Adavale Resources has uncovered six additional near-mine gold prospects adjacent to its London-Victoria Gold Mine, strengthening its Parkes Thrust Project pipeline ahead of a resource update scheduled for September 2026.
- Six new prospects identified near London-Victoria
- Historic drilling data reveals high-grade gold intercepts
- Current resource stands at 166,000 ounces gold
- Two rigs actively drilling on site
- Updated Mineral Resource Estimate planned for September
Six Near-Mine Gold Targets Bolster Parkes Thrust Pipeline
Adavale Resources (ASX:ADD) has expanded its near-mine gold opportunities with the identification of six additional prospects around the London-Victoria Gold Mine in New South Wales. The prospects, Drapers, Nibblers Hill, Waterhouse, Somers, Armstrongs, and McGuiggans, were uncovered through a systematic review of historic drillhole data, reinforcing London-Victoria’s role as the cornerstone of Adavale’s Parkes Thrust Project.
The company’s existing Mineral Resource Estimate (MRE) for the broader Parkes Thrust Project currently sits at 166,000 ounces of gold, based solely on historic data. This figure does not yet incorporate assays from 88 holes drilled by Adavale to date. An updated MRE is anticipated in the September quarter, underpinned by ongoing drilling activities with two rigs operating onsite.
Historic Drilling Highlights High-Grade Potential
Significant historic drill intercepts from these newly highlighted prospects demonstrate promising grades and widths. Drapers, located 1.7km south of the London-Victoria open pit, boasts a shallow intercept of 11 metres at 4.94 grams per tonne (g/t) gold from 9 metres depth, with mineralisation open at depth. Nibblers Hill, acquired recently from Orange Minerals, has a notable intercept of 9m at 4.9g/t Au, complementing historical underground workings that reportedly produced gold at an average grade of 31g/t.
Somers, also known historically as Pinnigers, features a large 2.4km gold-in-soil anomaly with drill results including 8m at 3.2g/t Au and 4m at 4.02g/t Au. Armstrongs, the most extensively drilled satellite prospect, has returned multiple intercepts such as 32m at 0.93g/t Au and 18m at 1.29g/t Au, closely mirroring the orientation and tenor of mineralisation at London-Victoria itself.
Building on Victoria South’s High-Grade Template
These discoveries build on the Victoria South Prospect, adjacent to London-Victoria, where historic drilling yielded standout results like 6m at 41.3g/t Au. This near-mine target has already demonstrated the value of Adavale’s approach to compiling and reinterpreting historical data, providing a blueprint for expanding the resource base across the Parkes Thrust corridor.
Managing Director David Ward emphasised the strategic advantage of these prospects: “These 6 prospects sit right on London-Victoria’s doorstep and complement the high-grade Victoria South Prospect. They give us a clear pipeline of high-quality targets to drill-test as we build out the broader scale and development potential of the Parkes Project.”
Next Steps: Drilling, Metallurgy, and Resource Update
Adavale is progressing several workstreams to advance the Parkes Thrust Project. Brownfields drilling continues with two rigs focused on expanding and upgrading existing mineralisation. Metallurgical test work is underway to assess recovery rates, supporting future development studies. Early-stage scoping studies and high-resolution airborne geophysical surveys aim to refine structural interpretations and prioritise drilling targets.
The company also plans to apply magnetic surveys at the Calarie Gold Mining Licence, part of the consolidated Parkes Project, to assist in targeting. Regional greenfields exploration will extend geophysical and geochemical programs, with first-pass drilling to test new anomalies.
Parkes Project Positioned in a Tier-1 Mining Jurisdiction
Strategically, the Parkes Thrust Project covers approximately 610 square kilometres across 70 kilometres of contiguous strike within the Lachlan Fold Belt, a Tier-1 mining jurisdiction. It sits adjacent to major operations like Cadia Ridgeway and Northparkes, known for their multi-million ounce gold and copper resources. This geological setting underpins the potential for significant resource growth as Adavale advances its exploration and development programs.
Bottom Line?
Adavale’s discovery of multiple near-mine prospects and ongoing drilling momentum set the stage for a potentially material resource upgrade in September, but assay results and metallurgical outcomes will be critical to validate the pipeline’s development potential.
Questions in the middle?
- How will upcoming assay results from the 88 drilled holes influence the September resource update?
- Can metallurgical testing confirm favourable gold recoveries to support economic development?
- What is the potential for these satellite prospects to evolve into standalone deposits or feed a central processing hub?