Adavale’s Parkes Project Advances Amid Pending Assays and Leadership Boost

Exploration Momentum Builds at Parkes

Adavale Resources Limited (ASX:ADD) has advanced its exploration efforts at the Parkes Project with a recent field campaign led by consultant geologist Barry Willott. The team conducted reconnaissance at new prospects including Parkvale South and the Welcome Areas on the No Mistake licence, as well as follow-up work at Blackridge North on Front Gate. This activity included the collection of 25 rock chip samples and targeted geological mapping, marking a significant step in the company’s multi-phase strategy to delineate high-grade gold and copper mineralisation.

The Parkes Project, acquired by Adavale in January 2025, is situated within the Macquarie Arc of the Lachlan Fold Belt, a Tier-1 mining jurisdiction renowned for hosting world-class deposits such as Cadia Ridgeway and Northparkes. This strategic location underpins the project’s potential and aligns with Adavale’s focus on resource definition and growth.

Progress Towards Maiden Drilling

Adavale remains on track to commence its maiden drilling program in the second quarter of 2025. This drilling phase will be informed by ongoing geochemical surveys, including assays pending from 279 soil samples and 44 rock chip samples collected across various prospects. The company’s methodical approach aims to refine target generation and maximise the potential for discovering economically viable mineralisation.

Executive Chairman and CEO Allan Ritchie highlighted the company’s busy start to the year, noting encouraging early results from the Ashes and Myalls Prospects and the recent expansion of fieldwork to additional targets. The appointment of David Ward to the board further bolsters Adavale’s technical expertise, particularly in navigating the complexities of the Lachlan Fold Belt geology.

Strategic Outlook and Next Steps

Beyond drilling, Adavale is progressing the JORC Mineral Resource Estimate conversion for the historic London-Victoria Gold Mine, an important milestone that could unlock further value. The company also plans additional reconnaissance visits to new exploration licences such as The Dish (EL9711) and northern areas of Front Gate, signalling a sustained commitment to expanding its footprint in the region.

With a portfolio that extends beyond Parkes, including uranium prospects in South Australia and nickel sulphide projects in Tanzania, Adavale is positioning itself as a diversified explorer with multiple avenues for growth. However, the immediate focus remains firmly on delivering tangible results from the Parkes Project’s promising targets.