Adavale Resources Limited (ASX:ADD), an Australian junior explorer focused on gold and copper in the Lachlan Fold Belt of New South Wales, has announced significant results from its maiden drilling program at the London Victoria Gold Mine. The latest assays confirm wide gold intercepts, indicating open mineralisation beneath the existing pit floor and highlighting the potential for substantial resource expansion.
The drilling program delivered the widest gold intercept in 30 years, with hole ALRC014 intersecting 48 metres at 0.82 grams per tonne (g/t) gold. This intercept included a higher-grade interval of 25 metres at 1.17 g/t gold from 144 metres. These results extend the mineralisation well beyond the current JORC 2012 Resource of 3.14 million tonnes at 1.06 g/t gold for 107,000 ounces, remaining open at depth and along strike. A specialist structural geologist team has commenced structural mapping to refine a possible doubly plunging anticline model.
According to Adavale Resources Executive Chairman and CEO, Mr Allan Ritchie, the results are highly encouraging and demonstrate the potential for resource expansion beyond the current JORC Mineral Resource Estimate. He highlighted that the intersection of 25 metres at 1.17 g/t gold below the known resource serves to highlight the untapped potential of the project. Planning for Phase 2 follow-up drilling is underway, designed to test extensions beneath the existing pits and along strike, targeting substantial gold resource growth beyond the currently known footprint.
The company is also proceeding with magnetic survey planning, targeting detailed definition of magnetic lows associated with the gold-bearing zone within the mineralised andesitic volcanics. Adavale anticipates completing Phase 2 drilling in Q4 2025, followed by an updated JORC resource. The focus in 2026 will then shift to scoping and metallurgical test work at London Victoria. In parallel, analysis of the recently extended IP survey at Ashes is expected in the coming weeks, guiding future exploration at this copper gold prospect.
