High Conviction Phase 2 Drilling Underway at London-Vic
| Stock | Adavale Resources Ltd (ADD.ASX) |
|---|---|
| Release Time | 3 Dec 2025, 8:22 a.m. |
| Price Sensitive | Yes |
High Conviction Phase 2 Drilling Underway at London-Vic
- Second phase drilling has commenced at the London-Victoria Gold Mine
- Drilling program will test extensions beneath the southern part of the existing pit
- Follows highly successful maiden drill program, including 48m @ 0.82g/t Au from 133m
Adavale Resources has commenced a second phase of drilling at its London-Victoria Gold Mine, located within the company's Parkes Gold-Copper Project in the Lachlan Fold Belt of New South Wales. The drilling program will consist of approximately 10 holes for 2,300 metres of reverse circulation (RC) drilling, designed to test a series of high-conviction growth targets in the southern portion of the 1.5km long open pit. The program is aimed at evaluating extensions to mineralisation beneath the existing pits and following up on the first highly successful drilling program, which delivered the strongest gold intercept in 30 years, including 48m @ 0.82g/t Au from 133m (including 25m @ 1.2g/t Au from 144m). This mineralisation was extended approximately 100m below the pit floor and outside the current JORC Mineral Resource Estimate of 3.14Mt @ 1.06g/t Au for 107koz. The new drilling targets have been selected based on the recently completed 3D structural geology model, which has improved the geological understanding of the deposit and indicates that the mineralised sequence is folded and stacked, with the potential to repeat at depth and plunge to the south, materially increasing the scale and growth potential of the system. The drilling program will be directly overseen by recently appointed Managing Director David Ward, who has 30 years of industry experience and a proven track record of delivering value-driven exploration outcomes across the Lachlan Fold Belt.
The drilling program is scheduled to continue until 18 December 2025, with assays expected in January/February 2026, following which Adavale will consider commencing Phase 3 drilling. The company also has multiple ongoing exploration efforts across its broader Parkes Project, including further geochemical surveys, prospect reconnaissance, and a planned magnetic survey.