Adavale Resources (ASX:ADD) accelerates drilling at London-Victoria to expand 115kOz resource base

Adavale Resources has expanded and accelerated its 6,000m reverse circulation drilling programme at the London-Victoria Gold Mine within its Parkes Gold-Copper Project, with the addition of a second drill rig and a broader exploration programme aimed at growing the existing 115kOz JORC 2012 Inferred Mineral Resource.

Highlights

• 6,000m RC drilling programme expanded at London-Victoria
• Second drill rig secured to accelerate a larger and more continuous drilling programme
• Programme focused on growing the existing 115kOz Au Mineral Resource
• First assay results expected in April, with ongoing results anticipated thereafter
• Victoria South Prospect interpreted as an extension of known mineralisation
• Drone magnetic survey footprint to be enlarged, with additional geophysical and soil sampling programmes planned

Drilling activities at the London-Victoria Gold Mine are continuing, with the programme designed to systematically expand the existing 115kOz JORC 2012 Inferred Mineral Resource Estimate.

The company has secured a second drill rig to accelerate progress and support a larger and more continuous programme of model-driven drilling.

Recent drilling has reinforced the geological model, with results supporting both grade and continuity of mineralisation.

The company has indicated that the current programme is transitioning into a more systematic, model-driven phase of resource drilling, using the growing geological and drilling dataset to target extensions to the resource.

Adavale Resources Managing Director David Ward stated,

“We are seeing a very consistent picture emerging at London-Victoria, where drilling continues to validate both the grade and continuity of the mineralised system. Importantly, we are now transitioning into a more systematic model-driven phase of resource drilling, using the growing geological and drilling dataset to target extensions to the resource.”

The London-Victoria Mineral Resource currently stands at 115,000oz and is defined over a shallow portion of the overall system.

The expanded drilling programme is focused on extending mineralisation both along strike and at depth, with results to be reported on a continuous basis as they are received following the expected commencement of assays in April.

Exploration is also being extended beyond the immediate resource area, with the Victoria South Prospect, located along strike to the south of the London-Victoria open pit, being evaluated as a potential continuation of the existing mineralisation.

Historical soil auger sampling at Victoria South has identified a coherent gold anomaly with a peak result of 600ppb Au, and a review of historical drilling and surface data is underway.

In parallel, the company is expanding its geophysical coverage, including plans to extend the current drone magnetic survey across the broader London-Victoria Project area.

At the Ashes Prospect, additional magnetic geophysics and soil sampling programmes are in planning to support target generation within newly acquired tenure.

At a project scale, the Parkes Project comprises 9 granted exploration licences covering approximately 489.4km2 within the Macquarie Arc of the Lachlan Fold Belt.

The region hosts operations including Cadia Ridgeway and Northparkes, and the company’s tenement position is located adjacent and directly west of the Parkes Project area.

Alongside drilling, the company is progressing brownfields activities including systematic drill-out programmes, preliminary metallurgical test work, early-stage scoping studies, and high-resolution airborne geophysics to refine structural interpretation and prioritise follow-up drilling.

With drilling underway and assay results expected from April, the company is positioned to deliver ongoing updates as results are received, alongside continued exploration and target generation activities across the broader project area.