Verity Resources Limited has announced the imminent commencement of a resource upgrade and expansion drill campaign at its 100%-owned Monument Gold Project, located in Western Australia’s prolific Laverton Goldfields. The project, which covers nearly 195 square kilometers, contains a JORC-compliant inferred resource of approximately 154,000 ounces of gold hosted across two deposits: the 3.034-million tonne Korong deposit (approximately 139,000 ounces) and the 223,000-tonne Waihi deposit (around 15,000 ounces). The initial phase of the Reverse Circulation drilling program will see 54 drill holes covering about 3,600 metres focusing on the Korong deposit. The aim is to upgrade the resource confidence level from inferred to indicated, a move that is considered an important precursor for future scoping studies and progressing towards a mining licence application. Historical drilling at Korong has yielded high grade intercepts, including 7 metres at 13.15 g/t gold, 6 metres at 7.24 g/t gold, and several other notable intercepts that underline the deposit’s potential. In addition to infill and step-out drilling to expand the mineralisation footprint, the campaign will also secure critical samples required for initial metallurgical testing of the banded iron formation hosted gold. The Monument Gold Project is strategically located adjacent to a large-scale operation managed by another major gold company, and lies along a relatively untested 20-kilometre strike length that hosts over 60 additional drill targets. These targets, along with upcoming diamond and further RC drilling, could potentially add significant resource ounces. Company Director Patrick Volpe highlighted that this systematic drilling approach is a key milestone in not only upgrading the current resource but also carving a path towards comprehensive economic evaluation and eventual mine development. Investor sentiment may be divided in light of the news. On the bullish side, the initiation of a focused drilling program, coupled with historical high-grade intercepts and a clear expansion strategy, is a positive indicator for value creation. There is a tangible potential for significant resource growth, which could pave the way for further development and improved project economics. Conversely, the bearish perspective is centered around the inherent risks of drilling programs, such as potential weather delays and the possibility that new results may not meet expectations, which might temper near-term market enthusiasm. Overall, the announcement sets the stage for an important phase in the project’s development, with significant opportunities as well as typical exploration challenges ahead.