Adavale Resources Limited (ASX:ADD) has announced the successful completion of its first-pass geochemical survey at the Ashes and Myalls Prospects within the recently acquired Parkes Project, located in the Lachlan Fold Belt of New South Wales.
This milestone marks significant progress in the company’s exploration efforts just six weeks after acquiring a 72.5 per cent interest in the project.
The survey covered a five-square-kilometre area and involved the collection of 279 grid-based soil samples and 19 rock chip samples.
These samples have been submitted to ALS in Orange for gold and multi-element analysis, with results expected in April 2025.
The data will be instrumental in delineating potential drill targets for a maiden drilling campaign planned for the second quarter of 2025.
Additionally, assays will test for pathfinder elements such as arsenic, bismuth, and antimony, which are commonly associated with gold-copper systems in the region.
This geochemical program follows earlier fieldwork at the Ashes Prospect, where high-grade rock chip results were reported.
Highlights included assays of 7.95 g/t gold, 2.2 per cent copper, and 96.4 g/t silver; 0.74 g/t gold, 0.76% copper, and 58.9 g/t silver; and 0.32 g/t gold with 17.8 g/t silver.
These findings underscore the high prospectivity of the area.
Adavale’s Executive Chairman and CEO, Allan Ritchie, praised the exploration team’s efficiency in completing the survey within two weeks.
He emphasised the company’s commitment to prioritising funds for on-ground exploration activities, with permits already approved for drilling at these prospects.
The Ashes and Myalls Prospects are situated within the Macquarie Arc of the Lachlan Fold Belt, a region renowned for world-class deposits such as Northparkes (5.2Moz Au & 4.4Mt Cu) and Cadia Ridgeway (35.1Moz Au & 7.9Mt Cu).
The current survey aims to refine surface anomalies, define structural controls, and prioritise zones for drilling while supporting future geophysical and geochemical programs across the broader tenement package.
Adavale Resources continues to expand its portfolio beyond gold and copper exploration in New South Wales.
The company also holds uranium tenements in South Australia and nickel sulphide projects in Tanzania, including licences near the world-class Kabanga Nickel Deposit.
This latest development represents a strategic step forward for Adavale Resources as it advances its exploration agenda in one of Australia’s most prolific mining regions.
