, a junior explorer focused on gold and copper in the Lachlan Fold Belt of New South Wales, is pleased to announce results from the final seven holes (1,476 m) of its Phase 2 drilling program at the London-Victoria Gold Mine (“London-Victoria”).){kind=link}
Adavale Resources Limited (Adavale), a junior explorer focused on gold and copper in the Lachlan Fold Belt of New South Wales, is pleased to announce results from the final seven holes (1,476 m) of its Phase 2 drilling program at the London-Victoria Gold Mine (“London-Victoria”).
The assays reinforce the strong resource growth potential of the London-Victoria system, confirming continuity of mineralization beneath the existing open pit and highlighting that the mineralized system remains open at depth, down plunge and along strike.
With Phase 2 drilling validating Adavale’s structural geology model and confirming the scale of the system, the Company has now commenced an expanded Phase 3 drilling program of an initial 6,000 meters to accelerate resource expansion.
Highlights from the final seven holes include:
- 28 m @ 1.53 g/t Au from 137 m (0.5 g/t Au cut-off) (ALRC019) including:
- 11 m @ 2.62 g/t Au from 141 m (2.0 g/t Au cut-off)
- 21 m @ 1.40 g/t Au from 162 m (0.5 g/t Au cut-off) (ALRC021) including:
- 5 m @ 2.33 g/t Au from 163 m; and
- 6 m @ 2.17 g/t Au from 172 m (1.0 g/t Au cut-off)
- 15 m @ 1.29 g/t Au from 174 m (0.5 g/t Au cut-off) (ALRC026) including:
- 5 m @ 1.47 g/t Au from 175 m; and
- 1 m @ 6.53 g/t Au from 185 m (1.0 g/t Au cut-off)
- 20 m @ 1.26 g/t Au from 102 m (0.5 g/t Au cut-off) (ALRC023) including:
- 14 m @ 1.62 g/t Au from 108 m (1.0 g/t Au cut-off)
The program also successfully validated the Company’s mineralization model and controls, following up the previously reported result from ALRC014 of 48 m @ 0.82 g/t Au from 133 m, including 25 m @ 1.2 g/t Au from 144 m.
Adavale Resources Managing Director, Mr. David Ward, commented: “Phase 2 drilling delivered strong continuity of gold mineralization beneath the pit and, critically, validated the Company’s structural geology model. The program tested just ∼150 m of strike with holes spaced at approximately 25 m – representing only 10 % of the 1.5 km open pit length. These results provide strong confidence to expand the Phase 3 drilling program, targeting the substantial known strike of mineralization immediately below the existing pit floor.”
Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “Phase 2 drilling has demonstrated the scale of London-Victoria, giving us the confidence to accelerate resource growth with an expanded Phase 3 program now underway. Combined with the overwhelming support from our investors in the recent $5.15 million placement, the Company is exceptionally well positioned to grow the resource base and further advance our Brownfields near-term production opportunity at our London-Victoria Gold Mine.”
The Company noted that several of the latest drill results are located outside the existing MRE, including holes ALRC019, ALRC021, ALRC023 and ALRC026. The Company believes these results will support a substantial increase in an updated MRE as drilling continues to extend mineralization beneath the pit.
In addition to drilling, Adavale plans to undertake pXRF-based geochemical logging to refine lithological and geochemical discrimination, while incorporating new structural data to continually refine the geological and resource model.
A drone magnetic survey is also planned for March 2026 to further investigate the emerging magnetics versus gold association, with the goal of extrapolating the mineralization signature into adjacent exploration areas.
Source:
Adavale Resources Limited