RIU Sydney Investor Presentation
Released
Released
Announcement PDF
Targeting Gold and Copper in the
Tier-1 Lachlan Fold Belt, NSW
INVESTOR PRESENTATION
ASX: ADD
May 2025
Important Notice & Disclaimer
ASX: ADD
This presentation has been prepared by Adavale Resources Ltd (ASX:ADD).This presentation contains background information about ADD current at the date of this presentation. The presentation is in summary form, has not been
independently verified and does not purport be all inclusive or complete nor does it contain all the information that a prospective investor may require in evaluating a possible investment in ADD or its assets.
Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. All securities
transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. Recipients of this presentation who decide to invest in ADD do so at their own risk.
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of securities in any jurisdiction. This
presentation is not a prospectus and does not contain all of the information which would be required to be disclosed in a prospectus. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements
applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This presentation does not constitute
investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent
recommendations of particular investments to particular persons. Recipients should seek their own professional, legal, tax, business and/ or financial advice when deciding if an investment is appropriate.
To the fullest extent permitted by law, ADD and its related bodies corporate, its directors, officers, employees and representatives (including its agents and advisers), disclaim all liability, take no responsibility for any part of this presentation, or
for any errors in or omissions from this presentation arising out of negligence or otherwise and do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information,
statements, opinions, estimates, forecasts, conclusions or other representations contained in this presentation.
This presentation contains forward looking statements concerning Adavale. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking
statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the
Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional
funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this
presentation are based on Adavale’s beliefs, opinions and estimates of Adavale as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and
estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance
that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to
be materially from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of nickel, the actual results of future
exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the
events expressed or implied in any forward- looking statements in this presentation will actually occur.
Competent Person Statement
The information in this announcement that relates to Exploration Targets, Exploration Results is based on information compiled by Barry Willott, who is a Member of The Australian Institute of Geoscientists (AIG) and The Australasian Institute of
Mining and Metallurgy (AusIMM). Barry Willott has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the
2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Barry Willott consents to the inclusion in the presentation of the matters based on his information in the form and context in
which it appears.
The information in this report that relates to Mineral Resources at the London-Victoria deposit in NSW is based on information compiled by Mark Berry, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mark is
employed by Derisk Geomining Consultants Pty Ltd, is independent of Adavale Resources Limited and Agricultural Equity Investments Pty Ltd, and has no conflict of interest in accepting Competent Person responsibility for the relevant content
in this report. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mark consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
Information on the Mineral Resources presented on the London-Victoria deposit is contained in the ASX announcement dated 5 May 2025. Where the Company refers to Mineral Resource in this presentation, it confirms that it is not aware of
any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply
and have not materially changed. The Company confirms that the form and context their with JORC Table 1 in which the Competent Person’s findings are presented have not materially changed from the original announcement.
2
Refer to ASX announcements dated 26 February 2025 (High-Grade Gold, Copper and Silver Rock Chips at Ashes) and 7 May 2025 (IP Study Generates High Conviction Target at Ashes). The Company confirms that it is not aware of any new
information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially
modified from the original market announcement.
Parkes Project - Investment Highlights
1
Transformational Acquisition
●
All-Scrip Acquisition of the Parkes Project at $900k. Same vendor
as the Spur project for Waratah Minerals (ASX:WTM).
●
A Total Area of 354.15 km² spanning Four (4) Exploration Licences
(EL’s) – including the licence with the historic London-Victoria Mine.
●
In the Lachlan Transverse Zone (“ LTZ”) and Adjacent to
Northparkes (ASX:EVN) and along the zone from Cadia Mines
(ASX:NEM), great location with no vacancies nearby.
2
A Tier-1 Jurisdiction – The Lachlan Fold Belt (NSW)
●
Produced 80Moz Au & 13Mt Cu AND 160Moz AuEq in Resource
Endowment.
●
$16B of M&A within the Majors & $300M in working with Juniors.
