Adavale Resources has identified a compelling new drill target at its Ashes Prospect through reprocessed geophysical data, supported by high-grade rock chip assays. The company is poised to commence maiden drilling in Q2 2025, aiming to unlock significant gold-copper-silver mineralisation.
- Reprocessed 2008 IP survey reveals strong 50mV/V chargeability anomaly at Ashes
- Nearby rock chips assay up to 10.65 g/t Au, 1.98% Cu, and 158 g/t Ag
- Historical drilling missed the core of the anomaly, presenting a fresh target
- Maiden drilling planned for Q2 2025 to test central chargeability zone
- Potential to extend target zone northwards with further IP surveying
Reprocessing Reveals New High-Conviction Target
Adavale Resources Limited (ASX:ADD) has breathed new life into its Ashes Prospect within the Parkes Project by reprocessing historic Induced Polarisation (IP) geophysical data originally collected in 2008. The updated analysis, conducted by Mitre Geophysics, has delineated a robust chargeability anomaly peaking at 50mV/V, a signal strength that strongly suggests the presence of sulphide mineralisation potentially hosting gold, copper, and silver.
This anomaly stands out against a subdued background and, crucially, appears to have been inadequately tested by previous drilling campaigns in 2009 and 2015. Those earlier holes targeted weaker peripheral zones and failed to penetrate the anomaly’s high-chargeability core, leaving a significant exploration gap.
Supporting Evidence from High-Grade Rock Chips
Adding weight to the geophysical findings, rock chip samples collected near the anomaly have returned impressive assays, including up to 10.65 g/t gold, 1.98% copper, and 158 g/t silver. These grades underscore the prospectivity of the target and provide a tangible geochemical footprint that aligns with the IP anomaly.
Adavale’s Executive Chairman and CEO, Allan Ritchie, highlighted the significance of this development, noting that the reprocessed data has refined the drill target selection process and reinforced confidence ahead of the company’s maiden drilling program scheduled for the current quarter.
Strategic Exploration and Upcoming Drilling
The Ashes Prospect is part of Adavale’s broader Parkes Project, which benefits from its location within the Lachlan Fold Belt, a Tier-1 mining jurisdiction hosting world-class operations such as Cadia Ridgeway and Northparkes. The company holds a 72.5% interest in the project, which includes multiple highly prospective licences.
In addition to the Ashes Prospect, Adavale recently announced a maiden JORC 2012 Inferred Mineral Resource Estimate of 115,000 ounces of gold at the London-Victoria Gold Project, with a higher-grade component of 3.14 million tonnes at 1.06 g/t gold for 107,000 ounces. This milestone complements the promising geophysical and geochemical results at Ashes.
Looking ahead, Adavale plans to extend the IP survey northwards to potentially expand the chargeability anomaly along strike. Concurrently, ongoing geochemical sampling and reconnaissance across other targets within the Parkes Project aim to generate additional drill-ready prospects.
Implications for Investors and Market Positioning
The identification of a high-conviction drill target that has eluded previous explorers positions Adavale to potentially unlock significant value through its upcoming drilling campaign. Should the maiden drill holes intersect mineralisation consistent with the geophysical and geochemical indicators, it could materially enhance the company’s resource base and attract further investor interest.
However, as with all early-stage exploration, the results remain speculative until drilling confirms the extent and grade of mineralisation. The company’s methodical approach, combining modern geophysical techniques with targeted sampling, reflects a disciplined strategy to de-risk exploration outcomes.
Bottom Line?
Adavale’s imminent drilling at Ashes could redefine its resource potential, but the market awaits confirmation beneath the surface.
Questions in the middle?
- Will maiden drilling confirm the high-grade mineralisation suggested by the IP anomaly and rock chips?
- How extensive is the chargeability anomaly beyond current survey lines, and what does that mean for resource size?
- What impact will successful drilling at Ashes have on Adavale’s valuation and future exploration funding?