Adavale Commences Geochemical Survey at Ashes & Myalls Prospects

3 March 2025 – Sydney, Australia | Adavale Resources Limited (ASX: ADD) (“Adavale” or “the Company”) is pleased to announce that its field team has mobilised to site and commenced a grid-based geochemical survey over an area of approximately 5km² at the Ashes and Myalls Prospects in the Lachlan Fold Belt, NSW.

Highlights

• Up to 300 soil and rock chip samples to be collected for gold and multi-element assays to generate new drill targets.

• The survey will be following-up on high-grade gold & copper results, with recent rock chip assays at Ashes Prospect including:

  • 7.95 g/t Au, 2.2% Cu, 96.4 g/t Ag (Sample P24654)

  • 0.74 g/t Au, 0.76% Cu, 58.9 g/t Ag (Sample P24651)

  • 0.32 g/t Au, 17.8 g/t Ag (Sample P24652)

• The survey will be targeting Ordovician-aged intrusive rocks, investigating outcropping monzonite, a key host rock for major gold-copper systems in the region.

• Survey results will guide a robust drilling program planned for Q2 2025.

Executive Chairman & CEO, Allan Ritchie, commented: “Following Adavale’s recent announcement of outstanding high-grade gold, copper, and silver assay results at the Ashes Prospect – including one consisting of 7.95g/t Au, 2.2% Cu, and 96.4g/t Ag – we are excited to have arrived back at site with a field team of geologists highly-experienced in the Lachlan Fold Belt. 

The geological field team have mobilised, and a grid-based geochemical survey is now underway. This field work represents the next step toward a more accurate assessment of the prospectivity of the site. We will repeat this survey similarly on our many other prospects which is expected to lead to a more robust drilling program in the 2nd quarter this year.”

Advancing Exploration at Ashes & Myalls

This survey work represents Adavale’s third visit to the site since the completion of the Parkes Project acquisition in January of 2025. The program builds on historical high-grade results, including:

• 8.8 g/t Au & 19.2 g/t Ag

• 5.5% Cu & 13.3 g/t Ag

• 1.5 g/t Au, 84 g/t Ag & 2.1% Cu

• (Additionally, prior sampling at Myalls Prospect returned 0.86% Cu & 0.91 g/t Au)

Linking Ashes & Myalls Prospects

This systematic geochemical survey will improve targeting efficiency, allowing Adavale to assess the potential link between the Ashes and Myalls Prospects, which could indicate a larger mineralised system.

About Adavale Resources Limited

Adavale Resources Limited is engaged in the business of mineral exploration for Nickel in Tanzania and Uranium in South Australia. The Company holds the Kabanga Jirani Nickel Project, a portfolio of 12 highly prospective granted licenses along the Karagwe-Ankolean belt in Tanzania. The nine southernmost licenses are proximal to the world-class Kabanga Nickel Deposit. It holds 100% of all licenses except two licenses known as the Luhuma-Farm-in are held 65% adding a further 99 square kilometers (km2) bringing the portfolio to 1,315 sq km. It also holds five granted exploration licences prospective for their sedimentary uranium potential within the northern part of the highly prospective Northern outwash from the Flinders Ranges in South Australia and four exploration licence applications east of Ceduna on the Eyre Peninsula. This will increase the Company’s uranium tenement holdings to 5,160 km2. The Company also has a 100% interest in EL6553 from Kilonova Metals. 

Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]