22 December 2025 – Sydney, Australia | Adavale Resources Limited (ASX:ADD) has today announced the completion of its high-conviction Phase 2 reverse circulation (RC) drilling program at its London-Victoria Gold Mine in the Lachlan Fold Belt of New South Wales, marking a significant step towards potential resource growth and near-term production pathways.
The Phase 2 program comprised 2,411 metres of drilling across 12 holes at the brownfields London-Victoria Mine which has seen an earlier drilling campaign earlier in the year. The drilling was designed to validate structural controls on mineralisation and to expand the existing resource base, following encouraging results from the earlier drilling, including hole ALRC014, which intersected 48 metres at 0.82g/t gold from 133 metres, including 25 metres at 1.2g/t gold from 144 metres.
Adavale Resources Managing Director, Mr. David Ward, commented: “The Phase 2 drilling program was designed to validate the high-quality technical work completed previously, with the objective of improving our understanding of the structural controls on mineralisation as well as adding to the existing MRE. I am satisfied with the operational progress achieved on the ground. The drilling was following up strong results from ALRC014, which intersected 48m of gold mineralisation 100m below the pit floor. Multiple compelling targets remain untested across a 1.5km strike length, providing significant scope for follow-up drilling campaigns and further Resource growth. In parallel with work completed at London-Victoria, we have also advanced our Corner and Parkvale South greenfields prospects, consistent with our strategy of maintaining a robust pipeline of gold and copper opportunities.”
Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “We are very pleased to have the depth of experience that David brought to this drilling campaign, which is expected to underpin further gold Resource growth at London-Victoria. As a brownfields asset, and with gold at record highs, we see real potential for a development scenario at the Project. Increasing the scale of the Resource will support the scoping study and metallurgical assessments we have planned for 2026, which will assess pathways to unlock near-term production. We have made a tremendous amount of progress in 2025 and I look forward to an even more successful 2026, beginning with receiving the latest assay results early in the New Year.”
Samples from the program were dispatched to the laboratory in two batches, with assays from the first 10 holes already received by the laboratory last week. Results are expected early in 2026, after which further drilling programs will be planned.
Drill targeting was underpinned by recent structural geological modelling, which has highlighted substantial upside potential at London-Victoria. The modelling suggests mineralisation may have fold repeats, remains open at depth and plunges to the south, providing multiple untested targets along a strike length of approximately 1.5 kilometres.
The drilling program was managed by Managing Director David Ward, who has extensive experience in value creation across the Lachlan Fold Belt.
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]
