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An announcement from Verity Resources ( (AU:VRL) ) is now available.
Verity Resources has delivered a maiden Indicated Mineral Resource at its Monument Gold Project, upgrading geological confidence at the Korong and Waihi deposits and materially lifting grades compared with its 2021 estimate. The updated JORC (2012) Mineral Resource now totals 2.5Mt at 1.72g/t for 137,700 ounces of gold across Indicated and Inferred categories, with most of the Indicated component sitting within open-pit optimisation shells and amenable to potential open-pit mining.
The company has also defined a new high-grade underground resource below the planned pits, providing a clear depth-extension and long-term mine-life optionality for Monument. Management says the higher-confidence, development-focused resource base underpins plans for near-term open-pit development, ongoing technical and economic studies, and further drilling along the underexplored 20km corridor to pursue additional resource growth at depth and along strike.
More about Verity Resources
Verity Resources Limited is an Australian gold exploration and development company listed on the ASX and FSE, focused on its 100%-owned Monument Gold Project in the Laverton Goldfields of Western Australia. The project sits on approximately 20km of prospective banded iron formation strike in a region hosting major deposits, positioning Verity within a well-established gold-producing district.
YTD Price Performance: 11.76%
Average Trading Volume: 1,036,508
Technical Sentiment Signal: Sell
Current Market Cap: A$9.33M
See more data about VRL stock on TipRanks’ Stock Analysis page.