Adavale Resources has announced the discovery of a high-grade gold rock chip sample assaying 22.2 grams per tonne (g/t) at the newly defined Parkvale South Prospect, part of its recently acquired Parkes Project in New South Wales.
This significant result confirms Parkvale South as a high-priority exploration target and underscores its geological similarity to major gold systems in the region, including the Tomingley Gold Mine.
The standout rock chip sample from Parkvale South, returning 22.2g/t gold, validates the area’s previously suspected potential.
Parkvale South is interpreted to sit within a structural zone associated with magnetite destruction, a geological feature also present at Tomingley.
This similarity supports the prospect’s potential to host a substantial gold system.
Nearby, the Welcome Mine Prospect — a historic underground operation — also returned encouraging gold assays of 1.61g/t and 0.647g/t, further highlighting the broader area’s mineral endowment.
Adavale Resources is advancing its exploration program with several key initiatives:
- Completion of 279 grid-based soil samples and 19 rock chip samples from the Ashes Myalls geochemical survey, with assay results pending.
- Further geochemical and geophysical surveys are planned to refine drill targets, with Parkvale South now a top priority for follow-up sampling.
- Planning is underway for Adavale’s maiden drilling campaign, anticipated in Q2 2025, which will be informed by both the current and upcoming geochemical survey results and ongoing IP reprocessing.
- Additional reconnaissance is scheduled for other prospects, including the No Mistake and The Dish licenses, as well as the northern areas of Front Gate.
Executive Chairman and CEO Allan Ritchie highlightedd the importance of the discovery, stating: “Adavale is continuing its systematic and methodical approach to target generation and prospect evaluation.
“The Parkvale South prospect is considered a prime target due to its geological setting being similar to Tomingley, which is now supported by an outstanding rock chip assay result of 22.2g/t Au.”
With significant news flow expected from ongoing fieldwork and a drilling campaign on track for Q2 2025, Adavale Resources is positioned to rapidly advance the Parkes Project and unlock further value from its portfolio in the Lachlan Fold Belt.
