Sydney, Australia – 22 April 2025 | Adavale Resources Limited (ASX: ADD) (“Adavale” or “the Company”) is pleased to announce that a recent field campaign has defined additional gold and copper targets at the Company’s Parkes Project, located in the Lachlan Fold Belt, NSW. The fieldwork forms part of Adavale’s ongoing multi-phase exploration strategy across its 354.15km² tenure.
HIGHLIGHTS
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Another site visit was completed from 11th to the 16th April 2025 across three new target areas:
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Parkvale South and the Welcome Area on No Mistake (EL8830)
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Blackridge North on Front Gate (EL8831)
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25 rock chip samples collected across the three areas, assay results now pending.
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Targets identified through initial reconnaissance and geological mapping led by geologist Barry Willott.
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Fieldwork supports Adavale’s strategy to define high-grade gold and copper mineralisation across the Parkes Project, which includes the historic London-Victoria Gold Mine.
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Adavale is on track to commence its maiden drilling program in Q2 CY2025.
Commenting on the progress, Executive Chairman and CEO, Mr Allan Ritchie, stated: “We have been extremely busy following the transformational acquisition of the Parkes Project in January. Early-stage fieldwork at the Ashes and Myalls Prospects has already delivered encouraging results, and we are progressing toward a maiden drilling program to take place this quarter. This month, we completed work at additional prospects at Parkvale South and the Welcome areas as well as at Blackridge North. We are very pleased with the recent appointment of Mr David Ward to the Board, strengthening the technical leadership focus on the Lachlan Fold Belt as we move toward resource definition at London-Victoria and advancing our Parkes Project.”
Next Steps at Parkes Project
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Assay results pending from:
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279 soil and 19 rock chip samples from the Ashes & Myalls geochemical program
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25 rock chip samples from the recent reconnaissance
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Planning future geochemical surveys to refine further targets
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Maiden drill program set to commence in Q2 2025, informed by assay results
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JORC review of the London-Victoria Historical Estimate in progress, with the objective of defining a maiden Mineral Resource Estimate
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Further prospect reconnaissance planned for tenements including The Dish (EL9711) and the northern Front Gate area (EL8831)
Allan Ritchie
Executive Chairman & CEO
Adavale Resources Limited
[email protected]
Jane Morgan
Media & Investor Relations
Jane Morgan Management
[email protected]
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]