Verity Resources Reports High Grade Gold Intercepts from Waihi Step Out Drilling

Verity Resources Limited (ASX VRL) has reported further strong assay results from Phase Two drilling at the Waihi prospect within its one hundred percent owned Monument Gold Project in the Laverton Goldfields of Western Australia.

The results come from the first thirty three reverse circulation drill holes of the Phase Two program, totalling one thousand nine hundred and forty five metres. The drilling was designed to increase confidence in the existing fifteen thousand ounce Waihi inferred resource and to test for extensions beyond the current resource outline.

The company said step out drilling has intersected gold mineralisation outside the present resource footprint, confirming that the mineralised system continues beyond the defined resource boundary and remains open for expansion. Infill drilling also returned consistent banded iron formation hosted gold mineralisation, supporting the current lode model and demonstrating grade continuity.

Highlighted intercepts from the program include:

4.8 metres at 4.46 grams per tonne gold from sixty metres including 0.8 metres at 13.05 grams per tonne
3.2 metres at 5.27 grams per tonne gold from twenty five metres including 0.8 metres at 21.3 grams per tonne from a step out hole
3.0 metres at 4.67 grams per tonne gold from seventy one metres including 0.8 metres at 16.2 grams per tonne
2.4 metres at 1.75 grams per tonne gold from seventeen metres from a step out hole
4.5 metres at 1.66 grams per tonne gold from ninety four metres
6.5 metres at 0.86 grams per tonne gold from twenty eight metres from a step out hole

Verity has now received Phase Two assay results from fifty two holes totalling four thousand and ninety seven metres. A further fifty eight holes totalling four thousand four hundred and ninety six metres remain pending from the broader program. These include additional infill drilling, step out and diamond drilling aimed at testing extensions along strike and at depth, as well as regional prospect drilling. Results will be reported as assays are returned.

The company noted that only around ten percent of the approximately twenty kilometre banded iron formation trend has been systematically drilled at the Monument Gold Project. Multiple structural and syenite associated targets remain largely untested, providing scope for further discoveries.

Verity Director Patrick Volpe said Phase Two drilling continues to deliver consistent banded iron formation hosted gold mineralisation across the Waihi and Korong prospects. He said the step out results are particularly encouraging as they confirm mineralisation beyond the current resource outline and support the geological model underpinning the existing resource.

The Monument Gold Project is located in the Laverton Goldfields region and hosts multiple gold prospects along a large mineralised corridor. The company is using the current drilling campaign to improve confidence in the Waihi resource and to assess its potential to grow through continued exploration.