Adavale Resources Limited (ASX:ADD) has announced plans to commence a geochemical survey at its recently acquired Parkes Gold and Copper Project in the Lachlan Fold Belt of New South Wales.
The survey, targeting the Ashes and Myalls Prospects, aims to identify high-priority drill targets using modern exploration techniques.
The Parkes Project, spanning 354.15 square kilometres, is strategically located adjacent to the Northparkes copper-gold mine, which has produced 5.2Moz of gold and 4.4Mt of copper, and south of Alkane’s Tomingley Gold Mine, with 1.7Moz of gold.
This prime location in one of Australia’s most prolific mining regions underscores the project’s potential.
Adavale’s exploration program will focus on a five square kilometre area, employing grid-based rock chip and soil geochemistry surveys.
The company has secured full access agreements with local landholders, ensuring uninterrupted exploration activities.
To maximise the effectiveness of the program, Adavale has engaged experienced geological consultants with specialised knowledge of the Lachlan Fold Belt.
Allan Ritchie, Adavale’s Executive Chairman and CEO, expressed optimism about the project: “The extent of outcropping Ordovician rock in the survey area is promising for gold and copper discoveries, giving us a distinct advantage in the region.
“We are confident that this geochemical survey will be completed swiftly and efficiently.”
Recent reconnaissance work at the Ashes Prospect has already yielded encouraging results.
High-grade rock chip samples returned values of up to 8.8 g/t gold and 5.5 per cent copper, further confirming the area’s potential to host significant gold-copper mineralisation.
As part of its broader exploration strategy, Adavale plans to expand its regional assessment to additional prospective areas within its tenement package.
This includes the Front Gate (EL8831), No Mistake (EL8830), and The Dish (EL9711) exploration licences.
Simultaneously, the company is advancing work on the London-Victoria Mine (EL7242), aiming to upgrade its historical estimate to a JORC-compliant mineral resource.
The London-Victoria deposit, with its estimated historical production of 200,000 to 250,000 ounces of gold at grades between 1.5-2g/t Au, represents a significant opportunity for Adavale.
As Adavale Resources progresses with its exploration efforts in the Lachlan Fold Belt, investors and industry observers will be keenly watching for updates on the geochemical survey results and subsequent drilling target identification.
The company’s strategic approach to unlocking the potential of its assets in this world-class mining region positions it well for future growth and discovery.
