Adavale Resources (ASX:ADD) Extends gold potential beneath London Victoria Pit

Adavale Resources (ASX:ADD) has delivered results that underline the hidden potential of its London Victoria Gold Mine in New South Wales.

The company’s maiden drilling program has returned the project’s broadest intercept in over three decades, reinforcing the view that the deposit has much more to offer beneath the historic pit floor.

Highlights

• Widest gold intercept in 30 years: 48 metres at 0.82 grams per tonne gold, including 25 metres at 1.17 grams per tonne.

• Mineralisation confirmed more than 100 metres below the existing pit floor and beyond the current resource estimate of 107,000 ounces.

• Structural mapping underway to refine targeting, testing a possible doubly plunging anticline.

• Magnetic surveys being prepared to sharpen definition of gold-bearing zones.

• Phase 2 drilling planned for late 2025, followed by an updated JORC resource and metallurgical test work in 2026.

The standout result came from hole ALRC014, which intersected mineralisation in an area not previously drilled.

The hole returned 48 metres at 0.82 grams per tonne gold from 133 metres depth, including a higher-grade interval of 25 metres at 1.17 grams per tonne from 144 metres.

Significantly, this mineralisation sits more than 100 metres below the pit floor, demonstrating that the resource envelope remains open at depth and along strike, and these findings are not isolated.

Historical drilling south of the pit produced comparable wide zones of mineralisation, suggesting strong continuity. Together, the results present a compelling case for a system with scale that extends well below and beyond the limits of the current mine.

These studies are expected to provide a stronger framework for targeting the company’s next drilling phase.

Executive Chairman and Chief Executive Officer Allan Ritchie said:

“We are highly encouraged by the results from our maiden drilling program at London Victoria, which has delivered the widest gold intercept to date in hole ALRC014, in an area without prior drilling. These results not only demonstrate consistent and significant grades and widths, and also highlight the clear potential to expand the resource well beyond the current JORC Mineral Resource Estimate.”

The company’s plans for the months ahead are equally notable, with Phase 2 drilling scheduled for the final quarter of 2025 to test extensions beneath the existing pits and along strike, feeding into an updated JORC resource estimate and leading into scoping and metallurgical test work in 2026.

Meanwhile, exploration continues across Adavale’s broader Parkes Project, where results from a recently extended IP survey at the Ashes prospect are expected in the near term.

These will guide the next steps in evaluating what is shaping up as a highly prospective copper-gold opportunity.

With gold prices pushing into record territory, Adavale finds itself well-positioned for a strong finish to the year.

Two drilling programs are already being planned, fieldwork is advancing across multiple greenfield prospects, and the company has a clear pathway to expand its gold resource base while advancing parallel exploration opportunities.

For investors, the story unfolding at London Victoria is one of a once-overlooked historic pit now revealing new depth and potential for a modern resource revival.

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