Adavale Reports 14m at 2.62g/t and 23m at 1.64g/t Gold Intercepts in Phase 2 Drilling
Adavale Resources has reported its highest-grade gold intercepts to date at the London-Victoria Gold Mine, confirming significant potential for resource expansion. The company also strengthened its leadership with the appointment of David Ward as Managing Director, advancing its exploration momentum.
- Completion of Phase 2 drilling with 12 holes totaling 2,411 metres
- Record gold intercepts including 14m at 2.62g/t and 23m at 1.64g/t Au
- New Managing Director David Ward appointed to lead exploration efforts
- Advancement of structural geology study revealing open mineralisation zones
- Secured 100% Native Title consent for Marree Uranium Project, reducing regulatory risk
Strong Drilling Results at London-Victoria
Adavale Resources Limited has delivered a compelling update from its flagship London-Victoria Gold Mine in New South Wales, completing a high-conviction Phase 2 reverse circulation drilling program. The 12-hole campaign, spanning 2,411 metres, targeted extensions of gold mineralisation beneath the existing open pit and beyond the current resource boundary.
The results are notable, with the company reporting its highest-grade gold intercepts to date. Highlights include a 14-metre intercept grading 2.62 grams per tonne and a 23-metre intercept at 1.64 grams per tonne, with some intervals reaching up to 5.17 grams per tonne. These findings reinforce the continuity and robustness of the mineralised system, which remains open at depth and along strike, suggesting meaningful upside potential for resource growth.
Leadership Strengthens Technical and Operational Capability
In a strategic move to accelerate exploration and development, Adavale appointed David Ward as Managing Director during the quarter. Mr Ward brings over 30 years of experience in exploration and mining operations within the Lachlan Fold Belt, including prior roles at Hargraves Resources and Newmont’s Cadia Gold Mine. His hands-on leadership has already been evident in guiding the Phase 2 drilling program and advancing greenfields exploration across the broader Parkes Project.
Advancing Geological Understanding and Regional Exploration
Complementing the drilling success, Adavale completed an independent structural geology study led by Ian E. Neilson MSc, integrating historic BHP Gold grade control data. This work identified key structural controls on mineralisation, including an east-dipping shear and anticline over a 1.5-kilometre strike length, with stacked mineralised zones that remain open for expansion.
Beyond London-Victoria, the company progressed regional exploration with ground magnetic surveys and rock chip sampling at priority prospects such as Corner and Parkvale South. Encouragingly, rock chip assays from Corner returned multiple gold-bearing quartz veins exceeding 1 gram per tonne, underscoring the prospectivity of these greenfields targets within the Parkes Project.
Regulatory Milestone at Marree Uranium Project
Adavale also achieved a significant regulatory milestone by securing 100% Native Title consent for its Marree Uranium Project in South Australia. Agreements with the Dieri Aboriginal Corporation and the Adnyamathanha Traditional Lands Association materially de-risk the project, paving the way for future exploration and drilling activities.
Financial Position and Outlook
At quarter-end, Adavale held cash reserves of approximately $1.27 million, having spent $471,000 on exploration and evaluation activities. While the company’s funding is sufficient for the next two quarters, management remains open to capital raising if necessary to support its ambitious exploration agenda. The upcoming Phase 3 drilling program and planned metallurgical assessments are poised to build on the current momentum.
Bottom Line?
Adavale’s record drilling results and strengthened leadership set the stage for a pivotal year of resource growth and project advancement.
Questions in the middle?
- What will the assay results from the remaining seven drill holes reveal about resource expansion?
- How will the Phase 3 drilling program refine the near-term production strategy at London-Victoria?
- What impact will the Native Title agreements have on the timeline and scope of exploration at Marree?
