What's Happening?
Adavale Resources Limited has commenced Phase 3 of its drilling program at the London-Victoria Gold Mine in New South Wales, Australia. The company aims to accelerate resource growth with an initial 6,000 meters of drilling. Recent results from Phase 2 drilling have confirmed the continuity of gold mineralization beneath the existing open pit, validating Adavale's structural geology model. The company plans to use pXRF-based geochemical logging and a drone magnetic survey to further refine its geological and resource model.
Why It's Important?
The expansion of Adavale Resources' drilling program is crucial for increasing the gold resource base at the London-Victoria Gold Mine. By confirming the scale of the mineralized system, the company can enhance its resource estimates
and potentially increase its market value. The successful validation of the structural geology model provides confidence in the project's viability, attracting investor interest and financial support. This development positions Adavale Resources to capitalize on the growing demand for gold and advance its production capabilities.
What's Next?
Adavale Resources plans to continue its drilling efforts to extend mineralization beneath the pit and explore adjacent areas. The company is also preparing for a drone magnetic survey in March 2026 to investigate the association between magnetics and gold. These initiatives aim to refine the resource model and support a substantial increase in the mineral resource estimate. As the company progresses, it will likely focus on securing additional funding and partnerships to support its exploration and development activities.
