Verity Resources (ASX:VRL) has extended gold mineralisation along the banded iron formation corridor hosting its Korong-Waihi resource at the Monument Gold Project in Western Australia.
A 58-hole, 2,622m aircore drilling program tested five prospects, returning gold above the 0.1 grams per tonne reporting cut-off in 19 of 24 holes drilled at A4 and A1.
At A4, 13 of 15 holes intersected gold over about 1.1km of drill-tested strike. Results include 7m @ 0.73g/t gold (Au) from 12m, 2m @ 0.87g/t Au from 15m, and 4m @ 0.53g/t Au from 44m.
The company says the drilling represents the first systematic shallow test of A4, which occupies the largest previously untested section of the 9km corridor between A1 and Perseverance.
At A1, six of nine holes returned gold over about 450m of strike, extending mineralisation northwest of the existing Korong-Waihi resource. Intersections include 8m @ 0.73g/t Au from 8m, 4m @ 0.54g/t Au from 7m, and 6m @ 0.40g/t Au from 11m.
Director Patrick Volpe says the results indicate that the mineralised system continues beyond the current resource.
“First-pass aircore is designed to tell us where gold sits in a system, and this program has done exactly that,” Volpe says.
A further 20 holes at Perseverance returned anomalous gold, including 5m @ 0.21g/t Au from 4m. Drilling at Cooper Well and Korong Syenite did not return significant gold mineralisation.
Most results were obtained from 4m composite samples, which can dilute narrower intervals. Verity says it plans to re-assay 1m splits from selected composites before reverse circulation drilling to determine the mineralisation’s grade and true width.
Korong-Waihi hosts 2.5 million tonnes @ 1.72g/t Au for 137,700 ounces.
Write to France Pinzon at Mining.com.au
Images: Verity Resources
