Adelong Gold Secures $1.57M, Targets Gold Production in 12 Months at Adelong

Strategic Partnership Advances Adelong Gold Project

Adelong Gold Limited (ASX:ADG) has taken a significant step towards production at its flagship Adelong Gold Project in New South Wales by finalising a farm-in agreement with Great Divide Mining (GDM). Under this arrangement, GDM has acquired an initial 15% stake in Challenger Gold Mines (CGM) through a $300,000 investment focused on exploration and site maintenance. More importantly, GDM has assumed operational control of the Adelong Gold Plant and mine site, completing essential maintenance and recommissioning efforts during due diligence.

This partnership is designed to leverage GDM’s operational expertise to achieve first gold production within 12 months. Upon reaching this milestone, GDM’s stake is set to increase to 51%, while Adelong retains a 49% strategic interest. Notably, Adelong Gold is free carried until production commences, mitigating near-term capital risks.

Apollo Gold Project Acquisition Bolsters Victorian Footprint

In parallel, Adelong Gold has expanded its portfolio by acquiring a 100% interest in the Apollo Gold Project, located in Victoria’s prolific Melbourne Zone. This under-explored 102 km² licence area is distinguished by exceptional historical drill results, including intercepts such as 39.5 meters at 7.25 g/t Au and 27.6 meters at 6.7 g/t Au. The project also exhibits significant antimony-gold potential, particularly at the Heyfield Reef Prospect, where rock sampling returned up to 20.1 g/t Au and 3.9% Sb, and drilling confirmed mineralisation with 3 meters at 5.2 g/t Au and 3.4% Sb.

The Apollo acquisition aligns with Adelong’s strategy to target high-grade gold and critical mineral systems in established mining belts, with exploration permits now in place to test multiple fault zones and expand resource definitions.

Brazilian Critical Minerals Exploration Continues

Beyond Australia, Adelong Gold is advancing its critical minerals portfolio in Brazil, focusing on lithium and rare earth element anomalies within the Paraiba and Santa Rita do Aracuai projects. Planning for follow-up exploration programs aims to refine targets in these strategically important commodities, which are critical to the global transition to clean energy and advanced technologies.

Capital Raising and Corporate Updates

Supporting these operational initiatives, Adelong Gold successfully raised $1.573 million through two placements during the quarter. The funds are earmarked for exploration drilling at Adelong, advancing the GDM partnership, Brazilian lithium exploration, and general working capital. The company reported a cash position of $628,000 at quarter-end and holds listed securities valued at approximately $850,000, providing additional financial flexibility.

In corporate governance developments, Adrien Wing, a Certified Practising Accountant with extensive experience in audit and ASX-listed companies, was appointed Company Secretary effective 1 April 2025, succeeding Andrew Draffin. This appointment strengthens the company’s administrative and compliance capabilities as it scales operations.

Outlook

Adelong Gold’s dual focus on advancing the Adelong Gold Project towards production and expanding its exploration footprint in Victoria and Brazil positions it well for near-term growth. The operational control by GDM at Adelong is a pivotal catalyst, while the Apollo Gold Project’s high-grade and antimony-rich mineralisation offers promising upside. The company’s strengthened balance sheet and strategic partnerships underpin its ambition to transition from explorer to producer.