Verity Resources (ASX:VRL) has been granted an exploration licence at its wholly owned Monument Gold Project in the Laverton Goldfields in Western Australia, expanding the company’s tenure to 405km2.
The new tenement covers an area of 210km2 within the project, which hosts an inferred resource estimate of 3.3 million tonnes @ 1.4 grams per tonne gold at the Korong and Waihi deposits.
Director Patrick Volpe says the grant of licence E39/2558 more than doubles the company’s footprint at the project.
“This new tenure covers highly prospective geology and provides new immediate exploration opportunities,” Volpe says.
“This further expands the value and gold exploration potential at Monument, which already contains the 154,000 ounce Korong-Waihi resource (further results from 6,000m of infill and step out drilling pending), over 20km of prospective banded iron formation strike and multiple untested intrusive targets.
“We look forward to progressing systematic follow-up work to define and prioritise new drill targets.”
Verity will begin a field reconnaissance program at the new tenement following a geophysics review and historical data acquisition.
Located around 40km west of Laverton, the Monument Gold Project is adjacent and runs along strike of Genesis Minerals’ (ASX:GMD) 3.3 million ounce gold Laverton Project.
The monument hosts around 20km of untested banded iron formation which is interpreted to be the same unit that hosts Genesis’ Westralia gold deposit which holds 1.4 million ounces.
Verity Resources is a diversified mineral explorer focused on its projects in Brazil, Botswana, and Western Australia, with a portfolio prospective for critical minerals, lithium, rare earths, gold, and silver.
Write to Maddison Elliott at Mining.com.au
Images: Verity Resources
