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Verity Resources ( (AU:VRL) ) just unveiled an announcement.
Verity Resources has substantially completed an ~11,000 metre, two-phase drilling campaign at its Korong and Waihi deposits within the Monument Gold Project, designed to upgrade and expand existing resources adjacent to Genesis Minerals’ large Laverton project. The latest 29 reverse circulation infill holes confirm consistent, high-grade banded iron formation-hosted gold mineralisation, notably at Waihi, which averages 2.1 grams per tonne gold, about 50% above the global 154,000 ounce resource grade.
The tight 25-by-25 metre infill grid has delivered the geological and grade continuity required to support a planned Mineral Resource Estimate update, targeted to convert parts of the Korong-Waihi resource from Inferred to Indicated status under JORC (2012). Management says the campaign, bolstered by validated historical drilling, underpins a pathway toward a development-ready resource while a significant pipeline of pending step-out and regional assays could further extend mineralisation and enhance the broader growth case at Monument.
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 Gold District of Western Australia. The company is advancing the Korong and Waihi deposits, targeting resource growth and higher-confidence classifications to support a potential progression to mining.
Average Trading Volume: 3,281,746
Technical Sentiment Signal: Sell
Current Market Cap: A$11.78M
For detailed information about VRL stock, go to TipRanks’ Stock Analysis page.