Adavale Resources Targets Gold Resource Expansion with Strategic Drilling at London Victoria Mine
In a significant development for gold exploration in Australia's prolific Lachlan Fold Belt, Adavale Resources Limited (ASX:ADD) has announced a focused drilling program targeting resource expansion at its London Victoria Mine. With gold prices hovering at record highs above A$5,000 per ounce, the timing couldn't be better for the company's first systematic drilling campaign at the site in over three decades.
High-Priority Targets Set to Unlock Additional Gold Potential
Adavale has received approval for 10 RC drillholes, totaling up to 2,200 meters, with drilling expected to commence imminently. The program aims to expand the current JORC Inferred Mineral Resource Estimate of 3.14Mt at 1.06g/t Au for 107koz by targeting shallow extensions to known mineralisation.
What makes this drilling campaign particularly intriguing is its dual objective. While primarily focused on resource expansion, Adavale has designed an innovative drilling approach that could potentially uncover high-grade perpendicular structures similar to those found at the newly granted historical Koh-I-Nor mine located just 2.7km east of London Victoria.
"With our high priority targets now well-defined and the drilling program approved, Adavale is preparing for the commencement of its maiden drilling program this week," commented Allan Ritchie, Executive Chairman and CEO. "Adavale will be the first Company to undertake systematic resource extension drilling at the London Victoria Mine in more than 30 years at an opportune time with the gold price at a record high above A$5,000 per oz."
Strategic Drilling Approach Targets Previously Missed High-Grade Zones
One of the most compelling aspects of Adavale's approach is its recognition of a potential geological oversight in previous exploration efforts. Historical drilling at London Victoria was exclusively oriented east-west, perpendicular to the main north-south trending shear zone hosting the deposit.
However, the nearby Koh-I-Nor gold lode, which was historically mined at impressive grades up to 43.8g/t Au, features high-grade gold veins oriented east-west. These are interpreted as dilatational veins forming perpendicular to the regional Parkes Thrust.
Adavale's technical team has recognised that previous drilling likely missed these potential high-grade perpendicular structures. Their solution? A drilling program oriented partially oblique to the shear zone, maximising the chance of intersecting both the north-south trending shear and any east-west oriented, high-grade Koh-I-Nor style dilatational veins that may be present.
Understanding Dilatational Veins: The Key to High-Grade Gold Potential
For investors new to geological concepts, dilatational veins represent an important exploration target in gold mining. These structures form when geological forces create openings or "dilations" in rock, allowing mineral-rich fluids to flow in and deposit valuable metals like gold.
In the context of London Victoria, the east-west dilatational veins seen at Koh-I-Nor represent zones where immense geological pressure created perpendicular openings to the main north-south shear zone. These openings often become pressure traps for gold-bearing fluids, potentially creating concentrated zones of high-grade mineralisation.
The significance for investors is clear: identifying these dilatational structures could lead to the discovery of high-grade gold zones that would significantly enhance the project's economics. With historic mining at Koh-I-Nor reaching grades of 43.8g/t Au—over 40 times the current resource grade at London Victoria—the potential upside is substantial.
Parkes Project: Positioned in World-Class Gold-Copper Territory
Adavale's London Victoria Mine sits within the company's broader Parkes Project, which comprises five granted exploration licenses covering approximately 371.39 km² in the Macquarie Arc of the Lachlan Fold Belt—a true Tier-1 mining jurisdiction.
The strategic value of this location cannot be overstated. The region hosts world-class operations including:
- Cadia Ridgeway (35.1Moz Au & 7.9Mt Cu)
- Northparkes (5.2Moz Au & 4.4Mt Cu)
These neighbouring deposits demonstrate the exceptional mineral endowment of the region, with Northparkes located directly west of the Parkes Project.
Multiple Exploration Initiatives Underway
Beyond the immediate drilling program at London Victoria, Adavale is pursuing multiple exploration initiatives across the Parkes Project:
- Further geochemical survey planning, with Parkvale South becoming a high priority pending rock chip sampling results
- Development of an Exploration Target for London Victoria, outlining potential additional tonnage and grade beyond the current resource
- Reconnaissance visits planned for additional targets, including areas on No Mistake (EL8830), The Dish (EL9711), and the Northern Areas of Front Gate (EL8831)
Why Investors Should Take Note of Adavale Resources
For gold investors seeking exposure to explorers with near-term catalysts, Adavale Resources presents a compelling opportunity for several reasons:
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Strategic Location: Operating in Australia's prolific Lachlan Fold Belt, adjacent to world-class gold-copper operations
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Resource Growth Potential: Current 107koz gold resource with clear expansion opportunities through the upcoming drilling program
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High-Grade Discovery Potential: Innovative drilling approach targeting previously missed high-grade structures similar to the nearby Koh-I-Nor mine (43.8g/t Au)
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Market Timing: Exploration conducted during record gold prices above A$5,000/oz, maximising potential economic returns
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Diversified Portfolio: Beyond the Parkes Gold Project, Adavale holds prospective uranium tenements in South Australia and nickel projects along Tanzania's East African Nickel belt
The company's imminent drilling program represents a significant catalyst that could substantially enhance the value proposition of the London Victoria Mine. With drilling set to commence shortly and gold prices at historic highs, the coming months could prove transformative for Adavale Resources.
As the first company in three decades to undertake systematic resource extension drilling at London Victoria, Adavale is positioned to potentially unlock significant value from this historically productive mining district.
Want to Capitalise on Adavale's Gold Exploration Momentum?
With drilling about to commence at the London Victoria Mine and gold prices sitting at record highs above A$5,000 per ounce, now is the opportune time to discover Adavale Resources' full potential. Their innovative drilling approach could unlock previously missed high-grade gold structures in Australia's prolific Lachlan Fold Belt. For investors seeking exposure to gold explorers with near-term catalysts, visit Adavale's investor centre to access the latest announcements and position yourself for potential growth as they expand their 107koz gold resource.
