Adavale Resources Kicks Off Maiden Drilling Program at London Victoria Gold Mine
Adavale Resources (ASX:ADD) has commenced its maiden drilling program at the London Victoria Gold Mine, marking a significant milestone in the company's gold exploration strategy within the Lachlan Fold Belt of New South Wales.
Drilling Program Targets Resource Expansion at London Victoria
Specialist RC drilling contractor DRILLIT has mobilised to the London Victoria Gold Mine to undertake Adavale's 10-hole, 2,200-meter maiden drilling program. The program is strategically targeting shallow extensions to known gold mineralisation with the primary objective of expanding the current JORC Inferred Mineral Resource Estimate of 3.14 million tonnes at 1.06 g/t gold for 107,000 ounces.
A secondary objective of the drilling campaign is to test for perpendicular dilation veins similar to those found at the newly granted high-grade historical Koh-I-Nor mine located 2.7km east of London Victoria. Historical mining at Koh-I-Nor produced gold at impressive grades of up to 43.8 g/t.
"The maiden drilling program at London Victoria is a significant milestone, marking the first gold-focused drilling program to be conducted by Adavale at its Parkes Project which was only acquired in January 2025," said Executive Chairman and CEO Allan Ritchie.
The drilling is expected to take approximately two weeks, with samples to be dispatched to the ALS laboratory in Orange for assay.
Parkes Project: A Strategic Position in a World-Class Mining Region
Adavale's Parkes Project comprises five granted exploration licenses covering approximately 371 square kilometers within the Macquarie Arc of the Lachlan Fold Belt—a Tier-1 mining jurisdiction known for hosting world-class operations.
The project area is strategically positioned adjacent to the giant Northparkes copper-gold mine and encompasses Ordovician-aged rocks of the Macquarie Arc within the crustal-scale structure of the Lachlan Transverse Zone (LTZ). This geological setting is similar to that containing both Northparkes and the world-class Cadia gold-copper Mine, which hosts an impressive 35.1 million ounces of gold and 7.9 million tonnes of copper.
| World-Class Operations Near Parkes Project | Gold Resources | Copper Resources |
|---|---|---|
| Cadia Ridgeway | 35.1 Moz | 7.9 Mt |
| Northparkes | 5.2 Moz | 4.4 Mt |
What Makes a JORC Resource Important for Investors
For investors new to mining exploration, a JORC Resource is a critical milestone in establishing the economic potential of a mineral deposit. JORC (Joint Ore Reserves Committee) compliance means the resource estimate adheres to the Australian industry standard for reporting exploration results, mineral resources, and ore reserves.
An Inferred Resource, which is what Adavale currently has at London Victoria, indicates a reasonable level of geological confidence and grade continuity, though with lower confidence than Indicated or Measured resources. Importantly, it represents a significant step toward potentially defining an economically viable mining operation.
When exploration companies like Adavale target expansions to existing JORC resources, they aim to increase both the tonnage and potentially the grade of the deposit, enhancing the project's overall economic potential and attractiveness to investors.
Understanding Mineral Resource Classifications
Mineral resources are classified according to increasing levels of geological confidence:
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Inferred Resources: Estimated with a lower level of confidence, based on limited geological evidence and sampling.
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Indicated Resources: Estimated with a reasonable level of confidence, based on adequately detailed and reliable exploration, sampling, and testing.
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Measured Resources: Estimated with a high level of confidence, based on detailed and reliable exploration, sampling, and testing information.
As exploration progresses, resources may be reclassified into higher confidence categories, potentially increasing the value of the project. Adavale's current drilling program aims to both expand and potentially upgrade portions of the London Victoria resource.
Future Plans and Upcoming Catalysts
Adavale is pursuing multiple concurrent exploration initiatives at the Parkes Project:
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Exploration Target Definition: Following the recent JORC 2012 Inferred Mineral Resource Estimate, the company plans to outline potential additional tonnage and grade outside the current resource area
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Geochemical Survey Planning: Identification of future targets for geochemical work, with Parkvale South becoming a high priority pending results from further rock chip sampling
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Additional Prospect Reconnaissance: Planned visits to new targets including areas on No Mistake (EL8830), initial reconnaissance of The Dish (EL9711), and exploration of Northern Areas of Front Gate (EL8831)
These parallel work streams create multiple potential catalysts for Adavale in the coming months, with each program capable of generating significant value-adding results.
Adavale's Diversified Portfolio Offers Multiple Opportunities
Beyond the Parkes Project, Adavale maintains a diversified exploration portfolio across multiple commodities and jurisdictions:
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South Australian Uranium Portfolio: 11 granted exploration licenses prospective for sedimentary uranium in the northern outwash from the Flinders Ranges, plus four exploration license applications east of Ceduna on the Eyre Peninsula, totaling 4,959 square kilometers
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Kabanga Jirani Nickel Project: 13 highly prospective granted licenses along the East African Nickel belt in Tanzania, covering 1,315 square kilometers, with nine licenses proximal to the world-class Kabanga Nickel Deposit (87.6Mt @ 2.63% Ni Eq)
This diversification across gold, copper, uranium, and nickel provides Adavale with exposure to multiple commodity cycles and reduces single-project risk for investors.
Technical Analysis of London Victoria's Geological Setting
The London Victoria Gold Mine is situated within the Lachlan Fold Belt, one of Australia's premier metallogenic provinces. The mineralisation at London Victoria occurs in three distinct boudins—geological structures formed when layers of rock are stretched and deformed.
The current maiden drilling program targets extensions to these boudins at shallow depths, which presents a cost-effective exploration opportunity with potential for near-term resource growth. Additionally, the program will test for perpendicular dilation veins, which are often associated with high-grade gold deposits similar to those found at the nearby Koh-I-Nor mine.
Geologically, dilation veins form in areas where rock fracturing creates void spaces that are subsequently filled with mineral-rich fluids. These structures can host concentrated gold mineralisation and represent high-priority targets for explorers seeking to identify high-grade zones within a broader mineralised system.
Why Investors Should Follow Adavale Resources
Adavale Resources represents a compelling opportunity for investors interested in junior mining exploration for several key reasons:
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Strategic Asset Location: The Parkes Project is positioned in a world-class mining region adjacent to major producing mines, significantly reducing exploration risk
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Resource Growth Potential: With an existing JORC resource and a targeted drilling program underway, there's clear potential for resource expansion at London Victoria
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Multiple Near-term Catalysts: The company has several parallel work programs that could deliver market-moving results in the coming months
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Commodity Diversification: Exposure to gold, copper, uranium, and nickel provides a natural hedge against commodity price fluctuations
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Experienced Management: Led by Executive Chairman and CEO Allan Ritchie, the team has demonstrated an ability to move quickly, having acquired the Parkes Project in January 2025 and progressed to drilling within six months
With the maiden drilling program now underway at London Victoria and multiple exploration initiatives advancing concurrently, Adavale is positioned at an inflection point where successful results could significantly enhance the company's valuation and create substantial shareholder value.
Ready to Discover Adavale's Gold Potential?
Eager to learn more about Adavale Resources' promising gold exploration at London Victoria and their diversified portfolio spanning gold, copper, uranium and nickel? Visit their investor centre for the latest announcements and updates on their maiden drilling programme in the world-class Lachlan Fold Belt. As drilling results emerge in the coming weeks, now is the perfect time to follow Adavale's journey towards potentially expanding their 107,000-ounce gold resource.
