Adavale Resources Limited (ASX:ADD), an Australian explorer focused on gold and copper, has reported significant progress in its maiden reverse circulation (RC) drilling campaign at the London-Victoria Gold Mine, part of the Parkes Project in New South Wales.
The program has advanced ahead of schedule, with nine out of a now-expanded 14 planned holes completed, totalling 996 metres drilled to date.
All holes in the campaign have intersected the targeted mineralised shear zone, a result validated by visual inspection and in alignment with historical drilling records.
The mineralised zone is characterised by quartz-veined material, substantiating Adavale’s geological interpretations of the area.
Regulatory approvals for the additional drilling are pending, and the expanded program is expected to be completed by the end of July, with assay results anticipated later this quarter.
A key objective for this maiden RC program is to increase and potentially upgrade the current JORC Inferred Mineral Resource Estimate (MRE) of 3.14 million tonnes at 1.06 grams per tonne gold, for a total of 107,000 ounces.
The campaign also includes plans for reconnaissance work across other prospective targets within the Parkes Project, such as The Dish (EL9711), No Mistake (EL8830), and the northern portion of Front Gate (EL8831).
Adavale Executive Chairman and CEO, Mr. Allan Ritchie, commented: “The maiden RC drilling program at the London Victoria Gold Mine has progressed rapidly and efficiently, with all nine holes drilled successfully intersecting the target mineralised zone, as noted from visual inspection of the drill chips.
“The company has now confidently extended this program from 10 to 14 holes, following an active and ongoing in-pit geological review.
The Adavale team eagerly anticipates the results of the drilling program that is expected to increase the JORC MRE, and will provide a further update upon completion of the current work.”
Alongside drilling, Adavale is progressing a broader regional exploration strategy.
Upcoming milestones include defining an Exploration Target at London Victoria, conducting follow-up geochemical surveys, and continuing reconnaissance across high-priority prospects within the Parkes Project.
The company’s steady progress, accelerated schedule, and positive geological findings signal a promising outlook for expanding gold resources at London-Victoria, with further updates expected after the completion of the current drilling phase.
