Adavale Resources (ASX:ADD) reports bonanza-grade 245.5g/t gold at Victoria South, highlighting extension potential

Adavale Resources has reported high-grade gold intercepts from historical drilling at the Victoria South Prospect within its Parkes Gold-Copper Project in New South Wales, following a review and compilation of near-mine drillhole datasets.

The results confirm that surface anomalism at Victoria South is underpinned by significant gold mineralisation at shallow depths and are interpreted as a direct extension of the London–Victoria Gold Mine.

Highlights

• Bonanza-grade intercept of 1m @ 245.5g/t Au from 22m (KGC12)
• Additional intercepts including 17m @ 1.53g/t Au from 12m and 13m @ 2.25g/t Au from 41m
• Further intercepts include 15m @ 1.68g/t Au from 36m and 14m @ 1.05g/t Au from 14m
• Mineralisation interpreted as a direct extension of the existing 115koz London–Victoria Mineral Resource

The results are based on historical drilling completed in 1995 by Sipa Exploration NL under a farm-in agreement with Michelago Resources NL, which returned multiple high-grade intercepts but were not systematically followed up at the time.

The Victoria South Prospect previously straddled the boundary between Exploration Licence EL4945 and the London–Victoria Mining Lease, which limited follow-up drilling where mineralisation extended into ground held by BHP Gold.

These tenure constraints have since been removed, and the area is now consolidated under EL7242 and incorporated into the Company’s drillhole database.

Gold mineralisation at London–Victoria has been recognised since its initial discovery in 1863, with historic mining and exploration focused along the London–Victoria structural corridor.

The deposit is associated with a sheared volcanic and sediment contact along the London–Victoria Fault, with mineralisation occurring within shear zones, quartz veining, and associated sulphide assemblages including pyrite, arsenopyrite, galena and sphalerite.

At Victoria South, evaluation of surface geochemical data identified a coherent gold anomaly immediately south of the existing open pit, with a review of historical drilling confirming that this surface anomalism is underpinned by significant gold mineralisation at shallow depths.

Drill intercepts reported are downhole lengths, with drilling oriented perpendicular to the mineralised shear zone.

The prospect aligns with the Company’s structural model, which highlights the importance of the London–Victoria shear zone and associated fold geometries in controlling gold mineralisation.

Ongoing extension of high-resolution drone magnetic surveys into the area is expected to refine structural interpretations and support drill targeting.

Adavale Resources Managing Director, Mr. David Ward, commented:

“The validation of historical drilling at Victoria South confirms the opportunity for a southern extension of the London–Victoria mineralised system, with multiple shallow, high-grade intercepts supporting strong continuity along strike. The prospect fits directly within our evolving structural model, and with drone magnetics extending into this area, we are well positioned to refine targets in advance of drilling. Victoria South represents a priority near-mine opportunity with potential to deliver additional shallow ounces to support ongoing Mineral Resource growth.”

The Parkes Project comprises 9 granted exploration licences covering approximately 489.4km2 within the Macquarie Arc of the Lachlan Fold Belt in New South Wales.

The region hosts established operations including Cadia Ridgeway and Northparkes, located adjacent and directly west of the project area.

Planned work at London–Victoria includes systematic brownfields drilling to expand and upgrade existing mineralisation, preliminary metallurgical test work, early-stage scoping studies, and high-resolution airborne geophysical surveys to refine targeting.

Regional exploration activities will include extensions of geophysical and geochemical programs and first-pass drilling of priority targets.

The Victoria South Prospect is described as a near-mine opportunity located directly along strike from the existing Mineral Resource and positioned to support follow-up drilling.

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