Adavale Secures 72.5% Stake in Parkes Gold-Copper Project, Eyes JORC Upgrade

Strategic Acquisition in a Premier Mining District

Adavale Resources Limited (ASX:ADD) has taken a significant step forward by completing the acquisition of a 72.5% interest in the Parkes Gold-Copper Project, a sprawling 354.15km² tenement package located in the Lachlan Fold Belt of New South Wales. This region is renowned for hosting some of Australia's most prolific gold and copper deposits, including the nearby Northparkes and Cadia-Ridgeway mines.

The Parkes Project sits at the geological crossroads of the Lachlan Transverse Zone and the Macquarie Arc volcanics, a combination that has historically yielded world-class mineralisation. Adavale’s entry into this terrain aligns the company with a highly prospective structural corridor known for orogenic gold and porphyry copper-gold systems.

London-Victoria: A Key Asset with Untapped Potential

Central to the project is the former London-Victoria gold mine, which boasts a historical estimate of approximately 124,000 ounces of gold contained within 3.7 million tonnes at 1.04 g/t Au. While this estimate is not yet JORC-compliant, Adavale plans to leverage existing drill data and conduct targeted drilling to upgrade this resource to meet modern reporting standards. This move could unlock significant value, especially amid the current favourable gold price environment.

The company has already renewed Exploration Licence EL7242, securing tenure until November 2030, ensuring a stable platform for ongoing exploration and development activities.

Early Fieldwork and Community Engagement

Immediately following the acquisition, Adavale’s executive team, alongside experienced Lachlan Fold Belt geologists and the vendor, undertook a reconnaissance visit. This included inspection of recent drill core from hole AEIDD001, initial rock chip sampling, and engagement with local landholders and consultants. These efforts are critical for building local relationships and refining exploration targets across the project’s multiple licences.

Assay results from the recent drilling are anticipated in the current quarter, which will provide fresh insights into the mineralisation potential at London-Victoria and inform the next phase of exploration.

Financial Backing and Shareholder Confidence

Supporting the acquisition, Adavale completed a placement to professional and sophisticated investors, with directors and officers personally co-investing approximately $100,000, representing over 6% of the placement. This insider participation signals strong confidence in the project’s prospects and the company’s strategic direction.

Funds raised will enable Adavale to advance exploration programs across several target prospects within the Parkes Project, including the Front Gate and No Mistake licences, where further drilling campaigns are planned.

Looking Ahead: Exploration and Resource Definition

Adavale’s immediate priorities include upgrading the London-Victoria historical resource to a JORC-compliant Mineral Resource, assessing and prioritising targets across the project area, and integrating assay results from recent drilling. The company’s exploration schedule outlines progressive rock chip sampling, target generation, and drilling activities through 2025, positioning it to unlock the full potential of this strategically located asset.

With the Parkes Project adjacent to globally significant mines and situated within a proven mineralised corridor, Adavale’s acquisition and exploration efforts could mark the beginning of a transformative chapter for the company.