Maiden Indicated MRE of 66,200 oz at 1.75 g/t lifts Monument total to 137,700 oz. Metallurgical recoveries hit 97% as Botswana exploration starts.
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Verity Resources (ASX: VRL) delivered a maiden Indicated mineral resource estimate at its Monument project in Western Australia, lifting the total resource to 137,700 ounces of gold and opening a path toward mine development studies.
The new Indicated MRE of 1.18 million tonnes at 1.75 grams per tonne gold for 66,200 ounces followed an 11,000-metre infill drilling program. The project's total MRE now sits at 2.5 million tonnes at 1.72 g/t for 137,700 ounces across both Indicated and Inferred categories.
A separate maiden high-grade underground resource of 1.37 million tonnes at 1.75 g/t gold for 77,100 ounces was defined below the Korong and Waihi pit shells, the company said in its June quarterly report.
Metallurgical testwork returned recoveries of up to 97% across weathered and fresh rock at Waihi, adding to earlier recoveries of up to 98.1% from Korong. Gravity recoveries hit 29% with low reagent consumption on both composites. The recovery profiles between the two deposits aligned, giving the company confidence in a single conventional processing route for Monument.
Verity also advanced exploration across the broader Monument footprint. A soil sampling campaign returned a coherent gold-in-soil anomaly over 1.1 kilometres of strike at a peak value of 64 parts per billion gold, open to north and south and coincident with a magnetic high-level intrusive and copper-tellurium rock-chip pathfinders. At McKenzie Well, a 2.2-kilometre anomaly grading more than 5 ppb gold was identified along the eastern granite-greenstone contact, with a further 1.1-kilometre anomaly along the south-eastern contact.
The company started a 56-hole aircore drilling campaign for 2,800 metres across the Perseverance, A1, A4, Korong Syenite, and Cooper Well targets, testing undrilled strike along the 20-kilometre banded iron formation corridor that hosts Korong and Waihi.
In Botswana, Verity commenced first-pass soil geochemical sampling and geological mapping across 903 square kilometres of tenements in the Limpopo Mobile Belt, screening for copper, silver, gold, and nickel. An exploration pitting and bulk sampling program has been designed for the main Airstrip, Dibete, and Maibele North prospects to expose near-surface copper-silver and nickel-copper-platinum group elements mineralisation. A previous regional VTEM survey identified 23 untested base metals anomalies across the portfolio, most outside the three flagship prospect areas.
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