Adavale Resources Limited (ASX: ADD) has reported gold intercepts from the first six holes of its ongoing infill drilling campaign at the London-Victoria Gold Mine in New South Wales.
These initial results, covering 1,338m of a larger 5,594m program, provide further information on mineralisation beneath the historic open pit.
The drilling has identified two distinct styles of mineralisation across the project area.
In the Northern Area, assays revealed high-grade lodes, with hole ALRC028 returning 6m @ 2.96g/t Au (including 4m @ 4.18g/t Au) and ALRC031 delivering 10m @ 2.11g/t Au, which featured a peak interval of 12.1g/t Au.
These deep intercepts, located up to 137m below the pit floor, which the company is evaluating for potential underground mining options.
Conversely, the Southern Area is emerging as a bulk-tonnage prospect.
Holes ALRC034 and ALRC035 yielded some of the widest intercepts to date, including a broad zone of 54m @ 0.75g/t Au.
Managing Director David Ward noted that these results extend known mineralisation by 30-35m at depth, well outside the current 115koz Inferred Resource.
With two rigs currently active on-site and assays for another 20 holes pending, Adavale is maintaining momentum.
The company expects to provide monthly data updates leading toward a revised Mineral Resource Estimate (MRE) scheduled for mid-2026, alongside preliminary metallurgical and scoping studies to evaluate development pathways within the Tier-1 Lachlan Fold Belt.