Verity Resources Identifies New IP Drill Target at Perseverance - A Potential Gold Discovery Story?
- Noel Ong
- 4 days ago
- 6 min read
Announcement
New IP Gold Target To Be Drilled at Perseverance Prospect 11 November 2025 (click here to view the announcement)
Verity Resources Limited (ASX: VRL) has released a strong technical update from the Monument Gold Project, located approximately 40 km west of Laverton in Western Australia (Figure 1). The Company has completed an Induced Polarisation (IP) survey across the Perseverance Prospect, resulting in a newly defined, near-surface chargeability anomaly that aligns with outcropping BIF units and historical gold-bearing rock chips.
Figure 1: Location of Perseverance Prospect at Monument Gold Project (source: VRL).
With the RC rig already operating at Korong and Waihi, Verity is preparing to drill this untested anomaly by late November, marking the next stage of systematic exploration along the 20 km BIF corridor.
The Business of the Company: Focus – Projects
Verity Resources is progressing exploration across its 100%-owned Monument Gold Project in WA, where a 154 koz Inferred Mineral Resource has already been defined across the Korong and Waihi deposits (Table 1). The Company’s exploration strategy is built on:
Systematic testing of BIF-hosted gold targets along a 20 km strike corridor.
Expanding drilling coverage on an area of which only ~10% has been properly drill-tested to date.
Leveraging new geophysical data to refine drill targeting across multiple BIF and syenite-associated prospects.
Advancing parallel strategic positions in Brazil (lithium, REE) and Botswana (nickel–copper–PGE), adding long-term critical metals exposure.
Table 1: Inferred Resource was calculated at Korong and Waihi by CSA Global Pty Ltd in 2021 (see Table 2) using a 0.5g/t cut-off grade. See ASX announcement on 2 August 2021, “Mineral Resource Estimate Declared for Monument Gold Project”. (source: VRL).
Highlights – New Chargeability Anomaly Confirmed at Perseverance - A Gold Target
High-priority IP anomaly identified at Perseverance, interpreted as a chargeability high coincident with BIF outcrop
The anomaly sits along the same BIF stratigraphy hosting the 154 koz Korong–Waihi resource.
Previous rock chips returned >1 g/t Au, directly above the newly defined chargeability zone:
IP lines across the 1.2 km corridor at Perseverance align with gold-bearing rock chips, confirming a coherent BIF-hosted chargeability trend toward Waihi (Figure 2).
Figure 2: Location of IP survey lines and surface rock chip sampling Perseverance Prospect, Monument Gold Project. (source: VRL).
Three IP lines consistently map a strong chargeability high beneath gold-bearing rock chips, confirming a repeatable drill-ready target (Figure 3).
Figure 3: IP Chargeability and results from Perseverance Prospect at Monument Gold Project and surface rock chip sampling >1g/t Au (source: VRL)
3D modelling confirms a continuous chargeability body across all IP lines, indicating a coherent subsurface target (Figure 4).
Figure 4: 3D oblique view of IP Chargeability results at Perseverance looking north. (source: VRL)
RC drilling scheduled for late November, with approvals and heritage clearance already in place.
Less than ~10% of the 20 km BIF trend has been systematically drilled—multiple structural and syenite-related targets remain untested.
Leadership Commentary
Verity Director, Patrick Volpe, commented,
“The Perseverance IP survey has delivered a compelling, near-surface chargeability target that aligns with outcropping BIF and earlier rock chip results above 1 g/t gold. Importantly, this anomaly has never been drilled and sits on the same BIF corridor that hosts our 154koz KorongWaihi resource.
With the RC rig already operating on site and approvals in place, we will move quickly to drill test Perseverance in late November. Success here could open up additional targets along the 20km BIF trend and provide a low-cost pathway to potentially growing our resource base at Monument.”
About the Project
The Perseverance Prospect lies within the broader Monument Gold Project, a 195 km² landholding in the Laverton Gold District—one of Australia’s most prolific gold regions (Figure 5).
Key geological context from the PDF includes:
Monument’s BIF unit is interpreted to be the same stratigraphy hosting the 1.4 Moz Westralia deposit.
Korong (139 koz) and Waihi (15 koz) together form VRL’s 154 koz resource along this BIF corridor.
Approximately 60 untested targets remain across BIF horizons and syenite-intrusion settings.
Figure 5: Monument Gold Project location in the Laverton Gold District amongst major gold deposits. (source: VRL).
The Project remains early in its systematic discovery path, with substantial strike length still under-explored.
Near-term Milestones to Watch
RC drilling at Perseverance to begin late November.
Assessment of IP anomaly results to refine follow-up drilling.
Potential expansion of IP surveys to additional prospects, including Waihi, A4, A39, and A1.
Ongoing resource-focused drilling at Korong and Waihi.
Integration of geophysical, structural, and rock sampling datasets to rank the remaining 60+ targets.
How Samso Understands the Investment Memo for the Company
This update reinforces Verity’s technical strategy: use modern geophysics to accelerate discovery along a well-endowed yet under-tested BIF corridor. The identification of a new chargeability anomaly—backed by geological mapping, magnetics, and rock chip geochemistry—provides a clean and data-supported pathway to value-add drilling.
Monument remains an early-stage but scalable gold system. The catalysts are straightforward: hit gold-bearing sulphide zones at Perseverance and begin unlocking the broader 20 km belt potential.
Samso Concluding Comments
Verity is working with a corridor that already hosts a defined resource, yet has seen only limited systematic drilling. The new IP data effectively sharpens the exploration lens, converting a previously broad conceptual target into a drill-ready anomaly supported by geophysical modelling and surface geochemistry. This is the type of incremental, evidence-based technical work that often precedes meaningful discoveries.
The Monument belt is structurally complex, and BIF-hosted systems are known for delivering significant resource growth once subsurface sulphide zones are intersected. In this context, a modelled 20 mV/V chargeability anomaly coincident with low resistivity and a break in magnetic stratigraphy is a legitimate vector for sulphide-rich mineralisation. If drilling validates this, Perseverance could quickly become a second pillar alongside Korong–Waihi.
Having the RC rig on site and approvals already in place reduces operational delays and allows Verity to convert geophysical results into drilling outcomes rapidly. This efficiency adds weight to the investment case in a market where execution is often as important as geology.
This company update reflects the early phase of a methodical discovery strategy. The Monument Gold Project has the hallmarks of an emerging multi-target system, and each technical milestone—such as this IP result—helps to de-risk the geological model. Investors seeking structured, data-driven exploration programs may find the unfolding story worth following, particularly as drilling begins to test these untried anomalies.
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