Adavale Resources (ASX: ADD) has delivered its highest-grade gold intercepts to date from the London-Victoria Gold Mine in central-west New South Wales, with early Phase 2 drilling results confirming significant potential to extend the existing mineral resource both at depth and along strike.
Assay results have now been received from five of the 12 holes completed under the Phase 2 program, revealing several standout intersections.
Key results include 14 metres at 2.62 grams per tonne (g/t) gold from 133 metres (1.0 g/t Au cut-off) in hole ALR018, and 23 metres at 1.64 g/t gold from 142 metres (0.5 g/t Au cut-off) in hole ALR020.
Within this interval, notable higher-grade sections comprise 4 metres at 3.46 g/t gold from 157 metres and 2 metres at 5.17 g/t gold from 145 metres (1.0 g/t Au cut-off).
These intercepts, positioned approximately 30 metres below the existing pit floor, mark the best drilling results achieved by Adavale at the site so far.
Additional returns from hole ALR025 include an intersection of 31 metres at 0.71 g/t gold from 151 metres (0.5 g/t Au cut-off), with a higher-grade zone of 6 metres at 1.39 g/t gold from 157 metres (1.0 g/t Au cut-off).
The results also indicate the potential presence of a new footwall lode, further enhancing the geological understanding of the deposit.
Adavale Resources Managing Director, David Ward, said the results confirm both grade consistency and system scale beneath the current resource base.
“These early Phase 2 drilling results from London Victoria are highly encouraging and continue to demonstrate the scale and continuity of gold mineralisation below the existing Resource,” Ward said.
“The intercepts reported, particularly the 14m @ 2.62g/t gold in ALRC018 and 23 metres at 1.64g/t gold in ALRC020, are the highest grade drillholes drilled by Adavale to date and confirms that our targeting strategy is working and that the system remains robust below the existing pit.”
Executive Chairman and CEO, Allan Ritchie, said the company expects further results to build on this momentum.
“With assays still pending for seven additional holes, we see strong potential for these results to further support Resource expansion and strengthen the long-term development case for London Victoria,” he said.
“We look forward to reporting the remaining results as they become available.”
According to Adavale, the London-Victoria mineral system remains open at depth, down plunge, and along strike.
All completed Phase 2 drillholes are considered capable of contributing to a material increase in the JORC 2012 Mineral Resource Estimate once integrated.
Assays for seven remaining drillholes, representing 1,476 metres of drilling, are pending and expected in the coming period. Following completion of Phase 2, the company is advancing additional geological and geochemical analysis to refine structural and resource models, with planning for a Phase 3 drilling program already underway.
Adavale is also evaluating further geophysical surveys to target additional gold-bearing zones across the broader Parkes Gold-Copper Project.
The project lies within the highly prospective Lachlan Fold Belt of New South Wales, a region that hosts several major gold and copper operations.
