1 July 2025 – Sydney, Australia | Adavale Resources Limited (ASX:ADD), an Australian gold and copper explorer, has commenced its maiden reverse circulation (RC) drilling program at the London Victoria Gold Mine in New South Wales’ Lachlan Fold Belt. The program will target shallow extensions of known mineralisation with the aim of increasing the current JORC Inferred Mineral Resource Estimate of 3.14Mt at 1.06g/t Au for 107koz.
Highlights:
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10-hole, 2,200m RC drilling program has commenced at London Victoria Mine, targeting shallow extensions to known mineralisation.
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Objective to increase the current JORC Inferred Mineral Resource Estimate of 115koz Au, including 3.14Mt at 1.06g/t Au for 107koz.
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Secondary objective includes testing for high-grade dilation veins similar to the nearby Koh-I-Nor Mine, historically mined at up to 43.8g/t Au.
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Program is expected to take approximately two weeks, with samples to be sent for assay to ALS Laboratory (located in Orange).
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Drilling contractor DRILLIT has been mobilised to Parkes to carry out the program.
The drilling program is the Company’s first main gold-focused exploration activity since acquiring the Parkes Project in January 2025. The 10-hole drilling campaign will test three mineralised boudins and evaluate potential for dilation veins similar to those at the high-grade Koh-I-Nor Mine, located 2.7km to the east.
Adavale Executive Chairman and CEO, Mr Allan Ritchie, commented: “The maiden drilling program at London Victoria is a significant milestone, marking the first gold focused drilling program to be conducted by Adavale at its Parkes Project which was only acquired in January 2025. The Adavale team have all been working swiftly and systematically, with our landholders, consultants and contractors to reach this point and anticipate exciting results from this campaign.”
Next Steps at Parkes
Adavale continues to advance multiple exploration activities at the broader Parkes Project, including:
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Definition of an Exploration Target from the recent JORC Inferred Resource.
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Further geochemical survey planning, with Parkvale South as a potential high-priority area.
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Reconnaissance of additional prospects, including The Dish and areas on EL8830 and EL8831.
The Parkes Project is located in a Tier-1 mining jurisdiction within the Macquarie Arc, adjacent to major copper-gold mines such as Cadia Ridgeway and Northparkes.
About us:
ABOUT ADAVALE RESOURCES LIMITED (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
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]