Adavale Resources Limited (ASX:ADD) has unveiled its maiden JORC (2012) Inferred Mineral Resource Estimate (MRE) for the London-Victoria Gold Mine, part of the recently acquired Parkes Project in New South Wales.

The announcement marks a significant milestone for the company, coming just three months after finalising the acquisition of the Parkes Project.

The independent MRE, prepared by Derisk Geomining Consultants Pty Ltd, reports an Inferred Resource of 3.8 million tonnes (Mt) at 0.95 grams per tonne (g/t) gold, containing 115,000 ounces (oz) of gold at a 0.25 g/t cut-off.

For economic assessment, Adavale’s board has determined that a higher cut-off grade of 0.5 g/t is optimal, resulting in 3.14Mt at 1.06 g/t gold for 107,000 oz.

The resource is situated within a shallow conceptual open pit, extending no more than 100 metres below the current pit floor, and is located adjacent to existing historical processing infrastructure.

This proximity enhances the project’s near-term development potential.

Adavale’s Executive Chairman and CEO, Mr Allan Ritchie, commented: “Adavale are absolutely delighted to announce the release of the maiden JORC MRE, a significant milestone for Adavale, especially within only three months since completing the acquisition of the Parkes Project.

“It comes in the context of recent all-time record high gold prices exceeding $5,000 per oz and represents significant value for Adavale.

“We look forward to being able to commence the recommended resource extension drilling program to significantly increase the maiden resource.

“London-Victoria’s opportune location, with ample processing capacity in the region provides multiple paths for Adavale to monetise the London-Victoria Resource.”

The company highlights that mineralisation remains open along strike and at depth, with historical drilling outside the current resource envelope providing further upside potential.

Adavale is planning a follow-up drilling campaign to target these extensions and is also working on defining an Exploration Target to expand the mineralised footprint.

The London-Victoria Gold Mine sits within the Macquarie Arc of the Lachlan Fold Belt, a region renowned for world-class gold and copper deposits, further underscoring the project’s strategic significance.

With gold prices at historic highs and strong regional infrastructure, Adavale Resources is well-positioned to advance the London-Victoria project toward development and potential production.