SYDNEY, Australia – 19 June 2025 – ASX-listed Adavale Resources Limited (ASX:ADD), a junior Australian exploration company, is pleased to announce the successful granting of Exploration Licence EL9785—a 17.24 km² tenement located adjacent to its flagship Parkes Project in New South Wales' renowned Lachlan Fold Belt, a region known for prolific gold and copper production.
The newly granted EL9785 licence is particularly significant as it hosts several historic mining operations, including the high-grade Koh-I-Noor underground gold mine, which historically yielded up to 43.8 g/t Au and was mined to a depth of just 304 metres. Tailings from Koh-I-Noor were reprocessed to recover 545 ounces of gold at an average grade of 2.5 g/t Au, indicating further potential in both remnant ore and previously overlooked zones.
This acquisition strengthens Adavale’s strategic footprint in the Lachlan Fold Belt, bringing its total tenure to over 371 km². The region includes large sections of the Ordovician-aged Macquarie Arc Volcanics, which host world-class operations like Cadia Ridgeway (35.1Moz Au & 7.9Mt Cu) and Northparkes (5.2Moz Au & 4.4Mt Cu).
Executive Chairman and CEO of Adavale, Mr. Allan Ritchie, commented:
“The successful granting of EL9785 further demonstrates Adavale’s commitment to gold and copper exploration in the Lachlan Fold Belt of NSW. The historical high-grade production from Koh-I-Noor highlights the potential of the new tenement, with the team confident that both desktop and field work will lead to further exploration success and potential further mining activity.”
With land access already secured, Adavale plans to initiate geological mapping and geophysical targeting at Koh-I-Noor to assess the potential for extending known mineralisation, both along strike and at depth beyond the historical 304m level.
This addition marks another milestone in Adavale’s growth strategy as it builds a portfolio of high-potential assets across gold, copper, uranium, and nickel in Australia and Tanzania.
About us:
About Adavale Resources
Exploring for Gold and Copper in the NSW Lachlan Fold Belt, Uranium in South Australia, and Nickel Sulphide in Tanzania.
For further details, visit www.adavaleresources.com.
Contact details:
Jane Morgan
Jane Morgan Management
[email protected]