9 February 2026 Perth, Australia | Adavale Resources Limited (ASX:ADD) (Adavale or the Company), a junior explorer focused on gold and copper in the Lachlan Fold Belt of New South Wales, is pleased to announce results from the final seven holes (1,476m) of its Phase 2 drilling program at the London-Victoria Gold Mine (“London-Victoria”).
The assays reinforce the strong resource growth potential of the London-Victoria system, confirming continuity of mineralisation beneath the existing open pit and highlighting that the mineralised system remains open at depth, down plunge and along strike.
With Phase 2 drilling validating Adavale’s structural geology model and confirming the scale of the system, the Company has now commenced an expanded Phase 3 drilling program of an initial 6,000 metres to accelerate resource expansion.
Highlights from the final seven holes include:
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28m @ 1.53g/t Au from 137m (0.5g/t Au cut-off) (ALRC019) including:
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11m @ 2.62g/t Au from 141m (2.0g/t Au cut-off)
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21m @ 1.40g/t Au from 162m (0.5g/t Au cut-off) (ALRC021) including:
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5m @ 2.33g/t Au from 163m; and
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6m @ 2.17g/t Au from 172m (1.0g/t Au cut-off)
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15m @ 1.29g/t Au from 174m (0.5g/t Au cut-off) (ALRC026) including:
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5m @ 1.47g/t Au from 175m; and
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1m @ 6.53g/t Au from 185m (1.0g/t Au cut-off)
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20m @ 1.26g/t Au from 102m (0.5g/t Au cut-off) (ALRC023) including:
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14m @ 1.62g/t Au from 108m (1.0g/t Au cut-off)
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The program also successfully validated the Company’s mineralisation model and controls, following up the previously reported result from ALRC014 of 48m @ 0.82g/t Au from 133m, including 25m @ 1.2g/t Au from 144m.
Adavale Resources Managing Director, Mr. David Ward, commented: “Phase 2 drilling delivered strong continuity of gold mineralisation beneath the pit and, critically, validated the Company’s structural geology model. The program tested just ~150m of strike with holes spaced at approximately 25m — representing only 10% of the 1.5km open pit length. These results provide strong confidence to expand the Phase 3 drilling program, targeting the substantial known strike of mineralisation immediately below the existing pit floor.”
Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “Phase 2 drilling has demonstrated the scale of London-Victoria, giving us the confidence to accelerate resource growth with an expanded Phase 3 program now underway. Combined with the overwhelming support from our investors in the recent $5.15 million placement, the Company is exceptionally well positioned to grow the resource base and further advance our Brownfields near-term production opportunity at our London-Victoria Gold Mine.”
The Company noted that several of the latest drill results are located outside the existing MRE, including holes ALRC019, ALRC021, ALRC023 and ALRC026. The Company believes these results will support a substantial increase in an updated MRE as drilling continues to extend mineralisation beneath the pit.
In addition to drilling, Adavale plans to undertake pXRF-based geochemical logging to refine lithological and geochemical discrimination, while incorporating new structural data to continually refine the geological and resource model.
A drone magnetic survey is also planned for March 2026 to further investigate the emerging magnetics versus gold association, with the goal of extrapolating the mineralisation signature into adjacent exploration areas.
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]