●
Proven corridor of the Macquarie Arc, highly prospective for
orogenic, epithermal and porphyry-style Au-Cu systems
3
ASX: ADD
Advancing Rapidly at key Prospects
●
Multiple site visits, with high-grade rockchip / geochem surveys
complete.
●
Successful Maiden JORC (2012) at London-Victoria Mine
●
Ontrack for planning Maiden drill program in Q2, with 9 RC/DD drill
holes permitted.
The Lachlan Fold Belt, including Macquarie Arc Volcanics with associated Au & Cu mines and deposits nearby.
“Giants Working with Juniors” in the Lachlan Fold Belt
Over $300M in Exploration Earn-ins/JVs with Junior Explorer
●
●
●
●
●
●
●
●
●
AngloGold up to A$145m earn-in deal with Inflection Resources
AngloGold up to A$110m earn-in deal with Kincora
FMG up to A$14m earn-in deal in the Junee-Narromine, incl farm-in with
Magmatic for Myall project + equity investment
Legacy up to A$6m deal with S2 for Glenlogan porphyry project
Gold Fields up to A$75m option/JV deals with Gold & Copper
Newmont up to $15m earn-in deal with Legacy Minerals
Earth AI commit A$4.5m to each of Legacy & Kincora
Fleet Space multiple ANT surveys across the district with investment of
A$1.27m into Legacy & A$0.35m in Kincora
Alkane and Mandalay merger of equals
Other exciting news for Junior Explorers
●
●
●
●
Waratah buys Cargo/Spur project: 5-6x re-rating on drilling
DevEx sells NSW portfolio for $7.5m +2% NSR
AGC’s new Achilles discovery and a re-rating
Talisman pegging + new discoveries
Majors Injecting ~$16B in M&A for Mines / Advanced Projects
●
●
●
Newmont buys Newcrest (flagship Cadia)
Metals Acquisition buys the CSA mine (A$1.3b)
○ Oversubscribed ASX listing re-rating
Evolution buys 80% of Northparkes (A$720m)
○ 10% of acquisition price already repaid within 6 mths
○ Evolution post buying Cowal: > 3x the resource (175,000m program
ongoing) and expands production > 2x
○ Evolution consolidates ground around Cowal
ASX: ADD
London-Victoria Maiden JORC (EL7242)
London-Victoria (EL7242)
●
Located 20km South of
Northparkes Mine (ASX:EVN).
●
Historic London-Victoria Gold
Mine:
●
○
Produced c.155koz Au via
open-pit mining at ~2g/t
along 1.6km of strike, with
higher-grade lodes, up until
1998.
○
Operators include BHP Gold
and Hargraves
Several processing plants in the
region hungry for feed stock.
ADD has recently received an independent
JORC (2012) MRE for London-Victoria
deposit of 115,000oz Au defined at the
London-Victoria Gold Project. Within this
estimate there is a higher grade mineralised
total of:
5
3.14Mt at 1.06g/t Au for 107,000oz
ASX: ADD
London-Victoria Mine (EL7242) Resource extension potential
High grade mineralisation at
depth
1
Broader mineralisation outside
of conceptual pit
Infill potential
2
Delineation of exploration
target now underway
With further historic
information, a considerable
proportion could be converted
to an Indicated Resource.
3
West-east section w/ drill holes, resource model, existingn pit and conceptual pit for reporting.
ASX: ADD
Front Gate (EL8831)
Ashes & Myalls Prospects – Early Work Completed
High-priority copper-gold targets have been identified at
EL8831 (located ~12km East of Northparkes Mine).
Advancing Swiftly at Ashes & Myalls Prospects
●
Land Access Secured
Full access now in place across both prospects.
