Adavale Resources (ASX:ADD) has identified gold mineralisation at six additional prospects adjacent to the London-Victoria Gold Mine through a systematic review of historic drilling data.
Significant intersections include 11m @ 4.94 grams per tonne gold (Au) from 9m @ Drapers, 9m @ 4.9g/t Au from 28m at Nibblers Hill, and 4m @ 4.55g/t Au from 4m at Waterhouse.
At Somers, historic drilling returned 8m @ 3.2g/t Au from 36m and 4m @ 4.02g/t Au from 36m.
“These six prospects sit right on London-Victoria’s doorstep and complement the high-grade Victoria South Prospect where historic drilling returned 6m at 41.3g/t gold,” Managing Director David Ward says.
“They give us a clear pipeline of high-quality targets to drill-test as we build out the broader scale and development potential of the Parkes Project. With two rigs currently onsite at London-Victoria and an updated Mineral Resource Estimate (MRE) planned for September, we have real momentum heading into the second half of the year.”
On London-Victoria’s doorstep
The prospects sit along strike and immediately adjacent to the existing mine. This positioning reinforces London-Victoria’s standing at the heart of the consolidated Parkes Thrust gold system.
The 166,000-ounce gold MRE currently spans the broader Parkes Thrust Project. The MRE is based on historic data only and does not yet include 88 Adavale holes drilled to date.
Drapers is distinguished by a shallow historical intersection of 11m @ 4.94g/t Au from 9m in hole DR02. The hole was only 20m deep, leaving the intersection open at depth.
Adavale says the tenor and shallow position of this result make Drapers a priority target. The prospect is located 1.7km south of the London-Victoria open pit.
Nibblers Hill sits on exploration licence EL8555, recently acquired from Orange Minerals (ASX:OMX).
Historical mining at the prospect commenced in approximately 1880, with intermittent small-scale underground mining continuing between 1902 and 1924.
Records attribute production of more than 24.3kg of Au at an average grade of 31g/t Au to the Nibblers Hill workings.
Somers is distinguished by a large 2.4km-long coherent gold soil anomaly parallel and adjacent to the London-Victoria Gold Mine.
Armstrongs represents the most extensively drilled of the satellite opportunities. The company intersected mineralisation in multiple drill holes in a coherent zone parallel to London-Victoria.
ADD maintains two rigs remain active on site at London-Victoria, with systematic drilling underway to expand and upgrade existing mineralisation. The company expects to complete an updated MRE by the September quarter.
Adavale Resources is a New South Wales-focused gold explorer advancing the Parkes Project in the Lachlan Fold Belt.
Write to JC Villarba at Mining.com.au
Images: Mining.com.au
