Adavale Resources extends gold below London-Victoria open pit

• Results for further 14 holes continues to extend gold mineralisation beneath the historic open pit
• Each new section strengthens geological model ahead of updated MRE this quarter
• Each completed hole contributing to resource growth at London-Victoria
• Reinforces importance of project as central anchor of Adavale’s broader Parkes thrust gold system

Adavale Resources (ASX:ADD) has continued to extend the London-Victoria gold mine in the Lachlan Fold Belt of New South Wales with assays from a further 14 reverse circulation holes.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

Drilling has seen the mineralised corridor extended both north and south of London-Victoria across recently consolidated tenure, including southward toward the Calarie Mining Licence, currently hosting a combined 166,000 ounce gold mineral resource.

The new holes tested the central and southern parts of the pit area and continue to define the east-dipping gold-bearing shear zone, which remains open down dip below existing drilling.

Intersections have demonstrated continuity of narrower, higher-grade positions within the broader mineralised package, including 7.0m at 2.42 grams per tonne (g/t) gold from 147m and 4.0m at 1.83 g/t gold from 163m.

Results from further holes add supporting information in the southern-central part of the system, where multiple mineralised intervals at different depths are helping refine lode geometry for the planned mineral resource update.

Assay results reported to date from the current resource drillout are from reverse circulation drilling. This has allowed Adavale to rapidly build a consistent drill pattern across key sections of the 1.5km-long London-Victoria open pit and identify areas requiring closer-spaced or structurally focused follow-up.

Diamond drilling is being undertaken in parallel with the RC program. The company is currently drilling its third diamond hole, while two completed diamond holes have been logged and are awaiting cutting and assay. The core will provide structural information, support geological and resource interpretation, and provide material for metallurgical test work where appropriate.

“These results continue to demonstrate that gold mineralisation extends beneath the historic London- Victoria open pit, with every new hole adding to our understanding of the deposit,” MD, David Ward, said.

“With 72 RC holes and 3 diamond holes completed, we’re approaching a logical transition point ahead of an updated mineral resource estimate.

“London-Victoria will remain the key foundation for Adavale’s near-mine growth strategy, but the broader Parkes Thrust corridor, extending south through our recently consolidated tenure, is where the district-scale opportunity really opens up.”

The company is now awaiting results from a further 13 holes.

ADD was up 11.8% to 3.8¢. Mkt cap $11.39M.

Join the discussion: See what HotCopper users are saying about Adavale Resources and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.