Verity Resources Limited (VRL: ASX), a company focused on resource exploration, has announced the granting of Exploration Licence E39/2558 at its 100%-owned Monument Gold Project in Western Australia’s Laverton Goldfields. Verity Resources also holds a supply critical metals portfolio via a joint venture that includes rare earth elements, lithium, gold, base and precious metals in Brazil. The Monument Gold Project currently hosts a 3.3Mt @ 1.4g/t Au (154koz) Inferred Mineral Resource Estimate (MRE) at the Korong and Waihi deposits.
The newly granted exploration licence covers approximately 210km², more than doubling Verity’s contiguous prospective landholding at the Monument Gold Project to approximately 405km². The Monument project also hosts around 20km of relatively untested banded iron formation (BIF), interpreted to be the same unit that hosts the Genesis Minerals Westralia gold deposit. Multiple additional BIF/basalt/intrusion-hosted targets remain untested across the broader project area.
Patrick Volpe, Director of Verity, stated that the grant of E39/2558 significantly expands their footprint in the Laverton Goldfields, covering highly prospective geology and providing immediate exploration opportunities. The company plans to progress systematic follow-up work to define and prioritise new drill targets. Further gold assays are expected in the coming weeks from the recently completed ~11,000m drill program, aimed at upgrading and expanding the 154koz Korong-Waihi resource.
Following the tenement grant, Verity is set to complete a comprehensive geophysics review, historic data acquisition, and field reconnaissance program to identify potential follow-up areas for drill-testing. The company aims to further unlock the exploration potential at Monument, building on the existing resource and prospective geological features.
