Adavale Resources (ASX:ADD) new drilling continues to support upcoming London-Victoria Mineral Resource update

Adavale Resources has reported assays from a further 5 reverse circulation holes totalling 1,110m at the London-Victoria Gold Mine in New South Wales, completed as part of the ongoing resource drillout beneath the existing 1.5km-long open pit.

The holes were drilled from 3 section lines over approximately 190m of northing.

Highlights

The results extend drill coverage between previously reported intersections and provide additional control on the position, width and grade of mineralisation beneath the pit.

On section C-C’, ALRC074 intersected 27m @ 0.90g/t Au from 120m, including 16m @ 1.22g/t Au. At 4m internal dilution, the intercept widens to 48m close to true width.

Farther north, ALRC071 returned 20m @ 0.95g/t Au from 149m, including 4m @ 1.13g/t Au from 157m, approximately 20m below the previously reported 31m @ 1.29g/t Au intersection in ALRC070, which is approximately 16m below the pit floor.

On the intervening section, ALRC072 intersected 6m @ 1.37g/t Au from 106m and a broader 25m @ 0.43g/t Au zone from 126m.

Adavale states that broad mineralisation persists across the 3 drill sections, while local thickness and grade vary within the wider shear-hosted system.

The announcement states that mineralisation exhibits plunging geometries within the shear zone and along strike, with the apparent position and depth on section varying progressively between adjacent cross-sections.

When the drilling is considered in 3 dimensions, the intersections define coherent plunging trends that support continuity of the mineralised system beneath and along strike of the shear zone.

London-Victoria has an existing 2012 JORC Inferred Mineral Resource Estimate of 3.8Mt @ 0.95g/t Au for 115koz Au at a reporting cut-off of 0.25g/t Au, and 3.14Mt @ 1.06g/t Au for 107koz Au at a 0.5g/t cut-off.

Drillhole collar spacing is variable but designed to intersect the mineralised body approximately on 50m sections.

The London-Victoria Gold Project is located on EL7242, 5km south-west of Parkes in Central-West NSW, with EL7242, EL8830, EL8831 and EL9711 subject to a joint venture agreement between Adavale and Agricultural Equity Investments Pty Ltd.

Adavale owns 72.5% of the tenements and is operator of the joint venture, with the remaining 27.5% held by Agricultural Equity Investments and a 2.5% net smelter royalty existing via the 2025 purchase agreement.

Records for mining at and around London-Victoria date back to 1874, with BHP Gold and subsequently Hargraves Resources mining the current pit between 1988 and 1996 and producing 145,000 ounces @ 1.5g/t Au, mined and processed onsite up until 1996.

Adavale Managing Director David Ward said,

“This batch is valuable because it links broad gold intervals across adjacent drill sections and at increasing depth beneath the pit.”

Adavale’s stated next steps at London-Victoria include systematic brownfields drilling to expand and upgrade existing mineralisation, comprehensive metallurgical test work on core samples to assess recoveries, preliminary technical and economic assessments to evaluate development pathways, and high-resolution airborne geophysics to refine structural interpretation, improve targeting accuracy and prioritise follow-up drilling.