USD $4,143.86
Goldman New WA tenement unlocks fresh exploration ground adjacent to Genesis Minerals’ Laverton Project
Verity Resources Limited (ASX:VRL) has secured Exploration Licence E39/2558, more than doubling the size of its 100%-owned Monument Gold Project in Western Australia’s Laverton Goldfields to approximately 405km².
The new tenement spans around 210km² in a highly prospective region, adjacent and along strike of Genesis Minerals’ (ASX:GMD) 3.3Moz Laverton Project. This strategic expansion opens up significant exploration opportunities beyond Verity’s existing 154koz Inferred Mineral Resource Estimate at the Korong (139koz) and Waihi (15koz) deposits.
Field reconnaissance is planned to begin shortly, following a review of geophysical data and historical exploration results. The expanded project area includes ~20km of underexplored banded iron formation (BIF), interpreted to be geologically similar to Genesis’ 1.4Moz Ulysses deposit.
Further assay results from an 11,000m resource expansion and infill drilling program at Korong-Waihi are expected in the coming weeks.
Verity Director, Patrick Volpe, commented,
The grant of E39/2558 more than doubles our Monument Gold Project footprint in the Laverton Goldfields. This new tenure covers highly prospective geology and provides new immediate exploration opportunities.
This further expands the value and gold exploration potential at Monument, which already contains the 154koz Korong-Waihi resource (further results from over 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.
