g/t from 15m (KORC25006);
• 7.7m at 1.76g/t from 31m (KORC25038);
• 19.4m at 1.65g/t from 84m including 5.8m at 2.25g/t (KORRC25025);
• 9.7m at 1.54g/t from 30m (KORC25019); and
• 6.8m at 1.40g/t from 10m (KORC25003).

Verity Resources (ASX:VRL) says this first batch of results shows excellent reconciliation against historical drilling, verifying historical unvalidated drill holes, consistently returning thick intercepts over 1g/t gold across the main BIF lode at the 139,000oz Korong deposit.

The progress results also demonstrated good grade and continuity at 25m x 25m spacing as the company intends to upgrade select parts of the resource to indicated status as part of its mineral resource estimate (MRE) upgrade studies.

The program is now 50% complete with more results expected in the coming weeks.

Watch more from VRL: Verity grows the war chest in WA gold hunt

Looking for depth and strike extensions

The lodes remain open along strike and down plunge, with Phase 2 RC and diamond drilling now underway aiming to extend high-grade shoots and test depth and strike extension potential.

“The first batch of assays achieved exactly what the Phase 1 drill program was designed for: confirm the BIF-hosted lode system, demonstrate reliable grade continuity, and validate legacy drilling so it can be used with confidence in the upcoming resource upgrade work on a targeted portion of the 154,000oz inferred resource,” VRL director Patrick Volpe said.

“Consistent >1g/t intercepts across all intercepts reported, with further excellent, thick intercepts like 19.4m at 1.65g/t Au (KORC25025) and 4.8m at 3.27g/t Au (KORC25037), reinforces our view that the Korong deposit hosts coherent, repeatable mineralisation with room to grow along strike and at depth.

“With record gold prices and Phase 2 diamond and RC drilling commencing, we are well positioned to continue aggressively executing our resource upgrade and expansion strategy.

“We look forward to reporting the next batch of Phase 1 results and further exploration updates.”

This article was developed in collaboration with Verity Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.