Adavale Resources (ASX:ADD) tightens its grip on Parkes corridor with Ashes IP breakthrough

Adavale Resources has sharpened its exploration focus in central west New South Wales, identifying a coherent induced polarisation (IP) chargeability anomaly at its Ashes Prospect while consolidating adjacent tenure south of the London Victoria Gold Mine.

The update underscores how recently secured ground is already translating into clearer geological targeting across the Parkes Gold Copper Project.

Highlights

• Strong IP chargeability anomaly at Ashes now extends fully into Adavale controlled tenure
• High grade surface rock chips coincident with IP anomalies, including up to 10.65g/t Au, 1.98% Cu and 158g/t Ag
• Expanded landholding enables integrated interpretation of geophysical, structural and historical datasets
• Southern strike extension of the London Victoria gold corridor secured via EL9178
• Expanded Phase 3 drilling program of an initial 6,000 metres underway at London Victoria
• Magnetic survey data acquisition planned for March 2026

The Ashes Prospect sits within Adavale’s broader Parkes footprint in the Lachlan Fold Belt, an established gold copper province that also hosts major operations such as Northparkes and Cadia.

Following consolidation of adjacent licences, the company has completed an integrated technical review incorporating 2025 IP survey data and previously reported surface geochemistry.

That work has defined a prominent north south trending resistive corridor interpreted as silica dominant alteration, flanked by discrete zones of elevated chargeability.

These chargeability responses are considered prospective for sulphide bearing alteration within a broader hydrothermal system, while the resistivity anomaly itself may represent upper levels of mineralisation consistent with a higher level epithermal environment developed above or peripheral to an intrusive source.

Importantly, the larger of the discrete chargeability anomalies now sits entirely within Adavale’s tenure, removing previous boundary constraints and allowing the company to assess resistivity and chargeability as one continuous system.

Surface sampling has returned high grade gold silver copper results directly coincident with these anomalies, including 10.65g/t Au, 1.98% Cu and 158g/t Ag, alongside elevated pathfinder elements such as antimony and arsenic.

Managing Director David Ward said the expanded land position materially improves technical visibility across the target area, noting that

“the expansion of our tenure position has allowed us to step back and reinterpret the Ashes Prospect and the broader London Victoria corridor with a much more integrated technical view.”

South of Ashes, the acquisition of EL9178 secures strategic ground immediately along strike from the London Victoria Gold Mine.

Geological interpretation indicates continuation of the same mineralised structural corridor, where gold occurs within a shear zone overprinting a parasitic fold.

Regional magnetics highlight a linear magnetic high extending into the new licence, interpreted to represent Ordovician volcanic sequences that host mineralisation at London Victoria.

Alignment with historical workings supports the view that the system remains open beyond the current mining area.

Adavale now controls 8 contiguous licences across 440.2km2 at Parkes, encompassing the brownfields London Victoria Mine with a 107koz JORC resource, alongside multiple greenfields targets prospective for gold and copper.

The company considers the southern extension into EL9178 a logical brownfields growth opportunity, providing scope to test previously undrilled portions of the corridor where structural repetition may generate additional mineralised zones.

On the ground, an expanded Phase 3 drilling program of an initial 6,000 metres is underway at London Victoria.

This is being supported by pXRF based geochemical logging, incorporation of new structural data to refine the geological and resource model, and planning for further airborne and or ground magnetic surveys, with data acquisition scheduled for March 2026.

Across the wider Parkes Project, Adavale will integrate geochemical, geophysical and structural datasets, reassess the Ashes IP results in light of the expanded tenure, and extend surveys across the consolidated exploration area.

The broader implication is a more cohesive exploration canvas, where brownfields extensions and regional opportunities can be prioritised within a single land package, directing capital toward the highest priority targets.

In a sector increasingly focused on scale and optionality within proven belts, Adavale’s consolidation around Parkes provides a clearer framework for systematic exploration.

With drilling active, magnetic surveys imminent and multiple targets emerging from integrated datasets, the company is positioning its NSW assets for the next phase of technical advancement within one of Australia’s better understood gold copper corridors.

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