Adavale Resources reports strong assays from initial drillholes at London-Victoria, revealing high-grade northern lodes and broad southern mineralisation that underpin resource growth potential.
- First 6 drillholes show distinct northern high-grade and southern bulk-tonnage gold zones
- Drilling campaign ongoing with 2 rigs and 20 holes pending assays
- Resource upgrade and development studies targeted for mid-2026
- Parkes Project remains highly prospective for gold-copper in Lachlan Fold Belt
- Complementary uranium and nickel projects diversify Adavale's portfolio
Strong Assay Results Highlight Resource Growth Potential
Adavale Resources (ASX:ADD) has unveiled promising assay results from the first six drillholes of its ongoing London-Victoria infill drilling campaign, reinforcing the potential to expand the existing 115,000-ounce gold resource beneath the open pit. The initial 1,338 metres drilled represent just a fraction of the 5,594 metres planned, with another 20 holes in the lab awaiting assay results and drilling continuing with two rigs onsite.
Notably, the assays reveal a clear contrast in mineralisation styles across the deposit. The northern area returned higher-grade gold intercepts, including a standout 1-metre intercept grading 12.1 g/t Au in hole ALRC031, suggesting potential for underground mining beneath the pit. Meanwhile, the southern area delivered broader zones of consistent, lower-grade mineralisation, exemplified by intercepts such as 31 metres at 0.91 g/t Au from 147 metres in ALRC034, supporting bulk-tonnage resource growth.
Managing Director David Ward explained that this dual style of mineralisation positions the project well for both open pit and underground development options, with both domains remaining open and largely untested at depth. The company plans to leverage structural geological modelling, aided by downhole optical televiewer data, to better target these plunging lodes in the north and extend the resource footprint in the south.
Ongoing Drilling and Resource Upgrade Plans
Adavale is systematically drilling out the resource with the aim of expanding and upgrading the existing Mineral Resource Estimate (MRE), originally reported in May 2025. The company expects to complete an updated MRE by mid-2026, incorporating the pending assay batches. Complementary activities include preliminary metallurgical testing to assess recovery rates, early-stage scoping studies to evaluate development pathways, and high-resolution geophysical surveys to refine structural interpretations and improve targeting accuracy.
This accelerated drilling campaign builds on recent efforts to ramp up exploration at London-Victoria, including securing a second rig and expanding geophysical surveys to sharpen target generation. The current results add momentum to this strategy, confirming the deposit's complex mineralisation and the opportunity for meaningful resource additions. These developments follow the company's earlier identification of multiple near-mine targets and high-grade extensions along the London-Victoria corridor, as outlined in recent reports.
Parkes Project and Broader Exploration Portfolio
The London-Victoria Gold Mine sits within Adavale's Parkes Gold-Copper Project, a 489.4 km² portfolio of exploration licences strategically located in the Lachlan Fold Belt of New South Wales. This Tier-1 jurisdiction hosts world-class operations such as Cadia Ridgeway and Northparkes, underscoring the project's prospectivity. Adavale's tenure includes both 100% owned and joint venture licences, with a 2.5% net smelter royalty held by Agricultural Equity Investments Pty Ltd on some tenements.
Beyond gold and copper, Adavale also holds exploration licences prospective for sedimentary uranium in South Australia and a nickel sulphide project in Tanzania, broadening its resource exposure. The company's integrated approach combines systematic drilling, geophysical surveys, and geochemical sampling to advance both near-mine resource expansion and greenfields discovery targets.
These latest drilling results at London-Victoria, with their clear delineation of high-grade northern lodes and broad southern mineralisation, reinforce the project's potential to evolve into a multi-faceted mining operation. The upcoming resource update and development studies will be critical milestones to watch as Adavale seeks to convert exploration success into tangible value.
Investors following Adavale’s progress will note the company’s methodical execution of its exploration strategy, which is also reflected in its recent identification of multiple near-mine gold targets and acceleration of drilling activities across the Parkes Project. This disciplined approach may prove decisive in unlocking the full potential of the London-Victoria deposit and its surrounding targets.
Bottom Line?
Adavale’s initial drilling results at London-Victoria reveal a compelling dual mineralisation style that could underpin both open pit and underground mining, with a resource update due mid-year set to clarify the project's next phase.
Questions in the middle?
- How will the pending assays from 20 drillholes influence the updated Mineral Resource Estimate?
- What metallurgical recovery rates will preliminary testing reveal, and how might they impact development plans?
- Can structural modelling and geophysical surveys effectively delineate the plunging high-grade lodes in the northern domain?