Verity Resources Confirms Gold Mineralisation at Three Targets within Monument Project BIF Corridor

Verity Resources (ASX: VRL) has confirmed gold mineralisation at the A4, A1, and Perseverance prospects spanning the 9-kilometre banded iron formation (BIF) corridor along strike from the Korong-Waihi resource within its Monument project in Western Australia.

First-pass aircore drilling of 58 holes for a total 2,622 metres returned gold in 19 of a total 24 holes at A4 and A1 (including 13 of 15 holes at A4), representing the largest previously untested strike segment of the Perseverance-A1 corridor.

Best assays from 4m composite samples were 8m at 0.73 grams per tonne gold from 8m, 6m at 0.4g/t gold from 11m, and 7m at 0.73g/t gold from 12m.

Other highlight hits were 4m at 0.38g/t gold from 58m, 2m at 0.87g/t gold from 15m, 7m at 0.34g/t gold from 47m, and 4m at 0.54g/t gold from 7m.

Prospective Footprint Expanded

Director Patrick Volpe said drilling had systematically expanded Monument’s prospective footprint.

“First-pass aircore is designed to tell us where gold sits in a system and this program has done exactly that,” he said.

“We returned gold in 19 of 24 holes drilled at A4 and A1, over sections of the Monument BIF corridor that had never been drilled and on the same horizon that hosts our 137,700 ounce Korong-Waihi resource.”

“That is an encouraging early indication that the mineralised system continues well beyond the current resource estimate.”

Composite Re-Assaying

Verity is planning to re-assay individual 1m splits from the best composite intervals ahead of reverse circulation drilling to define true width and grade and test the mineralisation for its potential to contribute to future resource growth.

“Next steps to advance these targets is with resource-defining drilling, and working systematically through the numerous additional BIF-hosted and syenite intrusive targets still untested along 20km of strike,” Mr Volpe said.

He believes this work could “systematically add ounces” to the overall resource.

Verity defined new gold intrusive targets and anomalies last month from infill and soil sampling at the Gum Well, Star Well, McKenzie Well, McKenzie Granite, and Korong Syenite prospects.

“With approximately 60 targets identified across Monument, and each campaign systematically de-risking the most prospective corridors, we are building a discovery pipeline commensurate with our address in one of Australia’s premier gold districts,” Mr Volpe added.