Adavale Resources (ASX:ADD) is drilling the Ashes prospect in New South Wales, targeting gold-silver-copper veins and a porphyry-style induced-polarisation (IP) anomaly.
The reverse circulation (RC) program is the first at Ashes since the company acquired the southern 14 units of Alkane Resources’ (ASX:ALK) EL5675 exploration licence.
Adavale secured exploration licence EL9918 on 25 May 2026, which removed a boundary that previously split the target area.
Surface veins are supported by rock chips including 10.65 grams per tonne gold (Au), 158g/t silver (Ag), and 1.98% copper (Cu), along with 7.95g/t Au, 96.4g/t Ag, and 2.2% Cu.
A July 2026 sample within EL9918 returned 9.2g/t Au, 4.5g/t Ag, and 660 parts per million Cu.
The IP survey defines a 30mV/V chargeability anomaly lying almost entirely within EL9918, which Adavale wholly owns. The company says the response may reflect disseminated sulphides associated with a deeper porphyry copper-gold system.
Ashes sits in the Ordovician Macquarie Arc, about 10km east of Northparkes.
Managing Director David Ward says the newly consolidated tenure allows the company to test the prospect as a ‘single connected system’ for the first time.
“Securing the adjacent ground from Alkane […] allows us to position holes around the geology and geophysical targets,” Ward says.
Next steps at Ashes include extending magnetic surveys, soil sampling, and rock-chip programs into the new tenure, followed by first-pass drilling of priority targets. A Scoping Study is also underway at the London-Victoria Gold Project.
Adavale Resources is an Australian explorer focused on gold-copper discovery across the belt-scale Parkes Thrust Project in New South Wales’ Lachlan Fold Belt, alongside nickel assets in Tanzania.
Write to JC Villarba at Mining.com.au
Images: Adavale Resources
