Adavale Resources has launched a technically advanced second phase drilling campaign at its London-Victoria Gold Mine, aiming to expand the gold resource beyond current estimates. Led by new Managing Director David Ward, the program builds on promising initial results and structural insights.
- Phase 2 drilling commenced with ~2,300m reverse circulation campaign
- Targets focus on extensions beneath southern pit to grow gold resource
- Phase 1 hit 48m at 0.82g/t gold, extending mineralisation beyond current resource
- Drilling guided by detailed 3D structural geology model
- Assay results expected early 2026, with further exploration planned
Building on Early Success
Adavale Resources Limited (ASX – ADD) has initiated its second phase of drilling at the London-Victoria Gold Mine, part of its Parkes Gold-Copper Project in New South Wales. This follow-up campaign aims to test high-conviction targets identified through a combination of successful initial drilling and a sophisticated 3D structural geology model. The maiden program notably intercepted 48 metres grading 0.82 grams per tonne gold, extending mineralisation well below the existing pit and outside the current JORC Mineral Resource Estimate.
A Technically Informed Approach
Executive Chairman Allan Ritchie emphasised that this drilling program is the most technically informed to date, leveraging structural mapping that reveals gold mineralisation extending over 1.5 kilometres of strike. The mineralisation is controlled by a major east-dipping shear and an associated anticline, with indications that the folded sequence repeats at depth and plunges southwards. This structural complexity suggests a materially larger system than previously understood, presenting significant growth potential.
Leadership and Execution
Newly appointed Managing Director David Ward, bringing three decades of exploration experience across the Lachlan Fold Belt, is directly overseeing the drilling program. His focus is on precise execution to ensure each drill hole maximises the opportunity to demonstrate the deposit’s potential. The current phase involves approximately 10 reverse circulation holes totaling around 2,300 metres, targeting extensions beneath the southern portion of the open pit where the strongest gold zones were identified.
Looking Beyond Drilling
Beyond drilling, Adavale plans to integrate pXRF-based geochemical logging to refine lithological and geochemical models, alongside magnetic surveys to further delineate mineralised zones. These efforts aim to continually refine geological understanding and guide future exploration. The company is also advancing exploration across its broader Parkes Project, including geochemical surveys and reconnaissance of additional targets, underscoring a multi-pronged approach to resource growth.
Strategic Location in a Tier-1 Jurisdiction
The Parkes Project sits within the Lachlan Fold Belt, a world-class geological setting that hosts major operations such as Cadia Ridgeway and Northparkes. Adavale’s tenements cover over 370 square kilometres, positioning the company to leverage regional infrastructure and geological analogues. This strategic positioning enhances the potential value of any resource expansion at London-Victoria.
Next Steps and Market Watch
The drilling program is scheduled to continue through mid-December 2025, with assay results anticipated in early 2026. These results will be critical in determining the scale of resource growth and informing the potential commencement of a third drilling phase. Investors and analysts will be watching closely to see if the promising structural model and initial drill results translate into a significant upgrade in resource size and grade.
Bottom Line?
As assays approach, Adavale’s technically driven drilling could redefine London-Victoria’s gold resource and reshape its growth trajectory.
Questions in the middle?
- Will phase 2 drilling confirm the structural model’s prediction of repeated mineralisation at depth?
- How materially could resource estimates increase based on upcoming assay results?
- What impact will David Ward’s leadership have on accelerating exploration success?