30 June 2025 – Sydney, Australia | Adavale Resources Limited (ASX:ADD) is pleased to announce that it will commence its maiden drilling program at the London Victoria Mine within its Parkes Project in New South Wales, acquired in January earlier this year. The approved 10-hole, 2,200-metre reverse circulation (RC) campaign will focus on high-priority targets identified from recent mapping and geophysical surveys.
HIGHLIGHTS:
-
Maiden 10-hole, 2,200m RC drilling program approved and commencing at London Victoria Mine.
-
Program aims to extend the JORC Inferred Mineral Resource of 3.14Mt @ 1.06g/t Au for 107koz.
-
Targets include shallow mineralisation extensions and untested high-grade east-west vein structures.
-
Historic nearby Koh-I-Nor Mine reported grades up to 43.8g/t Au within similar structural settings.
-
Drilling contractor appointed with mobilisation underway and first drilling imminent.
The primary aim of the program is to extend known gold mineralisation associated with a north-south trending shear zone, currently hosting an Inferred Mineral Resource of 3.14Mt @ 1.06g/t Au for 107koz.
Additionally, Adavale will test for a series of high-grade east-west trending dilation vein structures, which are analogous to those that have been historically mined at the nearby Koh-I-Nor deposit, which reported grades of up to 43.8g/t Au.
Adavale Resources Executive Chairman and CEO, Mr Allan Ritchie, commented: “With our high priority targets now well-defined and the drilling program approved, Adavale is preparing for the commencement of its maiden drilling program this week. Adavale will be the first Company to undertake systematic resource extension drilling at the London Victoria Mine in more than 30 years at an opportune time with the gold price at a record high above A$5,000 per oz.”
The program includes partial oblique orientations to the main shear zone, in order to increase the likelihood of intersecting both known and previously untested structures. It is hoped that this will enhance the project’s potential to deliver high-grade results.
This drilling campaign is part of a broader strategy at the Parkes Project, with geochemical survey planning and follow-up reconnaissance currently underway at additional prospects including Parkvale South, The Dish, No Mistake, and Front Gate.
About us:
ABOUT ADAVALE RESOURCES (ASX:ADD)
Exploring for Gold and Copper in the NSW Lachlan Fold Belt, Uranium in South Australia, and Nickel Sulphide in Tanzania.
The Parkes Project (NSW)
Adavale Resources Limited (ASX:ADD) tenements span ~371km2 including 100% of EL9785 and a 72.5% interest in the Parkes Gold and Copper Project, consisting of four granted exploration licences that are highly prospective for Au-Cu, primarily due to their location adjacent the giant Northparkes copper-gold mine and encompassing the Ordovician-aged rocks of the Macquarie Arc, within the crustal-scale structure of the Lachlan Transverse Zone (LTZ) that contain both Northparkes and the world-class Cadia gold-copper Mine.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]
