Adavale Resources has launched its first-ever drilling campaign at the London Victoria Gold Mine, aiming to expand its existing gold resource and explore high-grade vein potential near the historic Koh-I-Nor mine.
- Maiden 10-hole, 2,200m RC drilling program underway at London Victoria
- Targeting extensions to JORC Inferred Mineral Resource of 3.14Mt at 1.06g/t Au for 107koz
- Drilling aims to identify high-grade veins similar to nearby historic Koh-I-Nor mine
- Program expected to complete in two weeks with assays to follow
- Broader exploration activities ongoing across Parkes Project, including geochemical surveys
Drilling Begins at London Victoria
Adavale Resources Limited (ASX – ADD) has commenced a significant milestone in its exploration journey with the start of a maiden reverse circulation (RC) drilling program at the London Victoria Gold Mine, part of its Parkes Project in New South Wales. The program, conducted by specialist contractor DRILLIT, involves 10 holes totaling 2,200 metres and represents the company’s first gold-focused drilling campaign at this site since acquiring the project earlier this year.
The primary objective is to test shallow extensions of the known mineralisation, which currently holds a JORC Inferred Mineral Resource Estimate (MRE) of 3.14 million tonnes at 1.06 grams per tonne gold, equating to approximately 107,000 ounces. By expanding this resource, Adavale aims to enhance the project's economic potential and underpin future development plans.
Exploring High-Grade Potential
Beyond resource expansion, the drilling program also seeks to identify high-grade veins akin to those historically mined at the nearby Koh-I-Nor mine, located just 2.7 kilometres east of London Victoria. The Koh-I-Nor mine is renowned for exceptionally rich gold grades, reportedly reaching up to 43.8 grams per tonne. Discovering similar structures could significantly uplift the value proposition of the Parkes Project.
Samples collected during the drilling are scheduled for assay at the ALS laboratory in Orange, with results anticipated in the coming weeks. These assays will be critical in validating the presence and extent of mineralisation and guiding subsequent exploration efforts.
Broader Exploration Momentum
Adavale is not limiting its focus to London Victoria alone. The company is advancing multiple exploration initiatives across the Parkes Project, which spans over 370 square kilometres in the Lachlan Fold Belt; a Tier-1 mining jurisdiction known for hosting world-class deposits like Cadia Ridgeway and Northparkes.
Planned activities include further geochemical surveys, particularly at the Parkvale South target, and reconnaissance visits to other promising areas such as No Mistake and The Dish. These efforts underscore Adavale’s systematic approach to unlocking value across its portfolio.
Strategic Positioning in a Premier Mining District
The Parkes Project’s location within the Macquarie Arc of the Lachlan Fold Belt places Adavale in a highly prospective geological setting. The region’s proven track record for significant gold and copper discoveries provides a strong backdrop for the company’s exploration ambitions. With a recently defined resource and ongoing drilling, Adavale is positioning itself to capitalize on this world-class mining corridor.
Bottom Line?
As drilling progresses, all eyes will be on assay results that could redefine the scale and grade of London Victoria’s gold resource.
Questions in the middle?
- Will the drilling confirm extensions to the existing mineral resource and at what grade?
- Could high-grade veins similar to Koh-I-Nor materially enhance project economics?
- How will results from other Parkes Project targets influence Adavale’s exploration strategy?