Adavale Resources Limited (ASX:ADD), released results from its first drilling campaign at the London Victoria Gold Mine in New South Wales. The company reported the first gold assays from the project since 1997. Adavale drilled 11 holes across the site, with three more waiting for assay results. The London Victoria Gold Mine already hosts a JORC Mineral Resource of 3.14 million tonnes at 1.06 grams per tonne gold. This equates to 107,000 ounces of gold. 
Figure 1: Drill Collars of 14 RC holes drilled at London Victoria Mine
Significant Gold Intercepts
Drilling immediately below the existing pit floor produced notable high-grade gold intercepts. Adavale recorded 10 metres at 1.95 grams per tonne gold from a depth of 149 metres in hole ALRC001. This interval included a one-metre stand-out of 8.3 grams per tonne. Another intercept returned 12 metres at 1.48 grams per tonne gold from 38 metres in hole ALRC004. Hole ALRC008 hit six metres at 1.69 grams per tonne from 33 metres. Drill hole ALRC009 intersected three metres at 1.92 grams per tonne gold from nine metres depth. Hole ALRC011 produced three metres at 6.64 grams per tonne from 10 metres, including one metre at 14.6 grams per tonne.
Strike Length Grows Open for Expansion
Adavale confirmed that gold mineralisation extends over 1.4 kilometres of north-south strike. This reaches well beyond the previously mined lodes and the current resource area. The mineralisation remains open down dip and along strike to the south. A magnetic survey will follow to better define magnetic lows linked with the gold-bearing rock. This step could make future drill targeting more efficient.
Gold Assays Reinforce Resource Upside
Allan Ritchie, Adavale’s Executive Chairman and CEO, stated, “The initial assay results from the maiden drilling program have reinforced the conviction Adavale has a potential producing asset in the London Victoria Gold Mine. High-grade mineralisation has been confirmed both within and outside of the existing JORC Mineral Resource envelope which will be utilised to further expand upon the size and confidence of the Resource.”
Ritchie added, “Analysis of the downhole logs has highlighted a relationship between magnetic susceptibility and gold mineralisation. Using this relationship Adavale can detect the demagnetised volcanics as a proxy for mineralisation utilising well established geophysical methods. This makes for more efficient drill targeting in future drilling campaigns. These results vindicate Adavale’s strategy of generating value for shareholders through its brownfield asset in London Victoria and its greenfield exploration activities within the broader Parkes Project portfolio; we are well-positioned to build on the strong momentum established by these results.”
Structural Controls Identified
Observations within the pit during drilling suggest the deposit features a doubly plunging fold. The mineralisation plunges both north and south. The company engaged specialist consultants, Model Earth, to confirm and refine the geological model.
Details of Drilling Intercepts
Adavale summarised details from different sections of the pit. In the north, ALRC001 intersected 10 metres at 1.95 grams per tonne immediately under the pit, the first drilling at London Victoria in 28 years. Hole ALRC007 hit eight metres at 0.71 grams per tonne. ALRC008 struck six metres at 1.69 grams per tonne below the pit floor. The central pit produced 12 metres at 1.48 grams per tonne gold from 38 metres in ALRC004. ALRC005 delivered nine metres at 0.91 grams per tonne gold from four metres. ALRC006 failed to reach target depth. The southern pit saw ALRC011 intersect three metres at 6.64 grams per tonne gold from 10 metres, while ALRC009 returned three metres at 1.92 grams per tonne gold from nine metres.
Figure 3: Plan view of the southern portion of the open pit
Magnetic Susceptibility and Gold Association
Adavale collected magnetic susceptibility readings on all RC samples. Volcanic rocks at the site show variable magnetism from magnetite content. The company noted a low magnetic response correlates with gold mineralisation. This suggests demagnetisation from alteration during gold formation or destruction of magnetite next to gold. Magnetic lows now offer a reliable proxy for gold presence, guiding ground or airborne magnetic surveys.
Ongoing Exploration and Next Steps
Three more holes remain pending assay at London Victoria, with 651 samples in fire assay. The company plans to conduct more magnetic surveys based on positive associations observed. Structural mapping and modelling is underway using external consultants. Phase two drilling is now in planning, designed to test extensions beneath existing pits and further along strike.
Broader Parkes Project Work
Adavale’s Parkes Project covers five exploration licences over 371.39 square kilometres within the Macquarie Arc, an area known for world-class operations including Cadia Ridgeway and Northparkes. Ongoing fieldwork includes geochemical survey planning, follow-up rock-chip sampling, and further reconnaissance on prospects within the portfolio. Adavale recently collected 12 rock chip samples from the Corner prospect in the northwest of EL8831, with results pending.
Company Overview
Adavale Resources holds a diverse exploration portfolio. In New South Wales, it controls gold and copper tenements in the highly prospective Lachlan Fold Belt. The South Australian uranium portfolio comprises 11 granted licences, including seven in the northern Flinders Ranges outwash and four east of Ceduna, totalling 4,959 square kilometres. In Tanzania, Adavale holds the Kabanga Jirani Nickel Project, including 13 granted licences along the East African nickel belt, covering 1,315 square kilometres.
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Historical Mining and Previous Exploration
Mining records at London Victoria and surrounds date to 1874. Initial alluvial mining rapidly traced gold back to the hard-rock source. From 1988 to 1996, BHP Gold and Hargraves Resources mined the open pit. The operation produced 145,000 ounces of gold at grades near 1.5 grams per tonne. The mine closed in the 1990s due to low prices.
Technical Compliance and JORC Statement
Adavale issued the new results while confirming all resource statements remain valid under the JORC 2012 code. The company’s Competent Person, Barry Willott, from Desdinova Metals Pty Ltd, compiled the exploration data and consents to its form and context.
Rigorous Sampling and QA/QC
The company used industry-standard RC drilling with a 140mm face sampling bit. Each one-metre sample was split for assay, pulverised, and assayed using a 50g sample and atomic absorption spectroscopy. Standard operating procedures included regular field duplicates, and senior company staff checked drill data. Samples remain under strict chain-of-custody.
Future Drilling and Resource Growth
Planning for further geophysical, structural, and geochemical surveys continues across Adavale’s projects. The company expects final assays soon and will use new data to guide phase two drilling. Adavale aims to grow resources and possibly upgrade its current JORC Mineral Resource Estimate in future updates.
