17 November 2025 – Perth, Australia | Adavale Resources Limited (ASX:ADD) has today announced that newly uncovered historic BHP Gold grade-control data, combined with the Company’s first modern structural study of the London-Victoria gold deposit, has revealed significant potential for resource growth at the Parkes Gold-Copper Project in the Lachlan Fold Belt region of New South Wales.
The Company has recovered and scanned thousands of historic hand-drawn grade-control maps dating from the late 1980s to early 1990s. These maps, which record detailed gold grades from within the previously mined London-Victoria open pit, include peak values up to 37.4 g/t gold. When integrated with new structural mapping undertaken by independent structural geologist (Ian E. Neilson MSc RP Geo), the mineral system is understood to be significantly larger and more complex than previously modelled.
This study identifies a major east-dipping shear corridor as the primary structural control on mineralisation, hosting intense veining and alteration consistent with shear-related gold emplacement. The mineralised system is interpreted to extend over a strike of approximately 1.5 kilometres and to plunge southward, with strong evidence pointing to repeated or thickened sequences at depth. Together, the datasets identify multiple high-priority drill targets.
These insights substantially enhance the potential beyond the existing London-Victoria Mineral Resource of 3.14 Mt at 1.06 g/t gold for 107,000 ounces. Adavale remains on schedule to commence a targeted drilling program in the coming weeks, designed to directly test the newly defined high-priority zones.
Adavale Resources Managing Director, Mr. David Ward, commented: “Adavale has completed the first modern structural study at London-Victoria since BHP Gold mined there 30 years ago. Together with the recently acquired high-density grade control data, this body of work represents a step-change in our understanding of the controls on gold mineralisation. It has identified clear vectors for resource expansion and highlights the strong potential for additional mineralised shoots both at depth and along strike. These insights will directly guide our upcoming drilling program as we look to unlock the full potential of this exciting brownfields asset.”
Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “The results of this work have fundamentally reshaped the scale and strategic potential of London-Victoria. We now have a clear roadmap for how this asset can grow and an incredible technical team capable of executing on it, with drilling to occur imminently. The opportunity ahead of us is now much larger than previously recognised. We are confident that David’s extensive experience and track record of success across the Lachlan Fold Belt will translate this new technical understanding into meaningful value creation. This recent work marks the beginning of a new phase for Adavale as we position ourselves for a potential major new discovery.”
Digitisation of the historic grade-control archive is well-advanced. Once fully incorporated into updated geological and resource models, these maps are expected to materially refine drill targeting and contribute to future Mineral Resource estimates.
Next steps for London-Victoria include targeted drilling, pXRF-supported geochemical logging, ongoing structural modelling, and planned airborne or ground magnetic surveys. Broader exploration activities across the Parkes Project are progressing in parallel, including future geochemical programs, reconnaissance fieldwork, and additional magnetic surveys.
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’ 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]
