Monument Gold Project Gains Momentum After Resource Upgrade

Highlights

• Monument resource update strengthens project scale

• Open-pit and underground scope adds development depth

• Fresh drilling improves geological confidence

Verity Resources has expanded the Monument Gold Project resource base in Western Australia, supported by updated drilling, geological remodelling, and advancing development studies focused on long-term mining pathways.

Gold exploration activity across Western Australia continues to attract market attention as resource companies focus on extending mine life, improving confidence levels, and refining future development pathways. Against this backdrop, Verity Resources (ASX:VRL) has announced a major update to the Monument Gold Project, reinforcing its position within the broader Australian gold exploration landscape.

The latest resource revision marks an important stage for the company as it advances technical studies and evaluates future mining opportunities within one of the country’s established gold-producing regions. The updated estimate reflects stronger geological understanding, expanded mineralisation zones, and increasing confidence in the project’s long-term development framework.

The announcement also arrives at a time when investors continue monitoring activity across the ASX 300, particularly among emerging gold and resource-focused companies operating in Western Australia.

Updated Resource Strengthens Monument Gold Project

The revised mineral resource estimate has highlighted broader mineralisation across the Monument project area. The updated resource includes both open-pit and underground components, creating a more comprehensive development outlook for the project.

A key aspect of the latest update is the inclusion of a maiden open-pit indicated resource category. This addition reflects increased geological confidence and provides a stronger foundation for future mine planning activities.

At the same time, the introduction of an underground resource component below the existing pit shells has added further scale to the project. The underground extension supports the possibility of longer operational pathways and introduces additional flexibility for future mining strategies.

The revised estimate demonstrates how continued drilling and geological interpretation can reshape the outlook for a gold project, particularly in regions with established infrastructure and processing networks.

Western Australia Remains a Major Gold Exploration Hub

Western Australia continues to play a central role in Australia’s gold industry, with companies actively pursuing exploration and development opportunities across the state. The Laverton region, where Monument is located, remains one of the most closely watched gold corridors due to its historical production profile and extensive mineralisation systems.

The region benefits from established transport access, operational mining activity, and nearby processing infrastructure. These factors often support faster development assessments for exploration companies seeking to transition projects toward production studies.

The Monument project’s location within a prospective gold belt has also strengthened interest in its broader exploration potential. Ongoing work across the wider corridor may continue identifying additional mineralised zones beyond the current resource footprint.

Drilling Campaign Supports Higher Geological Confidence

The updated estimate was supported by an extensive drilling campaign combining reverse circulation and diamond drilling programs. The drilling activity focused on areas within the previous resource envelope while also assisting geological reinterpretation of the mineralised structures.

Through the drilling process, the company refined the understanding of gold-bearing lodes and improved confidence in mineral continuity across several zones.

An important component of the program involved revalidation of older drill data. Historical exploration information was reassessed and cross-checked using twin drilling methods to confirm previous sampling and assay outcomes.

This process can play a critical role in modern resource estimation, particularly when integrating historical exploration databases into updated geological models.

Diamond drilling also contributed additional technical information regarding rock structures, mineralisation styles, and geotechnical conditions. The collection of core samples may assist future engineering assessments and mine planning studies.

Open-Pit and Underground Pathways Create Flexibility

One of the most significant developments from the updated estimate is the establishment of a dual development pathway involving both open-pit and underground mining concepts.

The open-pit component provides an initial framework for potential near-term mining activity, supported by increased resource confidence. Open-pit mining often offers earlier development accessibility and operational simplicity during initial project stages.

Meanwhile, the underground extension introduces longer-term strategic flexibility. The depth continuation below the pit shells suggests that mineralisation remains open beyond currently defined zones.

This combination may support staged mine planning scenarios, where surface mining operations could eventually transition into underground extraction methods over time.

Such flexibility is often viewed positively in the resource sector because it can support broader operational planning and resource optimisation.

Geological Remodelling Improves Resource Understanding

The latest update also reflects detailed geological remodelling across the project area. Geological reinterpretation is a critical step in refining mineral resource estimates because it helps define ore boundaries, structural continuity, and mineral distribution patterns more accurately.

By reassessing the mineralised lodes using updated drilling information, the company has improved the understanding of the project’s overall geology.

Improved modelling may assist future planning across several areas, including:

Mine design optimisation

More accurate geological interpretation can support improved pit designs and underground development planning.

Resource confidence classification

Better geological understanding often strengthens the confidence categories assigned to mineral resources.

Future exploration targeting

Detailed modelling can highlight new exploration opportunities along strike and at depth.

Technical study progression

Updated geological frameworks provide stronger inputs for scoping and engineering assessments.

These developments collectively strengthen the broader development narrative surrounding the Monument project.

Focus Shifts Toward Development Studies

Following the updated estimate, the company is progressing technical studies aimed at evaluating future development options for Monument.

Scoping-level studies are now underway as part of the next phase of project advancement. These studies typically examine operational concepts, mining methods, infrastructure needs, and processing pathways.

The company is also assessing third-party processing opportunities within the Laverton region. Access to nearby processing infrastructure can become an important strategic advantage for emerging gold projects because it may reduce the need for standalone processing construction during early development stages.

In addition to technical studies, further drilling programs are being planned to evaluate opportunities for additional resource growth.

Exploration activities are expected to focus on:

• Along-strike mineralisation extensions

• Depth continuation targets

• Additional geological structures within the corridor

• Resource conversion opportunities

These exploration efforts may continue expanding the overall scale of the Monument project over time.

Exploration Activity Remains Strong Across Australian Gold Sector

The Australian gold exploration sector has remained active despite broader market volatility. Resource companies continue prioritising projects with established geological systems, scalable exploration opportunities, and access to mining infrastructure.

Projects located in Western Australia often receive particular attention due to the region’s strong mining history and supportive operational environment.

Gold-focused companies operating across the ASX 200 and broader exploration segment continue investing heavily in drilling campaigns, resource upgrades, and development studies as they pursue long-term project advancement.

Investors also continue monitoring exploration companies alongside established producers and ASX dividend stocks, reflecting broader interest across multiple segments of the Australian equity market.

Monument Corridor Offers Broader Exploration Scope

Beyond the current resource estimate, the Monument project remains part of a larger prospective corridor that continues attracting exploration focus.

Large gold systems often develop through multiple mineralised structures extending over significant strike lengths. As exploration progresses, companies frequently target extensions beyond currently defined deposits in an effort to expand overall project scale.

The broader Monument corridor may provide opportunities for additional discoveries through ongoing drilling and geological assessment.

Exploration programs aimed at identifying new mineralisation zones could contribute to future resource growth while enhancing the project’s long-term strategic importance.

Resource Growth Continues to Shape Market Interest

Resource estimate upgrades often represent important milestones for exploration companies because they provide clearer visibility into project scale and development pathways.

The latest update at Monument reflects a combination of exploration success, improved geological understanding, and advancing technical studies.

The addition of both open-pit and underground components has strengthened the overall project framework while also introducing greater operational flexibility for future planning.

With technical studies progressing and additional exploration activities planned, Monument continues moving through the next stage of its development journey within Western Australia’s active gold sector.