‘Bonanza grades’ extend Adavale’s London-Victoria gold system

A likely resource boost to the south of the main focus area of the London-Victoria shear zone is building momentum for Adavale Resources, with gold grades of up to 245g/t confirmed at Victoria South.

• Thick, shallow finds interpreted as direct extension of the existing 115koz gold resource

• ‘Bonanza grade’ intercept of 1m @ 245.5g/t Au from 22m a highlight of multiple intercepts

• Significant extension to London-Victoria operations within immediate mine corridor

The company’s review of near-mine drillhole datasets has confirmed a “bonanza-grade” opportunity for a southern extension of the London-Victoria mineralised system.

The confirmation of shallow gold mineralisation at Victoria South represents a significant near-mine growth opportunity, located directly along strike from the existing 115koz resource. 

Well-positioned to support rapid conversion through follow-up drilling, the location along the interpreted London–Victoria shear zone is within the immediate corridor.

“With multiple workstreams advancing in parallel, we are rapidly building scale at London–Victoria while continuing to unlock new opportunities across the broader project,” Adavale Resources’ (ASX:ADD) executive chairman and chief executive Allan Ritchie said.

“Results from the Victoria South prospect reinforce the strong momentum building across the Parkes copper-gold project, with shallow high-grade results including a bonanza grade intercept of 1m @ 245.5g/t Au from 22m highlighting the quality of mineralisation emerging along strike,” Ritchie said.

Still a long-standing safe haven, gold prices have rallied following the announcement of a ceasefire in the Middle East, as that lessens the risk of rate hikes.

Refining targets

Extensive historic mining and exploration focused along the London-Victoria corridor but the surface data has identified a coherent gold anomaly at the Victoria South prospect, located immediately south of the existing open pit.

“Victoria South represents a priority near-mine opportunity with potential to deliver additional shallow ounces to support ongoing mineral resource growth,” Ward said.

Extending high-resolution drone magnetic surveys into this area is expected to further refine structural interpretations and support drill targeting.

“The validation of historical drilling at Victoria South confirms the opportunity for a southern extension of the London-Victoria mineralised system, with multiple shallow, high-grade intercepts supporting strong continuity along strike,” ADD managing director David Ward said.

“The prospect fits directly within our evolving structural model, and with drone magnetics extending into this area, we are well positioned to refine targets in advance of drilling,” he said. 

Importantly, Victoria South straddles the boundary between Exploration Licence EL4945 and the London-Victoria Mining Lease (ML1215), which had limited follow-up drilling where mineralisation extended into ground held by BHP Gold. 

With these tenure constraints now removed and the area consolidated under Adavale’s EL7242, this dataset has been integrated into the company’s drillhole database for the first time.