Adavale Resources Limited (ASX:ADD) announced the successful completion of its maiden reverse circulation (RC) drilling program at the London Victoria Gold Mine, part of the Parkes Project in New South Wales’ Lachlan Fold Belt.
This marks the first standalone drilling campaign at the London Victoria site in 28 years, with 14 holes drilled totalling 2,060 metres.
Of the 14 holes, nine were positioned on the flanks of the existing pit, while five were drilled from within the pit floor, targeting shallow extensions of known gold mineralisation.
Visual inspection of drill chips confirmed the successful intersection of the target shear zone, a key structural feature controlling the mineralisation.
Adavale’s Executive Chairman and CEO, Allan Ritchie, stated: “The completion of the maiden drilling campaign at London Victoria is a milestone, not just for the project but for the company alike.
“This marks the first standalone drilling campaign at the project for 28 years and solidifies the transformation of Adavale to a gold explorer and potential developer.”
Ritchie stated that finishing the program safely, punctually, and within the allocated budget, while successfully intersecting the targeted shear zone, highlights the strength of Adavale’s exploration team.
He added that all samples have been submitted for assay and downhole logging is underway on selected holes to aid structural analysis.
He noted that assay results will be shared with the market as soon as they are available and that these findings, along with the structural review, will direct future exploration efforts at London Victoria.
Samples were progressively submitted to Onsite Laboratory Services in Bendigo and are currently pending results.
Groundsearch has mobilised to the site to perform optical televiewer logging on select holes, helping to define mineralisation controls and inform future drill planning.
The drilling campaign aims to expand and potentially upgrade the current JORC 2012 Inferred Mineral Resource Estimate of approximately 115,000 ounces of gold, which includes a higher-grade portion of 3.14 million tonnes at 1.06 grams per tonne for 107,000 ounces.
Beyond the drilling program at London Victoria, Adavale continues its broader exploration across the Parkes Project, including planning additional geochemical surveys, reconnaissance work at multiple prospects, and further resource assessment from recent drill results.
This successful maiden drilling program marks a significant step in Adavale Resources’ evolution into a focused gold explorer and potential developer within a world-class mining jurisdiction.
