4 August 2025 – Sydney, Australia | Adavale Resources Limited (ASX:ADD) is pleased to announce the successful completion of its maiden reverse circulation drilling program at the London Victoria Gold Mine, located within the Parkes Project in the Lachlan Fold Belt of New South Wales.
Highlights:
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Maiden RC drilling program is now completed at London-Victoria Mine with 14 holes for 2,060 metres.
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Drilling successfully intersected the target shear zone, according to visual inspection of drill chips.
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Of the 14 holes drilled, 9 were collared on the flanks of the pit, with the remaining 5 holes collared on the pit floor, targeting shallow extensions of the known gold mineralisation
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Downhole televiewer logging underway to define mineralisation controls.
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Assays have been submitted and results are expected to guide future exploration.
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The program is aimed at upgrading the existing 115koz JORC Inferred Mineral Resource Estimate.
The campaign marks the first standalone drilling at the London Victoria site in 28 years and comprised 14 RC holes totalling 2,060 metres. Nine of the holes were collared along the eastern flank and southern strike of the existing pit, with the remaining five drilled from within the pit floor to test shallow extensions of known gold mineralisation. Visual inspection of drill chips confirms intersection of the targeted shear zone.
Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “The completion of the maiden drilling campaign at London Victoria is a milestone, not just for the Project but for the Company alike. This marks the first standalone drilling campaign at the Project for 28 years and solidifies the transformation of Adavale to a gold explorer and potential developer. Successfully completing the program without incident, on time, within budget and having intersected the target shear zone is a testament to Adavale’s exploration team.
Adavale has now sent all samples for assay and is conducting down hole logging of select holes for structural interpretation. Assay results will be released to the market as soon as they are received, while these results and the structural review will be guiding further exploration activities at London Victoria.”
Samples have been progressively submitted to Onsite Laboratory Services, located in Bendigo, with assay results now pending. Groundsearch has also mobilised to the site to conduct optical televiewer logging of select holes, which will help to efine the structural controls of mineralisation and inform future drilling.
One of the primary aims for the initial drill program is to expand and potentially upgrade the current JORC 2012 Inferred Mineral Resource Estimate of 115,000oz Au, which includes a higher-grade portion of 3.14Mt at 1.06g/t Au for 107,000oz.
Adavale continues its broader exploration efforts across the Parkes Project, including planning additional geochemical surveys, progressing reconnaissance work at multiple prospects, and further resource assessment work stemming from recent drilling activit.
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.
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]