Adavale Resources (ASX:ADD) near-mine anomalies define growth pathway at London–Victoria

Adavale Resources has reported multiple near-mine gold targets at its London–Victoria Gold Mine within the Parkes Gold-Copper Project, following a review and compilation of historical surface geochemistry.

The work has identified coherent and well-developed soil gold anomalies within the immediate mine corridor, representing a compelling and low-risk pathway to rapidly expand the existing 115koz JORC 2012 Inferred Mineral Resource Estimate.

Highlights

• Multiple high-quality surface gold anomalies defined parallel and along strike of existing mineralisation
• Peak soil gold values up to 600ppb Au at the Victoria South Prospect
• Targets located immediately adjacent to the existing 115koz Au Mineral Resource Estimate
• Model-driven exploration integrating soil geochemistry and high-resolution drone magnetics
• 2nd drill rig due to start imminently

The results are derived from a detailed review of historical soil geochemistry, which has identified multiple coherent and well-developed gold anomalies along the interpreted London–Victoria shear zone.

These anomalies have footprints comparable in scale and tenor to those associated with the known London–Victoria mineralisation and are positioned within the immediate mine corridor, which materially increases the likelihood of successful drill conversion into additional Mineral Resources.

The Company is advancing these targets through a model-driven exploration approach underpinned by an evolving understanding of structural controls on gold mineralisation.

The integration of soil geochemistry with high-resolution drone magnetic data is enabling detailed mapping of subtle structural features, including parasitic fold geometries and repeated mineralised positions, which are emerging as key controls on gold distribution.

This approach allows the Company to systematically rank and prioritise near-mine targets where geological setting, structural position and geophysical response are aligned, supporting a more efficient, cost-effective drilling strategy.

At the Victoria South Prospect, located directly along strike and south of the London–Victoria Gold Mine, a coherent soil gold anomaly has been defined with peak values of up to 600ppb Au, consistent with the mineralised footprint observed over the nearby main London–Victoria pit.

The prospect is interpreted to form part of the same mineralised shear system that hosts the existing 115koz Mineral Resource and is a high priority target associated with a repeated and favourable structural position along the London–Victoria Shear Zone.

Adavale Resources Managing Director David Ward commented:

“The model-driven approach is significantly increasing our confidence in target ranking and drill positioning, and we see strong potential for future near-mine drilling to advance these anomalies to add to the inventory.”

The proximity of these targets to existing infrastructure provides a clear pathway for rapid evaluation and potential conversion into new Mineral Resources.

This is supported by ongoing brownfields drilling, preliminary metallurgical sighter test work and early-stage scoping studies to evaluate development pathways and inform project prioritisation.

The Parkes Project comprises 9 granted exploration licences covering ~489.4km² within the Macquarie Arc of the Lachlan Fold Belt, with the London–Victoria Gold Mine previously producing 145,000oz @ 1.5g/t Au between 1988 and 1996, where mineralisation is structurally controlled along a north-south trend associated with the London–Victoria Fault.

Looking ahead, planned work includes systematic brownfields drilling to expand and upgrade existing mineralisation, preliminary metallurgical test work, early-stage scoping studies and high-resolution airborne geophysics to refine structural interpretation, improve targeting accuracy and prioritise follow-up drilling, positioning the near-mine pipeline as a key driver of incremental addition of gold ounces to the existing 115koz Resource.

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