●
Geochemical Survey Completed
Systematic grid-based program covering ~5km2
●
Rock Chip Sampling – High-Grade Results
New sample results have confirmed prospectivity of historic results
●
Prospect Mapping & Target Definition
Outcropping Ordovician volcanics mapped, and anomalies coincident with historical IP
indicators
7
ASX: ADD
Ashes & Myalls Prospects – Confirmed High Grade Au, Cu & Ag Rock Chips
Adavale Resources’ Assays (Feb 2025)
●
10.65 g/t Au, 1.98% Cu & 158 g/t Ag (P24669)
●
7.95 g/t Au, 2.2% Cu & 96.4 g/t Ag (P24654)
●
0.74 g/t Au, 0.76% Cu & 58.9 g/t Ag (P24651)
Historic High-Grade Rock Chips
8
●
8.8g/t Au & 19.2 g/t Ag - RCNPE12
●
5.5% Cu & 13.3 g/t Ag - RCNPE02
●
1.5g/t Au, 84g/t Ag and 2.1% Cu - RCNPE14
ASX: ADD
Ashes & Myalls Prospects – Rock Chip Sampling & Grid-based Geochemical Survey
Systematic and swift exploration
9
●
Systematic grid-based soil sampling program following
up historical rock chip up to 0.86% Cu and 0.91g/t Au
at Myalls and fresh assays from Ashes includes:
o
10.65 g/t Au, 1.98% Cu & 158 g/t Ag
●
Modern exploration techniques including use of swift
and low cost pathfinder element geochemistry,
improving upon historic exploration which has been ad
hoc and with little drilling
●
Replicating this geochemical survey technique across
abundant other prospects to generate targets
●
Adopting a more regional conceptually based
exploration approach to identify and prioritise the best
areas for early drill testing
●
Reprocessed Historic IP Survey has shown main
target was likely missed and remains untested
ASX: ADD
Ashes Prospect – Induced Polarisation (IP) Survey
ASX: ADD
Potential Walk-Up Drill Target
Reprocessed Data by Mitre Geophysics (April 2025)
Previous Drilling by Meridian (2009) and AngloGold Ashanti (2015)
Immediate opportunity for Adavale to step back to the
east and target an RC/diamond drill hole into the central
core of the chargeability anomaly.
•
3D view of 2D inverted chargeability sections looking
from the NW to the SE. Drill traces coloured by Cu
(ppm).
•
Meridian RC drill holes ASH09-01 and ASH09-02
based on the initial modelling were either not deep
enough or missed the chargeability anomaly; also
targeted a much weaker anomaly to the south.
•
AngloGold Ashanti diamond drill hole DND001 clips the
edge of the main chargeability anomaly on the
northernmost line but does not intersect the higher
chargeability core of the anomaly.
•
Further scope to extend IP surveying on lines north of
the currently known chargeability anomaly to
potentially extend the target zone along strike.
ASH0901 ASH0902
DND001
Abundant Gold & Copper Prospects
in the Tier-1 Lachlan Fold Belt (NSW)
FRONT GATE (EL8831)
Gold & Copper Targets Located in Fertile Ordovician Aged
FRONT GATE LICENCE (EL8831)
•
Corner Prospect (EL 8831 North)
•
•
RAB drilling magnetic anomalies through cover hit 2m @ 1.73g/t Au, in a dacite dyke; probable
epithermal mineralisation style.
Central Prospect (EL 8831 North)
•
•
Magnetite-veined lithic tuff where historical RAB hole, found up to 0.16 ppm Au, most likely of
hydrothermal origin, with the area having the potential to be the top of a porphyry copper-gold system.
North Diorite Prospect (EL 8831 North)
•
Intersected 4m @ 0.21 ppm Au and 1230ppm Cu hosted in diorite, potentially indicating structurallycontrolled or porphyry copper-style mineralisation.
Further Potential at The Parkes Project:
●
●
12
Numerous other areas on EL8831 where ad-hoc soil sampling lines and minor, mostly shallow drilling has
been carried out and assayed for a limited element suite.
Potential for discovery of new areas by adopting modern multi-element geochemistry.
