Adavale Resources Announces Significant Gold Discovery at London-Victoria
Key points
- Assays from 5 drillholes return 19m @ 4.0g/t Au
- High-grade intersection lies outside existing Mineral Resource Estimate
- Broad gold intersections continue below existing open pit
Full summary
Adavale Resources Ltd has reported exceptional assay results from the London-Victoria Gold Mine, with an intercept of 19m @ 4.0g/t Au, including 1m @ 52.6g/t Au. This high-grade intersection lies well outside the existing 115koz Mineral Resource Estimate (MRE) and demonstrates the potential for further expansion of the resource. The current MRE, based on historical drilling, does not include any of the 85 drillholes completed by Adavale. With assay results from only five holes remaining, the company is approaching the point where the expanded drilling dataset can be incorporated into an updated geological model and MRE. The upcoming MRE is expected to provide a comprehensive measure of the impact of Adavale's drilling program.
Guidance
Expect completion of updated Mineral Resource Estimate by Q3 CY26
Outlook
The updated Mineral Resource Estimate is expected to significantly expand the known gold resources at London-Victoria, potentially enhancing the project's economic viability.
Summary generated by a large language model. Please interpret with care.