London-Victoria’s Resource Upside Hinges on Upcoming Drilling Success

Historic Data Revival Sparks New Optimism

Adavale Resources Limited (ASX, ADD) has breathed new life into its London-Victoria gold deposit in New South Wales by recovering and digitising historic grade control maps originally compiled by BHP Gold in the late 1980s and early 1990s. These hand-drawn maps, representing thousands of drillholes, have been georeferenced and integrated with recent high-resolution aerial imagery, providing an unprecedented spatial understanding of gold mineralisation within the mined pit.

The digitisation effort has revealed peak historic grades up to 37.4 grams per tonne gold, underscoring the high-grade nature of the deposit and offering fresh insights into the distribution of mineralisation.

Structural Geology Study Reveals New Growth Pathways

Complementing the historic data, independent structural geologist Ian E. Neilson MSc has completed the first modern structural study of London-Victoria since BHP Gold’s mining operations three decades ago. His work identifies a major east-dipping dextral shear zone as the primary control on gold mineralisation, forming a high-strain corridor that overprints an earlier anticlinal fold structure.

This corridor hosts intense quartz-carbonate-sulphide veining and alteration consistent with shear-related fluid flow, with gold mineralisation most pronounced where andesitic host rocks align parallel to the shear fabric. Importantly, the study interprets a folded or stacked sequence that repeats parallel at depth and plunges southward, suggesting significant upside potential beyond the current resource boundaries.

Resource Growth Potential and Upcoming Drilling

Adavale’s current JORC Mineral Resource estimate for London-Victoria stands at 3.14 million tonnes at 1.06 g/t gold, equating to approximately 107,000 ounces. However, the integration of historic grade control data with the new structural model points to a substantially larger and more complex mineralised system than previously recognised.

With this enhanced geological understanding, Adavale is poised to commence a targeted drilling program in the coming weeks. The campaign will focus on high-priority zones identified by the combined data sets, aiming to test for repeated or thickened gold mineralisation within the shear corridor. Newly appointed Managing Director David Ward, noted for his success in the Lachlan Fold Belt, will lead this critical phase.

Broader Exploration Strategy at Parkes Project

Beyond London-Victoria, Adavale is advancing geochemical logging using portable XRF technology and planning magnetic surveys to refine lithological discrimination and identify further alteration zones. The Parkes Gold-Copper Project, situated within the highly prospective Lachlan Fold Belt near major mines like Cadia Ridgeway and Northparkes, remains a strategic focus with multiple exploration fronts.

Additional reconnaissance and geochemical surveys are underway at adjacent targets such as Parkvale South, No Mistake, and The Dish, reflecting a comprehensive approach to unlocking value across the portfolio.

Leadership and Market Implications

Executive Chairman and CEO Allan Ritchie emphasised the transformative nature of the recent work, highlighting the technical team’s capability and the clear roadmap for resource expansion. The appointment of David Ward signals a commitment to translating geological insights into tangible value through disciplined exploration.

While the resource classification remains inferred due to historic data limitations, the combination of modern structural modelling and digitised historic data represents a significant step-change in understanding. Investors and analysts will be watching closely as drilling results emerge, potentially reshaping Adavale’s valuation and positioning in the gold exploration sector.