Adavale Unveils 115koz Gold Resource, Accelerates Parkes Drilling Campaign

A Significant Milestone at London Victoria

Adavale Resources Ltd (ASX, ADD) has delivered a pivotal update on its Parkes Project in New South Wales’ highly prospective Lachlan Fold Belt. The company announced a maiden JORC Inferred Mineral Resource Estimate (MRE) of 115,000 ounces of gold at the historic London Victoria Mine, a former BHP Gold open-pit operation. This resource includes a higher-grade portion of approximately 107,000 ounces at 1.06 grams per tonne, underscoring the deposit’s quality and potential.

The London Victoria Mine benefits from existing infrastructure, including a CIL plant and crushing circuit, as well as development approvals and a “Special Activation Precinct” status, positioning Adavale well for a near-term production scenario. The resource remains open at depth and along strike, with recent drilling confirming wide, consistent gold intercepts that have not been previously tested.

Drilling Progress and Structural Insights

Phase 2 drilling has been completed, with assay results anticipated early in 2026. These results are expected to refine the understanding of structural controls on mineralisation and potentially expand the resource base. The company’s structural geology consultant has developed a 3D model revealing that gold mineralisation is controlled by a major east-dipping shear and associated fold structures, suggesting significant upside where folded sequences repeat at depth and along strike.

Phase 3 drilling is scheduled for February 2026, aiming to grow the gold inventory further and support Adavale’s pathway toward production. This systematic approach to exploration reflects the company’s commitment to swift execution and resource growth.

Strategic Positioning in a Tier-1 Jurisdiction

Adavale’s Parkes Project spans 371 square kilometres across five exploration licences, including the London Victoria Mine. The project lies within the Lachlan Transverse Zone, adjacent to major operations such as Evolution Mining’s Northparkes Mine and Alkane Resources’ Tomingley Mine. This tier-1 jurisdiction is renowned for gold and copper discoveries, enhancing the strategic value of Adavale’s holdings.

Beyond London Victoria, the company holds numerous greenfields prospects with high-conviction targets, including the Ashes and Myalls prospects, where recent geochemical surveys and rock chip sampling have confirmed encouraging gold and copper mineralisation. The acquisition of these assets and the presence of a strong technical team with extensive industry experience underpin Adavale’s growth ambitions.

Financial and Corporate Highlights

As of September 2025, Adavale reported a market capitalisation of approximately $13.19 million with cash reserves of $1.95 million. The company’s share register is tightly held, with the top 20 shareholders owning over 55% and management aligned through significant shareholdings. Recent capital raises and the securing of a strategic investor group provide a solid funding base to advance exploration and development activities.

Upcoming catalysts include assay results from Phase 2 drilling, commencement of Phase 3 drilling, metallurgical work, and a scoping study, all of which could materially impact the company’s valuation and project timeline.