Verity Resources (ASX: VRL) has used an induced polarisation (IP) geophysical survey to define a new near-surface gold target at the Perseverance prospect within its 100%-owned Monument project in Western Australia’s Laverton district.
The survey outlined a distinct chargeability anomaly coinciding with outcropping banded iron formation (BIF) and earlier rock chip results above one gram per tonne gold, interpreted as evidence of potential sulphide replacement mineralisation similar to that hosting the nearby Korong and Waihi deposits.
With approvals already in place and a reverse circulation rig operating on site, Verity plans to begin drilling Perseverance in late November.
Strong Geological Correlation
The company conducted the IP survey across three lines spaced at 200 metres covering an area of about 500m by 1.2 kilometres, revealing a pronounced chargeability high coincident with low resistivity.
The anomaly aligns with a magnetic depletion zone along the BIF horizon located 2km along strike of the Waihi resource.
Verity has interpreted this zone as the same alteration style associated with the Korong deposit 8km to the southeast.
Independent interpretation by West Coast Geophysics confirmed that the chargeability feature reaches up to 20 millivolts per volt—consistent with an orogenic gold target worthy of immediate testing.
Verity director Patrick Volpe said that success at Perseverance could open up new opportunities along the broader 20km BIF trend, with the target’s position on the same mineralised corridor as the Korong–Waihi system potentially providing a low-cost pathway to expanding the Monument resource.
Cleared for Drilling to Commence
The Perseverance target has been cleared for drilling, with program of works approvals in place and heritage assessments completed.
Drilling will initially test the core of the IP anomaly to assess mineralisation continuity along strike and down-dip, with results to guide potential follow-up surveys across other high-priority targets including Waihi, A4, A39, and A1.
The 195 sq km Monument project lies 40km west of Laverton and directly along strike from Genesis Minerals’ (ASX: GMD) Mt Morgan project.
It hosts a combined inferred resource of 3.26 million tonnes at 1.4g/t gold for 154,000 ounces, defined across the Korong (139Koz) and Waihi (15Koz) deposits along the 20km-long BIF sequence.
Only about 10% of that sequence has been systematically drilled to this point, leaving multiple structural and syenite-associated targets untested across the corridor.
