Adavale Targets Gold Resource Growth with New Drilling at London Victoria
Adavale Resources has secured approval for a 10-hole drilling program at its London Victoria Mine, aiming to expand its gold resource and explore high-grade vein structures. This marks the first systematic drilling at the site in over three decades.
- Approval granted for 10 reverse circulation drillholes totaling 2,200 meters
- Focus on extending known gold mineralisation and testing for high-grade veins
- Current JORC Inferred Resource stands at 3.14 million tonnes at 1.06 g/t gold
- Drilling to commence shortly with contractor appointed
- Additional exploration planned across Parkes Project tenements
Renewed Focus on London Victoria
Adavale Resources Limited (ASX – ADD) is poised to embark on a significant drilling campaign at its London Victoria Mine in New South Wales, marking the first systematic resource extension drilling at the site in more than 30 years. The company has received approval to drill 10 reverse circulation holes, totaling up to 2,200 meters, targeting shallow extensions of known gold mineralisation.
The London Victoria deposit currently holds a JORC Inferred Mineral Resource Estimate of 3.14 million tonnes at 1.06 grams per tonne gold, equating to approximately 107,000 ounces. The upcoming drilling program aims to increase this resource base by exploring both along strike and at depth, potentially adding significant ounces to the inventory.
Exploring High-Grade Potential
Beyond resource extension, Adavale is also targeting high-grade structures analogous to those found at the nearby Koh-I-Nor mine, located just 2.7 kilometers east of London Victoria. Koh-I-Nor is historically noted for gold grades reaching as high as 43.8 grams per tonne, hosted in east-west oriented veins that are perpendicular to the main north-south shear zone at London Victoria.
Previous drilling at London Victoria was oriented east-west, which may have missed these perpendicular high-grade veins. Adavale’s new drilling approach is designed to intersect both the north-south trending shear zones and potential east-west dilatational veins, increasing the chance of discovering richer mineralisation.
Strategic Timing and Broader Exploration Plans
Executive Chairman and CEO Allan Ritchie highlighted the strategic timing of the drilling program, noting the gold price is currently at record highs above A$5,000 per ounce. This environment enhances the potential economic viability of any new discoveries or resource expansions.
In addition to the London Victoria drilling, Adavale is advancing multiple exploration initiatives across its Parkes Project tenements, including further geochemical surveys and reconnaissance of other prospective targets such as Parkvale South, No Mistake, The Dish, and Front Gate. These efforts underscore the company’s commitment to unlocking value across its portfolio in the Lachlan Fold Belt, a region renowned for world-class gold and copper deposits.
Looking Ahead
The drilling contractor has been appointed, and operations are expected to commence imminently. Investors and analysts will be watching closely for assay results that could confirm extensions to the resource and the presence of high-grade veins, which would materially enhance the project’s value proposition.
Bottom Line?
Adavale’s maiden drilling at London Victoria could redefine the project’s resource potential amid a buoyant gold market.
Questions in the middle?
- Will the drilling confirm extensions to the current JORC Inferred Mineral Resource?
- Are high-grade perpendicular veins similar to Koh-I-Nor present at London Victoria?
- How will assay results influence Adavale’s exploration strategy across the broader Parkes Project?
