Adavale Resources has discovered significant resource growth potential at the London-Victoria pit in New South Wales.
New independent studies indicate significant resource growth at 3.14 million tonnes at 1.06 grams of gold for every tonne of ore for total amount of 107,000 troy ounces.
Adavale recovered historic BHP Gold hand-drawn grade control maps and scanned them, representing thousands of drillholes from within the mined London-Victoria pit. The maps showed peak grades of up to 37.4 grams per tonne gold in historical grade control drilling.
An independent study by specialist structural geology consultant Ian Nelson has interpreted gold mineralisation over a 1.5-kilometre strike.
Adavale managing director David Ward said the company completed the first modern structural study at London-Victoria since BHP Gold mined there 30 years ago.
“Together with the recently acquired high-density grade control data, this body of work represents a step-change in our understanding of the controls on gold mineralisation,” he said.
“It has identified clear vectors for resource expansion and highlights the strong potential for additional mineralised shoots both at depth and along strike.”
Adavale CEO Allan Ritchie said the results have changed the scale and strategic potential of the London-Victoria pit.
“We now have a clear roadmap for how this asset can grow and an incredible technical team capable of executing on it, with drilling to occur imminently. The opportunity ahead of us is now much larger than previously recognised,” Ritchie said.
The company plans to continue with targeted drilling to define geometry and test for repeated or thickened gold mineralisation within the shear corridor.
Adavale will also undertake a pXRF-based geochemical logging to refine lithological and geochemical discrimination and willo take steps to incorporate new structural data to refine Adavale’s geological and resource models. Adavale is also planning a magnetic survey in light of the positive magnetics versus gold association.
