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Verity Resources ( (AU:VRL) ) has issued an announcement.
Verity Resources reported strong progress at its Monument Gold Project, completing an 11,000m drill program at the Korong and Waihi deposits that underpins an imminent upgrade from Inferred to Indicated resources. Drilling extended mineralised strike by more than 1km, confirmed high-grade mineralisation outside current resource envelopes, and delivered excellent metallurgical recoveries of up to 98.1%, supporting the potential for economically robust mine development.
The company more than doubled its Monument landholding to about 405km² with a key exploration licence grant and has begun systematic soil sampling over new geophysical targets. Across its broader portfolio, Verity is planning the next field program at its Botswana copper-silver assets, advancing its Brazilian Pimenta rare earths project on the back of high-grade results, and has strengthened its balance sheet with a fully subscribed $2 million entitlement offer, ending the quarter with $1.81 million in cash.
More about Verity Resources
Verity Resources Limited is an Australia-based exploration company focused on gold, copper-silver and rare earth elements, with its flagship Monument Gold Project in the Laverton Goldfields of Western Australia. The company also holds copper-silver prospects in Botswana and the Pimenta rare earths project in Minas Gerais, Brazil, targeting large-scale, high-value mineral systems across multiple commodities and jurisdictions.
Average Trading Volume: 1,172,557
Technical Sentiment Signal: Sell
Current Market Cap: A$9.82M
For an in-depth examination of VRL stock, go to TipRanks’ Overview page.