Adavale Resources has reported its best-ever gold intercepts from the London-Victoria mine, signalling strong potential for a significant resource upgrade. With further assay results pending and Phase 3 drilling imminent, the company’s exploration momentum is building.
- Highest grade gold intercepts to date at London-Victoria
- Notable hits include 14m @ 2.62g/t Au and 23m @ 1.64g/t Au
- Mineralisation remains open at depth, down plunge and along strike
- Seven drillhole assays still pending, with Phase 3 drilling planned
- Ongoing exploration activities across the broader Parkes Project
Strong Drilling Results at London-Victoria
Adavale Resources Limited (ASX, ADD) has announced its highest grade gold intercepts to date from the Phase 2 drilling campaign at the London-Victoria Gold Mine in New South Wales. Among the standout results are a 14-metre intercept grading 2.62 grams per tonne (g/t) gold and a 23-metre intercept at 1.64 g/t gold. These intercepts, reported from five of twelve holes drilled, underscore the continuity and robustness of the mineralised system beneath the existing open pit.
Managing Director David Ward highlighted that these results validate the company’s targeting strategy and confirm the scale of mineralisation extending below the current resource. The intercepts notably include higher-grade zones, such as 4 metres at 3.46 g/t and 2 metres at 5.17 g/t within the broader intercepts, which could materially enhance the economic potential of the deposit.
Resource Expansion Potential and Geological Insights
The drilling program has focused on confirming structural controls on gold mineralisation and expanding the existing JORC Mineral Resource Estimate (MRE). The London-Victoria deposit remains open at depth, down plunge, and along strike, suggesting significant upside for resource growth. The current inferred resource stands at approximately 3.8 million tonnes at 0.95 g/t gold for 115,000 ounces, but the new intercepts, particularly those occurring just 30 metres below the pit floor, are expected to contribute to a meaningful increase.
Geological observations indicate that the gold mineralisation is hosted within a tight antiformal structure along a sheared volcanic-sediment contact, with quartz veining and alteration minerals such as sericite and chlorite. The company is integrating new structural data and geochemical logging to refine its geological model, which will guide future drilling and resource updates.
Pending Assays and Next Steps
Assay results from seven additional holes, totaling nearly 1,500 metres of drilling, are awaited and expected to further clarify the extent of mineralisation. Adavale has signalled that a Phase 3 drilling program is imminent, aiming to build on the encouraging Phase 2 outcomes. The company is also advancing geochemical and magnetic surveys across its broader Parkes Gold-Copper Project, which lies within the highly prospective Lachlan Fold Belt, home to major mines like Cadia and Northparkes.
Executive Chairman Allan Ritchie expressed optimism that the pending results will support resource expansion and strengthen the long-term development case for London-Victoria. The company’s disciplined sampling and assay protocols, including reverse circulation drilling and rigorous quality controls, lend confidence to the reliability of these findings.
Broader Exploration Context
Beyond London-Victoria, Adavale’s portfolio includes uranium tenements in South Australia and nickel projects in Tanzania, reflecting a diversified exploration strategy. However, the immediate focus remains on unlocking value at Parkes, where the company is leveraging geophysical and geochemical tools to identify new targets and refine existing ones.
With the London-Victoria mineral system open in multiple directions and the company poised to deliver further drilling results, Adavale is positioning itself for a potentially transformative resource upgrade in a Tier-1 mining jurisdiction.
Bottom Line?
As Adavale awaits remaining assays and prepares for Phase 3 drilling, the London-Victoria project stands on the cusp of a resource expansion that could reshape its development trajectory.
Questions in the middle?
- How will the pending seven drillhole assays impact the overall resource estimate?
- What is the timeline and scope for the upcoming Phase 3 drilling program?
- Could the integration of new structural and geochemical data lead to discovery of additional high-grade zones?