Striking Gold: Adavale Resources Finds High-Grade 22.2g/t Au in Rock Chip at Parkvale South
Adavale Resources (ASX:ADD) has uncovered exceptional gold values during recent reconnaissance work at its Parkes Project in NSW, with a rock chip sample returning an impressive 22.2g/t Au at the newly defined Parkvale South Prospect.
High-Grade Discovery Puts Parkvale South on the Map
Recent field exploration has yielded significant results across two prospects within Adavale's Parkes Project:
- Parkvale South Prospect: A newly identified area returning 22.2g/t Au in rock chip sample P24688
- Welcome Mine Prospect: Historical underground mine area yielding 1.61g/t Au and 0.647g/t Au in rock chips
The high-grade Parkvale South Prospect is particularly significant as it's located within a highly prospective structural zone showing evidence of magnetite destruction, likely hosted in Ordovician volcanic rocks. What makes this discovery more compelling is its geological similarity to Alkane Resources' (ASX:ALK) Tomingley Mine, which hosts a 1.5Mt gold resource.
"Adavale is continuing its systematic and methodical approach to target generation and prospect evaluation. The Parkvale South prospect is considered a prime target due to its geological setting being similar to Tomingley, which is now supported by an outstanding rock chip assay result of 22.2g/t Au," commented Executive Chairman and CEO Allan Ritchie.
Understanding Magnetite Destruction Zones: A Key to Gold Discovery
Magnetite destruction zones are critical indicators for gold explorers in the Lachlan Fold Belt. These zones represent areas where hydrothermal fluids have altered the original magnetite in the host rock, often creating ideal conditions for gold deposition.
The significance of the Parkvale South discovery lies in this geological fingerprint – a north-south trending kink zone showing clear evidence of magnetite destruction. These structural features often serve as pathways that allow mineral-rich fluids to move through the rock and deposit gold in concentrated areas.
When magnetite is destroyed through hydrothermal alteration, it creates a magnetic low that can be detected through geophysical surveys. Combined with the gold-bearing rock chips found at surface, this pattern suggests Adavale may have identified a significant structural conduit for gold mineralisation.
Systematic Exploration Approach Driving Adavale's Success
Adavale's exploration program is methodically building toward a maiden drilling program, with a clear progression of activities:
| Phase | Activity | Status/Timing |
|---|---|---|
| 1 | Desktop technical review | Completed |
| 2 | Field reconnaissance | In progress – yielding high-grade results |
| 3 | Soil geochemistry grid at Parkvale South | Planned for Q2 |
| 4 | Detailed magnetics and IP survey | Conditional on soil results |
| 5 | Maiden drilling program | Anticipated Q2 CY2025 |
Additional exploration is simultaneously progressing across multiple fronts:
- 279 grid-based soil samples and 19 rock chips from Ashes Myalls (assays pending)
- Development of an Exploration Target from the London-Victoria Mine (which already hosts a JORC 2012 Mineral Resource of 3.14Mt @ 1.06g/t Au for 107koz)
- Reconnaissance visits to additional targets including No Mistake and The Dish
The Parkes Project: Tier-1 Mining Jurisdiction with World-Class Neighbours
Adavale's Parkes Project comprises four granted exploration licenses covering 354.15 km² strategically positioned in the Macquarie Arc of the Lachlan Fold Belt – one of Australia's premier gold-copper provinces. This region hosts world-class operations including:
- Cadia Ridgeway: 35.1Moz Au & 7.9Mt Cu
- Northparkes: 5.2Moz Au & 4.4Mt Cu (adjacent and directly west of the Parkes Project)
The project's location within the crustal-scale Lachlan Transverse Zone (LTZ) is particularly significant as this major structural corridor hosts both Northparkes and the world-class Cadia gold-copper Mine.
Why Investors Should Track Adavale Resources
Adavale Resources presents a compelling investment case for several key reasons:
- High-grade discovery potential: The 22.2g/t Au rock chip result demonstrates significant gold potential at Parkvale South
- Strategic location: Positioned in the prolific Lachlan Fold Belt adjacent to world-class gold-copper mines
- Multiple catalysts approaching: Soil geochemistry, IP survey results, and a maiden drilling program in Q2 2025
- Diverse commodity exposure: Beyond the Parkes Gold-Copper Project, Adavale holds prospective uranium assets in South Australia and nickel prospects in Tanzania
Adavale's systematic exploration approach and strategic asset portfolio position it well among junior explorers on the ASX. With significant news flow expected from ongoing field work and an initial drilling campaign targeted for Q2 2025, investors should watch this space closely as Adavale continues to develop its prospective gold targets.
Want to Follow Adavale's Gold Exploration Journey?
To learn more about Adavale Resources' promising Parkvale South discovery with impressive 22.2g/t Au results and their systematic approach to gold exploration in NSW's mineral-rich Lachlan Fold Belt, visit their investor centre. Stay updated on their upcoming soil geochemistry program, exploration targets, and the anticipated maiden drilling campaign by accessing their latest announcements at Adavale's ASX Announcements page.
