Adavale Resources starts drilling at 10.65g/t gold target
By Liezl GambeKey points
- Adavale Resources has launched reverse circulation drilling across gold, silver, and copper targets at the Ashes prospect.
- Following the exploration update, the company's shares traded flat at $0.028.
- The campaign aims to test high-grade surface veins and deeper porphyry targets across the broader Parkes Project.
Adavale Resources (ASX:ADD) has commenced reverse circulation drilling at its Ashes prospect following previous rock chips grading of 10.65 g/t gold.
The campaign marks the first drilling at the site since Adavale Resources acquired adjacent ground from Alkane Resources (ASX:ALK), which lifted boundary restrictions.
“The strong silver association in the veins is consistent with a high-level, potentially epithermal setting, while the chargeability response may represent disseminated sulphides associated with a deeper porphyry copper–gold system," said Adavale Resources Managing Director David Ward.
Previous sampling across the vein system confirmed additional high-grade surface hits, including 7.95 g/t gold and 2.2% copper.
Following the announcement, the Adavale share price was unchanged at $0.026.
Adavale is advancing a scoping study on its London-Victoria mineral resource while expanding greenfield exploration across the Parkes Project.
The explorer recently consolidated its regional footprint by completing the Calarie gold acquisition and securing adjoining exploration ground.
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