Adavale Resources has wrapped up its 85-hole drill program at London-Victoria with strong assay results confirming broad and high-grade gold mineralisation beyond the existing resource boundary. An updated Mineral Resource Estimate is expected in Q3 2026, setting the stage for a scoping study.
- Final assays confirm gold outside current resource
- 85-hole drillout dataset now complete
- Updated Mineral Resource Estimate targeted Q3 2026
- Scoping Study planned to assess development options
- Ongoing metallurgical and regional exploration work
Final Drilling Confirms Expansion Beyond Existing Resource
Adavale Resources (ASX:ADD) has received assay results from the last five holes of its 85-hole resource drillout at the London-Victoria Gold Mine, completing the dataset that will underpin a Mineral Resource Estimate (MRE) update due in Q3 2026. The final assays continue a consistent pattern of broad gold intersections and pockets of high-grade mineralisation sitting outside the boundaries of the current 115,000-ounce resource.
Highlights include a 20.95-metre intercept grading 2.25g/t gold from 278 metres, including 10 metres at 3.69g/t Au, and a separate 7 metres at 5.97g/t Au from 202 metres. These results reinforce the depth continuity and potential for resource growth at London-Victoria, which was previously based entirely on historical drilling.
Comprehensive Dataset Enables Resource Model Overhaul
With 82 reverse circulation and 3 diamond drillholes now fully assayed, Adavale holds a substantial new body of geological and assay data that has not been incorporated into any prior resource estimate. Managing Director David Ward emphasised the significance of this milestone, noting that the updated MRE will provide the first comprehensive assessment of the drilling program’s impact on tonnes, grade, contained gold, and resource classification.
This dataset will feed into detailed geological interpretation and three-dimensional modelling, addressing structural complexity and grade distribution that were previously unresolved. The company’s prior announcements have highlighted wide, consistent mineralisation extending beneath the historic open pit, and these latest results further confirm the continuity of the system five drill holes reveal broad gold zones.
Next Steps: Scoping Study and Regional Exploration
Following the MRE update, Adavale plans to initiate a Scoping Study to evaluate mining and processing pathways, infrastructure needs, and preliminary capital and operating costs. This study will leverage updated geological models and ongoing metallurgical testwork to frame potential development scenarios.
Beyond London-Victoria, the company is advancing exploration across its broader Parkes Project, including the Calarie Gold Mine and regional greenfield targets. Planned activities include airborne geophysics to refine structural interpretations and soil and rock-chip sampling to generate new drill targets. Metallurgical testing remains in progress to better understand gold recovery characteristics across the deposit.
Strategic Significance Within Tier-1 Lachlan Fold Belt
The London-Victoria Gold Mine sits within the 610km2 Parkes Project in New South Wales’ Lachlan Fold Belt, a Tier-1 mining jurisdiction that hosts world-class operations like Cadia Ridgeway and Northparkes. Adavale’s contiguous tenements cover 70km of strike along the Parkes Thrust, a prolific gold-copper corridor, positioning the company to leverage regional infrastructure and exploration potential.
This resource update and subsequent development studies mark a pivotal phase in Adavale’s evolution from explorer to developer at London-Victoria, with the drillout program delivering a robust technical foundation for future growth and project advancement.
Bottom Line?
The upcoming Mineral Resource update will be a critical inflection point for Adavale, revealing whether the extensive drilling translates into a meaningful resource upgrade and shaping the project's development trajectory.
Questions in the middle?
- How materially will the updated Mineral Resource Estimate increase the contained gold at London-Victoria?
- What insights will ongoing metallurgical testing provide about processing recoveries and costs?
- How will regional exploration results influence the Parkes Project’s overall resource and development strategy?