20 January 2026 – Sydney, Australia | Adavale Resources Limited (ASX:ADD) has reported its highest-grade gold intercepts to date from the London-Victoria Gold Mine in central-west New South Wales, with early results from its Phase 2 drilling program confirming the potential to expand the existing Mineral Resource both at depth and along strike.
Assay results have now been received from 5 of the 12 holes completed as part of the Phase 2 program, with highlights including:
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14m @ 2.62g/t Au from 133m (1.0g/t Au cut-off) (ALR018)
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23m @ 1.64g/t Au from 142m (0.5g/t Au cut-off) (ALR020) including
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4m @ 3.46g/t Au from 157m; and
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2m @ 5.17g/t Au from 145m (1.0g/t Au cut-off)
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Intercepts such as these represent the highest-grade drill results achieved by Adavale at London-Victoria to date and were intersected approximately 30 metres below the existing pit floor. Additional notable intercepts from the first batch of results include hole ALRC025:
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31m @ 0.71g/t Au from 151m (0.5g/t Au cut-off) (ALR025) including
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6m @ 1.39g/t Au from 157m (1.0g/t Au cut-off)
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Results also suggest the presence of a potential footwall lode. The current drilling has focused on validating the structural controls on gold mineralisation and testing extensions below the existing JORC 2012 Mineral Resource Estimate.
Adavale Resources Managing Director, Mr. David Ward, commented:
“These early Phase 2 drilling results from London Victoria are highly encouraging and continue to demonstrate the scale and continuity of gold mineralisation below the existing Resource. The intercepts reported, particularly the 14m @ 2.62g/t gold in ALRC018 and 23 metres at 1.64g/t gold in ALRC020, are the highest grade drillholes drilled by Adavale to date and confirms that our targeting strategy is working and that the system remains robust below the existing pit.”
Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented:
“With assays still pending for 7 additional holes, we see strong potential for these results to further support Resource expansion and strengthen the long-term development case for London Victoria. We look forward to reporting the remaining results as they become available.”
The London-Victoria mineral system remains open at depth, down plunge and along strike, with all completed Phase 2 drillholes considered capable of supporting a material increase to the existing Mineral Resource Estimate once fully incorporated. Assays from a further seven holes, totalling 1,476 metres of drilling, are pending and expected to be released as they become available.
Following the completion of Phase 2 drilling, Adavale is progressing additional geological and geochemical analysis to refine its structural and resource models, with a Phase 3 drilling program expected to commence in the near term. The Company is also assessing further geophysical survey work to assist in targeting additional zones of gold mineralisation.
The London-Victoria Gold Mine forms part of Adavale’s broader Parkes Gold-Copper Project, located within the highly prospective Lachlan Fold Belt of New South Wales, a region that hosts several world-class gold and copper operations.
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 Management
Investor & Media Relations
[email protected]
