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Verity Resources Limited (ASX:VRL)

ALERT: Price-sensitive ASX Announcement for VRL
Current share price for VRL : $0.016 -0.003 (-15.79%)+
Announcement
Release
5 Nov 2025 9:09AM
Price at Release
$0.019
Full Release
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Summary
Verity Resources Limited has completed a phase of diamond drilling at the Monument Gold Project in Laverton, WA. The drilling aimed to explore extensions of the Banded Iron Formation (BIF) at depth, focusing on two deposits, Korong and Waihi, outside the existing inferred resource of 154,000 ounces of gold. The drill program included seven diamond holes totaling 1,230 meters and aimed to expand the resource by intersecting BIF-hosted stratigraphy. The results indicated promising zones of altered BIF with veining and sulphides. Verity Resources plans to continue with reverse circulation drilling as part of a 10,000-meter program to further explore high-grade shoots and test depth/strike potential for resource expansion. The project is located in a rich gold district with only a small portion of the potential 20km strike having been drilled to date.
Key Points
  • Diamond drilling completed at Monument Gold Project in Laverton, WA.
  • Seven holes drilled for a total of 1,230 meters targeting Banded Iron Formation (BIF).
  • Drilling took place outside the current 154,000-ounce inferred gold resource.
  • Korong and Waihi deposits explored for resource expansion.
  • Promising intersections with altered BIF, veining, and sulphides.
  • Only 10% of the 20km BIF trend has been drilled.
  • Continued reverse circulation drilling as part of a 10,000-meter program.
  • Future exploration targets include untested structures along the BIF trend.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.