Highlights
• Verity Resources shares closed flat at AUD 0.020 on 1 April 2026 despite an positive exploration update.
• Soil sampling campaign launched across multiple targets at Monument Gold Project
• Program covers newly granted Gum Well area and existing prospects with known gold indications
• Results expected to support future drilling programs and expand exploration pipeline
• Monument project spans ~405km² with significant untested exploration potential

Verity Resources Ltd (ASX:VRL) shares closed unchanged at AUD 0.020 on 1 April 2026, despite the company announcing the start of a new exploration program at its Monument Gold Project in Western Australia. The stock remains down 33.33% over the past month, even as the company continues to advance its exploration activities.

New Sampling Campaign Targets Multiple Gold Prospects

Verity Resources announced the commencement of a soil sampling campaign across several identified exploration targets within its fully owned Monument Gold Project.

The program is designed as an early-stage step to test multiple areas for potential gold mineralisation. It includes both newly identified zones and areas where previous work has already indicated the presence of gold.

The campaign will involve around 550 samples and aims to build a clearer understanding of where gold may be concentrated across the project area.

Focus on Newly Expanded Gum Well Area

A key part of the program is the Gum Well tenement, which was granted in January 2026. This area significantly increased the total size of the Monument project to approximately 405 square kilometres.

Importantly, Gum Well has not been previously tested through soil sampling, making it a fresh exploration opportunity. Initial geological assessments suggest that the area contains rock types that are commonly associated with gold deposits.

By conducting first-pass sampling here, the company aims to identify new targets that could be explored further through drilling.

Follow-Up Work at Known Gold Zones

In addition to Gum Well, the campaign will also focus on three existing prospects — Star Well, McKenzie Well, and McKenzie Granite — where earlier exploration has already identified signs of gold.

At Star Well, previous sampling identified zones with elevated gold levels, including rock samples with relatively high gold grades. The current program will extend and refine this data to better define potential drilling targets.

At McKenzie Well, earlier work revealed consistent gold anomalies in soil samples, suggesting the presence of a broader gold system. The new sampling aims to improve understanding of these zones and identify areas for future drilling.

Similarly, at McKenzie Granite, the focus will be on areas that have not been fully tested but are considered prospective based on earlier findings and nearby deposits.

Clear Pathway Towards Drilling

The main goal of the current sampling campaign is to generate high-quality targets for the next stage of exploration, which may include aircore drilling.

By identifying and prioritising the most promising zones, the company aims to move from early-stage exploration to more advanced testing. This approach is part of Verity’s broader strategy of progressing multiple targets while also working to improve its existing resource base.

The results from this program are expected to guide where drilling efforts will be concentrated in future phases.

Monument Project Offers Large Exploration Potential

The Monument Gold Project is located in the Laverton Gold District, a well-known gold-producing region in Western Australia. The project currently hosts a mineral resource of 154,000 ounces of gold across the Korong and Waihi deposits.

A key point highlighted by the company is that only a small portion of the project’s total prospective area has been systematically explored so far. For example, only about 10% of a major geological trend within the project has been drilled.

This leaves a large area still open for exploration, with multiple additional targets already identified for future work.

Ongoing Resource Development

Alongside exploration activities, Verity is also working on updating its Mineral Resource Estimate. An updated estimate is expected in April 2026, with the aim of increasing confidence in parts of the existing resource.

This work is intended to support the longer-term development of the project while exploration continues to identify new opportunities.

What This Means for Investors?

The flat share price performance suggests that the market is taking a cautious view in the short term, despite ongoing exploration progress. The launch of the soil sampling campaign represents an early but important step in identifying new gold targets and advancing the broader project.

While the update does not yet include drilling results or resource upgrades, it outlines a clear exploration pathway and highlights the scale of the opportunity within the Monument project. Investors are likely to watch upcoming sampling results and any follow-up drilling programs for further developments.