Adavale Resources (ASX:ADD) has reported the identification of several high-quality near-mine gold targets at its London-Victoria Gold Mine within the Parkes Gold-Copper Project, NSW, supported by soil geochemistry and drone magnetics. The company plans to commence drilling shortly to test these targets, including a high-priority anomaly at Victoria South with peak soil gold values up to 600ppb Au.
- Multiple near-mine gold anomalies identified along London-Victoria shear zone
- Victoria South Prospect shows peak soil gold values up to 600ppb Au
- Model-driven exploration approach integrates geochemistry and drone magnetics
- Imminent drilling planned to test targets adjacent to existing 115koz inferred resource
- Ongoing metallurgical testing and greenfields exploration complement near-mine focus
Near-Mine Gold Targets Identified at London-Victoria
Adavale Resources Limited (ASX:ADD) has announced the identification of multiple high-quality near-mine gold targets at its London-Victoria Gold Mine, part of the broader Parkes Gold-Copper Project in New South Wales. The company’s recent review and compilation of historical surface soil geochemistry, combined with high-resolution drone magnetic surveys, has revealed coherent gold anomalies along the interpreted London-Victoria shear corridor.
Among these, the Victoria South Prospect stands out as a high-priority target, exhibiting peak soil gold values reaching 600 parts per billion (ppb) Au. This anomaly lies immediately south of the existing 115,000-ounce JORC 2012 Inferred Mineral Resource Estimate (MRE) and is interpreted to occupy a repeated structural position associated with parasitic folding along the shear zone.
Model-Driven Exploration Enhances Targeting Confidence
Adavale’s Managing Director, David Ward, highlighted that integrating soil geochemistry with drone magnetics is enabling the company to resolve subtle structural features such as fold geometries and repeated mineralised positions. These features are emerging as key controls on gold distribution within the system. The evolving geological model is guiding the systematic ranking and prioritisation of near-mine targets where geological setting, structural position, and geophysical response align.
Executive Chairman and CEO Allan Ritchie noted that the scale and continuity of these near-mine anomalies suggest a mineralised system larger than currently defined. The proximity of these targets to existing infrastructure within the mine corridor offers a pathway for rapid evaluation and potential conversion into additional gold ounces, supporting a low-cost, high-impact growth strategy.
Planned Drilling and Broader Exploration Activities
The company plans to commence drilling imminently to test these near-mine targets, aiming to expand and upgrade the existing mineral resource. This drilling forms part of a systematic “drillout” program designed to advance resource growth at London-Victoria. Complementary activities include preliminary metallurgical testing to assess recoveries and support future development studies, as well as early-stage scoping studies to evaluate potential development pathways.
Beyond near-mine targets, Adavale is also progressing greenfields exploration across its Parkes Project tenure. This includes extending high-resolution magnetics and surface geochemistry programs at the Ashes Prospect, recently acquired from Alkane Resources Ltd, to generate new anomalies and rank targets for initial drill testing.
Context Within a Tier-1 Mining Jurisdiction
The Parkes Gold-Copper Project covers approximately 489.4 square kilometres within the Macquarie Arc of the Lachlan Fold Belt, a Tier-1 mining jurisdiction in central-west New South Wales. The region hosts world-class operations such as Cadia Ridgeway and Northparkes, underscoring the prospective nature of Adavale’s tenure. The London-Victoria Gold Mine itself has a history of mining dating back to the late 19th century, with previous production of approximately 145,000 ounces of gold at 1.5 g/t Au between 1988 and 1996.
Adavale’s approach leverages historical datasets alongside modern geophysical techniques to refine structural interpretations and enhance targeting accuracy. While the soil geochemistry data are historical and lack detailed QA/QC protocols, the company is advancing verification through modern sampling and drilling.
These developments follow recent company announcements detailing the acceleration of drilling programs and strategic tenement acquisitions that extend the London-Victoria gold corridor, reflecting a coordinated effort to grow the resource base and explore new opportunities within the project area. For further context, see Adavale’s recent drilling acceleration update and tenement acquisition news.
Bottom Line?
Adavale’s identification of multiple near-mine gold targets and imminent drilling mark a methodical step towards potentially expanding its London-Victoria resource, though verification through drilling results remains essential.
Questions in the middle?
- How will the upcoming drilling results at Victoria South and other near-mine targets influence Adavale’s resource estimates?
- What is the timeline for integrating metallurgical testing outcomes into development planning?
- How might the evolving structural model impact targeting strategies across the broader Parkes Gold-Copper Project?