Adavale Resources Limited (ASX: ADD) has reached a milestone in the development of its Parkes (London-Victoria) project in New South Wales. The explorer has secured two key tenement packages: the grant of EL9918 and the successful transfer of EL9178. These moves provide the company with consolidated control over its flagship corridor, effectively removing previous tenure boundaries that had constrained exploration across the Ashes prospect and the southern extensions of the London-Victoria system.

Surface sampling conducted within the newly granted EL9918 has returned promising results, including high-grade assays of 9.2g/t Au, 4.5g/t Ag, and 660ppm Cu. These findings extend the known gold-copper-silver mineralization footprint at the Ashes prospect, providing clear, walk-up drill targets for the company to test as it moves into its next phase of operations.

"The 9.2g/t Au surface result strengthens the Ashes prospect and confirms high-grade gold-copper-silver mineralisation extends into the newly granted EL9918. The EL9178 transfer is equally important, it brings a highly prospective, largely untested corridor south of London-Victoria under Adavale's direct control, where surface soil geochemistry has defined multiple priority areas ready for modern exploration and a number of walk-up drill targets."

— David Ward, Managing Director

The acquisition fits within a broader belt-scale consolidation strategy, as the company seeks to integrate multiple contiguous tenements across the Lachlan Fold Belt. With these tenure constraints now resolved, the company plans to initiate an integrated interpretation of IP chargeability, resistivity, magnetics, and geochemical data. By evaluating the full target footprint without legal limitations, the explorer aims to refine drill targeting for the broader Ashes area. Simultaneously, the company is preparing for systematic exploration and further drill planning along the southern strike extension within EL9178 to identify potential repetitions of mineralized structures.

Read the full announcement: Walk-Up Drill Targets & 9.2g/t Au Surface Hit at Ashes