London Victoria Drilling Success: Adavale Resources Completes Maiden Campaign at Historic Gold Mine
First Drilling in 28 Years Targets Resource Expansion
Adavale Resources (ASX:ADD) has successfully completed its maiden drilling program at the London Victoria Gold Mine, marking the first standalone drilling campaign at the project in nearly three decades. The campaign comprised 14 reverse circulation (RC) holes totaling 2,060 meters, with all holes successfully intersecting the targeted shear zone.
The program is a significant milestone in Adavale's strategic shift to become a focused gold explorer and potential developer in the prolific Lachlan Fold Belt of New South Wales, a tier-1 mining jurisdiction that hosts world-class operations including Cadia Ridgeway (35.1Moz Au & 7.9Mt Cu) and Northparkes (5.2Moz Au & 4.4Mt Cu).
Nine holes were strategically positioned on the eastern flank and along the southern strike of the existing pit, while five additional holes were drilled from within the pit itself. All samples have been dispatched to Onsite Laboratory Services in Bendigo for analysis, with the first batch confirmed received.
"The completion of the maiden drilling campaign at London Victoria is a milestone, not just for the Project but for the Company alike. This marks the first standalone drilling campaign at the Project for 28 years and solidifies the transformation of Adavale to a gold explorer and potential developer," said Allan Ritchie, Executive Chairman and CEO of Adavale Resources.
"Successfully completing the program without incident, on time, within budget and having intersected the target shear zone is a testament to Adavale's exploration team."
Targeting Resource Growth Beyond Current 115,000oz Gold Estimate
The primary objective of this initial drilling program is to expand and potentially upgrade the current JORC Inferred Mineral Resource Estimate (MRE) of 115,000 ounces of gold, which includes a higher-grade component of 3.14 million tonnes at 1.06 g/t gold for 107,000 ounces.
To complement the drilling program, Groundsearch has mobilised to the site to conduct downhole optical televiewer logging of select holes. This advanced technology will provide detailed structural imaging to better understand and define the controls of mineralisation at London Victoria.
The combination of assay results and structural review will guide Adavale's future exploration activities at the mine, with results expected to be released to the market as soon as they are received.
Understanding Downhole Televiewer Technology
What is Downhole Televiewer Logging?
Downhole televiewer logging is an advanced geophysical technique that provides high-resolution, oriented images of the borehole wall. The optical televiewer (OTV) uses a digital camera to capture detailed images of the borehole wall in visible light, creating a continuous, 360-degree unwrapped image.
For investors, this technology is significant because it allows geologists to:
- Identify and measure geological structures such as fractures, faults, and veins
- Determine the orientation of these structures in 3D space
- Distinguish between natural and drilling-induced features
- Better understand the structural controls of mineralisation
This detailed structural information is particularly valuable in gold deposits where mineralisation often follows specific structural features. By understanding these controls, Adavale can target future drilling more effectively, potentially leading to more efficient resource expansion and higher success rates in subsequent drilling campaigns.
Multiple Exploration Activities Advancing Simultaneously
Adavale is conducting several concurrent exploration efforts across its Parkes Project, including:
| Activity | Description | Timeline |
|---|---|---|
| Exploration Target | Development of exploration targets from London-Victoria, outlining potential additional tonnage and grade outside the current MRE area | Ongoing |
| Geochemical Survey Planning | Identification of future targets for geochemical work, with Parkvale South becoming a high priority depending on further rock chip sampling results | Planning phase |
| Additional Prospect Reconnaissance | Planned visits to additional targets including areas on No Mistake (EL8830), The Dish (EL9711), and Northern Areas of Front Gate (EL8831) | Planning phase |
Investment Thesis: Strategic Position in a World-Class Gold-Copper Belt
Adavale Resources offers investors exposure to a company strategically positioned within the Macquarie Arc of the Lachlan Fold Belt, a globally significant gold and copper province. The company's Parkes Project, comprising five granted exploration licenses covering approximately 371 square kilometres, sits adjacent to the Northparkes copper-gold mine and encompasses the Ordovician-aged rocks of the Macquarie Arc.
This geological setting is comparable to those hosting multi-million-ounce gold and copper deposits in the region. The London Victoria drilling success represents a near-term opportunity to potentially expand the existing 115,000-ounce gold resource, providing a solid foundation for growth.
Beyond the Parkes Project, Adavale maintains a diversified portfolio with:
- A uranium exploration portfolio in South Australia comprising 11 granted exploration licenses covering 4,959 square kilometres
- The Kabanga Jirani Nickel Project in Tanzania with 13 highly prospective licenses spanning 1,315 square kilometres along the East African Nickel belt, proximal to the world-class Kabanga Nickel Deposit (87.6Mt @ 2.63% Ni Eq)
Why Investors Should Track Adavale Resources
Adavale Resources presents a compelling opportunity for investors interested in junior explorers with near-term growth potential. Key reasons to follow the company include:
- Strategic Location: Operating in the prolific Lachlan Fold Belt, home to world-class gold-copper operations including Cadia Ridgeway and Northparkes
- Resource Growth Potential: The maiden drilling program at London Victoria targets expansion of the existing 115,000-ounce gold resource
- Diversified Portfolio: Beyond gold and copper in NSW, the company maintains uranium interests in South Australia and nickel exploration in Tanzania
- Technical Approach: Utilising advanced technologies like downhole televiewer logging demonstrates a sophisticated approach to exploration
- Multiple Catalysts: Pending assay results, structural reviews, and ongoing exploration activities provide numerous potential value-driving events
With the successful completion of its maiden drilling program at London Victoria and samples already submitted for analysis, Adavale is positioned for a series of news-driven catalysts in the coming months as results are received and interpreted. For investors seeking exposure to gold exploration in a tier-1 jurisdiction with near-term resource growth potential, Adavale Resources warrants close attention.
Ready to Explore Adavale's Gold Potential?
Discover how Adavale Resources is advancing its strategic position in the world-class Lachlan Fold Belt with its successful London Victoria drilling campaign. For investors seeking exposure to near-term gold resource growth in a tier-1 jurisdiction, along with diversified assets across uranium and nickel, now is the time to learn more. Visit Adavale's ASX announcements page to stay updated on assay results and upcoming catalysts that could drive significant value for this emerging gold explorer.