ASX: ADD
NO MISTAKE (EL8830) & THE DISH (EL9711)
Gold & Copper Targets Located in Fertile Ordovician Belts
NO MISTAKE LICENCE (EL8830)
•
Welcome Mine (EL8830): average reported head grade was 11g/t Au, untested by
drilling for continuation along strike, or at depth.
•
Parkvale Prospect (EL8830): anomalous rock chip of 6.3g/t Au and an
unexplained magnetic low located about 1.1km SSW.
•
Cunich (EL 8830): up to 1.4 g/t Au rock chips with elevated Cu.
•
Other Prospects (EL8830): Yet to be assessed by Adavale, and require field
inspection;
• Includes Hazelbank, Golden Bar Mine, Pukka Mine (near Parkvale) and Ramsays
Mine Prospects, some of which have had minor drilling and others not (these and
other unnamed prospects to be investigated further).
• Limited aircore drilling previously carried out at Parkvale, Cunich and Hazelbank
Prospects – not extensive, nor particularly deep (20-62m depth), and only drilled just
to or above bedrock (requires further assessment).
THE DISH LICENCE (EL9711)
•
Recently granted EL, focused on targeting prospective and largely untested Late
Ordovician Goobang Volcanics under cover, adjacent to similar-age Kirribilli Formation
sedimentary rocks.
•
Only limited exploration carried out by Compass Resources (7 holes; 48-96m depth) in
2007; exploration discontinued due to Company going into Administration.
ASX: ADD
Milestones Catalysts
Parkes Project
Acquisition
(Jan 2025)
ASX: ADD
3 x Rock Chip & Geochemical Survey
Ashes & Myalls (5km2)
Maiden JORC
London-Victoria
Maiden Drilling
Program
Exploration Target
London-Victoria Defined
279 grid-based soil samples & 19 rock
chips
(May 2025)
(Q2 2025)
(2H 2025)
(Feb – Mar 2025)
Phase 2
Drilling
(2H 2025)
RIU
First Field Visit
David Ward Appointed Non-
IP Survey
Assays received
Recon, Land Access,
Executive Technical
Drill Core Inspection
Director
Reprocessing for
Drill Targeting
(March & April Visit - 279 soil
samples, 19 rock chips and a
further 25 Rock Chips)
(Jan 2025)
(Apr 2025)
(May 2025)
(May 2025)
Additional Recon at
The Dish &
No Mistake
Resource
Extension
(Mid 2025)
(2H 2025)
Corporate Overview
ASX: ADD
Allan Ritchie
Nic Matich
Executive Chairman & CEO
Non-Executive Director
Experienced ASX/HKEx Energy and
Resources CEO/ED/MD over 15
years, 30+yr Investment Banking
career
Experienced ASX Resources
CEO/ED/MD with over 17 years’
experience in the resources
sector.
David Ward
Leonard Math
$4.6M
Non-Executive Technical
Director
CFO & Company Secretary
Top 20 Ownership
~ 46%
Board & Management Ownership
~ 4%
Accomplished Geologist and mining
executive with 25+ yrs experience
across exploration, project
development through to mining
Performance Rights
178M
ASX:ADD – Capital Structure (05 May 2025)
Shares on Issue
2,287M
Options
2,060M
Share Price
$0.002
Market Capitalisation (5 May 2025)
Options
5m (Unlisted) @ $0.03 (exp. 8/25)
543m (Listed) @ $0.03 (exp. 12/25) – ADDOA
913m (Listed) @ $0.005 (exp. 12/27) – ADDO
300m (Unlisted) $0.006 exp 10/29
300m (Unlisted) $0.012 exp 10/29
15
Chartered Accountant with over
15 years experience as
CFO/ED/Co-Sec for several
ASX-listed resources companies
www.adavaleresources.com
Allan Ritchie
Executive Chairman and Chief Executive Officer
allan@adavaleresources.com
+61 2 9127 9852
investor@adavaleresources.com
Adavale Resources Limited
@Adavale
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