Adavale Uncovers Deep Gold Extensions, Secures $3.1M, and Appoints New MD

Transformative Maiden Drilling at London Victoria

Adavale Resources has completed its first drilling campaign at the London Victoria Gold Mine in 28 years, delivering promising results that extend gold mineralisation well beyond the existing resource boundaries. The 14-hole reverse circulation (RC) program, totaling 2,060 meters, confirmed multiple significant intercepts, including a standout 48 meters at 0.82 grams per tonne gold starting 133 meters below surface. This intercept notably extends mineralisation approximately 100 meters beneath the pit floor, outside the current JORC Mineral Resource Estimate of 3.14 million tonnes at 1.06 g/t Au for 107,000 ounces.

Other highlights include a high-grade shallow intercept of 3 meters at 6.64 g/t Au and several additional encouraging results across the pit area. These findings suggest a robust and potentially larger gold system than previously understood, with structural geology modelling underway to refine future drill targeting.

Strategic Funding and Leadership Enhancements

Backing this exploration momentum, Adavale secured approximately $3.1 million in funding during the quarter. This includes a cornerstone investment by Gleneden, acquiring a 20% stake, alongside participation from company directors and a new strategic investor group. The capital injection positions Adavale well to advance its second-phase drilling program planned for late 2025, targeting both the London Victoria Mine and promising greenfield prospects within the Parkes Gold and Copper Project.

Complementing this financial boost, the company announced the appointment of David Ward as Managing Director, effective November 17, 2025. Ward brings three decades of industry experience, particularly within the Lachlan Fold Belt, and is expected to drive the accelerated exploration and development of Adavale’s flagship assets.

Broader Exploration and Regulatory Milestones

Beyond London Victoria, Adavale has advanced geophysical surveys at the Ashes and Myalls prospects, refining drill targets through ground magnetics and induced polarisation techniques. Rock chip sampling across multiple Parkes prospects continues to highlight the region’s gold and copper potential.

Significantly, the company achieved 100% Native Title Consent for its Marree Uranium Project in South Australia, a critical regulatory milestone that unlocks pathways to maximise stakeholder value. This consent reflects Adavale’s strong engagement with traditional landowners and supports future project development.

While nickel exploration in Tanzania’s Kabanga Jirani and Luhuma projects remains on hold pending market recovery, Adavale’s diversified portfolio and solid cash position of approximately $1.95 million at quarter-end provide a stable platform for ongoing activities.