Adavale Resources Limited (ASX: ADD) has reported new assay results from its systematic drill program at the Parkes (London-Victoria) project in New South Wales. The company received data from 14 reverse circulation holes, totaling 2,860 meters, which continue to define the east-dipping gold-bearing shear zone beneath the historic 1.5km-long open pit. These latest intercepts confirm that gold mineralisation remains open at depth, providing essential geological data for an updated Mineral Resource Estimate scheduled for completion this quarter.

Key findings include 7m at 2.42g/t gold from 147m in hole ALRC045, along with 5m at 1.95g/t gold from 175m in ALRC055. While earlier exploration this year targeted bonanza grades reaching up to 245g/t, the current drill results demonstrate a shift toward identifying broader, more consistent mineralized intervals. This systematic approach is designed to refine the geometry of the lode system to better support long-term resource modeling and future development plans for the project.

"These results continue to demonstrate that gold mineralisation extends beneath the historic London-Victoria open pit, with every new hole adding to our understanding of the deposit. With 72 RC holes and 3 diamond holes completed, we're approaching a logical transition point ahead of an updated Mineral Resource Estimate. London-Victoria will remain the key foundation for Adavale's near-mine growth strategy, but the broader Parkes Thrust corridor, extending south through our recently consolidated tenure, is where the district-scale opportunity really opens up."

— David Ward, Managing Director

The London-Victoria project serves as the central anchor for the company's wider activity along the Parkes Thrust gold system. Adavale recently consolidated its tenure in the area, extending its footprint south toward the Calarie Mining Licence, which already hosts a 166koz gold mineral resource. To further bolster its regional position, the company’s partner, Caadia Metals Pty Ltd, recently staked three new exploration and mining title applications in the immediate area.

Two drill rigs currently remain active on-site. The company has already submitted an additional 13 holes for laboratory analysis and expects to release those results in the coming weeks. While the reverse circulation program focuses on rapid identification of the mineralized corridor, the company is running parallel diamond drilling to capture essential structural and metallurgical information. This data will be integrated into the upcoming resource update, providing a clearer picture of the project's economic potential as the explorer pivots toward defining the scale of the broader mineralized system. By connecting the historic pits with its newly expanded tenure, the company aims to establish a cohesive development profile across this well-known gold corridor within the Lachlan Fold Belt.

Read the full announcement: Adavale Extends Gold Below 1.5km London-Victoria Open Pit