Adavale Resources Uncovers Six High-Grade Gold Prospects Adjacent to London-Victoria Mine Along Parkes Thrust System

Historic Drillhole Data Compilation Reveals Six Satellite Gold Deposits Near London-Victoria Mine

Following a comprehensive review of historic drillhole data around the London-Victoria Gold Mine, Adavale Resources has identified six distinct prospects exhibiting significant gold mineralisation. Drapers, Nibblers Hill, Waterhouse, Somers, Armstrongs, and McGuiggans lie along strike and immediately adjacent to the London-Victoria operation, reinforcing the company’s broader Parkes Thrust gold system consolidation strategy. This mirrors the success of identifying the Victoria South prospect earlier in 2026 through similar data compilation, which yielded historic drill results of 6m at 41.3g/t Au.

The historic dataset comprises 188 drillholes totaling 11,529 metres, mainly shallow aircore and reverse circulation drilling averaging 61 metres depth. Most drilling was conducted by third-party explorers during the 1990s under a Joint Venture between Michelago Resources NL and Sipa Exploration NL. Much of this data was previously absent from Adavale’s database because the exploration tenure was not held by the mine operator at the time, preventing integration into historical records.

Drapers Prospect Yields Shallow, High-Grade Gold Intersection Open at Depth

Drapers has emerged as a priority target after historic drilling revealed a shallow, high-grade gold intersection. Drillhole DR02 intersected 11 metres at 4.94 grams per tonne gold from just 9 metres depth, terminating at 20 metres and leaving mineralisation open at depth. The shallow depth and grade make Drapers a compelling near-mine target. The company believes this gold represents a primary source, distinct from alluvial gold channels to the east and west.

Located 1.7 kilometres south of the London-Victoria open pit, Drapers was excluded from the original BHP Gold Mining Licence, explaining its absence from previous drillhole databases. Its proximity to existing infrastructure and favourable geology make it accessible for follow-up drilling. Adavale currently operates two rigs onsite at London-Victoria, maintaining momentum into the second half of 2026.

Nibblers Hill’s Historic Mining Confirms Gold-Bearing Structures

Nibblers Hill, situated on recently acquired tenure EL8555 (100% acquired from Orange Minerals Limited), has a documented history of small-scale mining dating back to circa 1880, with underground mining between 1902 and 1924. The historic workings include approximately 12 vertical shafts over a 170-metre strike, with the deepest shaft reaching 53 metres. Historical records report production of over 24.3 kilograms (approximately 781 ounces) of gold at an average grade of 31 grams per tonne.

Modern drilling confirms continuation of this mineralisation, with drillhole NB-05 intersecting 9 metres at 4.90 grams per tonne gold from 28 metres depth. The orientation of historic workings aligns with the London-Victoria Gold Mine’s north-north-east strike and steep east dip, presenting clear opportunities to test strike and depth continuity using modern drilling and structural analysis. Nibblers Hill is positioned as a strategic satellite deposit prospect.

Strategic Land Acquisitions Remove Exploration Barriers at Waterhouse and Armstrongs

Recent strategic acquisitions have eliminated previous tenure boundaries restricting systematic exploration at Waterhouse and Armstrongs prospects. Waterhouse spans EL9178 and EL8555; with EL9178 acquired 100% in an all-scrip deal from Alkane Resources Limited (ASX:ALK), Adavale now controls continuous exploration across this area. Historic drilling under the Michelago–Sipa JV returned encouraging results including 4 metres at 4.55 grams per tonne gold from 4 metres in drillhole WH002. Waterhouse lies 1 kilometre south-south-west along strike from Nibblers Hill, forming part of a coherent structural trend.

Armstrongs, on EL9741, was acquired 100% via an all-scrip deal as part of Adavale’s Belt Scale Consolidation strategy. It is the most extensively drilled satellite prospect, with multiple mineralised intercepts defining a zone striking north-north-east and steeply dipping east, parallel to London-Victoria’s structure. Significant intercepts include 32m at 0.93g/t Au from 24m, 18m at 1.29g/t Au from 98m, 22m at 1.05g/t Au from 8m, 30m at 0.77g/t Au from 41m, and 26m at 0.87g/t Au from 28m, demonstrating consistent mineralisation.

Somers Prospect Exhibits Large Gold Soil Anomaly Parallel to London-Victoria Mine

Somers (historically known as Pinnigers) features a 2.4-kilometre-long coherent gold soil anomaly running parallel and adjacent to the London-Victoria Gold Mine. Within this anomaly, 71 historic drillholes compiled from previous exploration returned multiple significant intercepts, including 8m at 3.20g/t Au from 36m in drillhole PN31, 4m at 4.02g/t Au from 36m in PN30, and 7m at 2.14g/t Au from 33m in PN22.

The size and nature of the Somers anomaly, combined with limited shallow drilling, present a compelling bulk tonnage exploration opportunity. Company management notes that focused drilling here could significantly augment the existing mineral resources being updated at London-Victoria. Its proximity to infrastructure and parallel structural orientation to the main mine position Somers strategically within Adavale’s development pipeline.

Upcoming Mineral Resource Estimate to Include Adavale’s Drilling Data

The current Mineral Resource Estimate for the Parkes Thrust Project totals 166,000 ounces of gold, based solely on historic data and excluding 88 drillholes completed by Adavale. An updated Mineral Resource Estimate is scheduled for the September quarter of 2026, expected to incorporate Adavale’s exploration results and potentially expand the resource base. The London-Victoria Gold Mine component currently stands at 115,000 ounces of gold, pending update.

Two rigs actively drilling at London-Victoria support ongoing exploration efforts. Managing Director David Ward highlighted that the six newly identified prospects lie immediately adjacent to London-Victoria and complement the high-grade Victoria South prospect. He emphasized that these targets are along strike and parallel to existing resources and accessible via current infrastructure, providing a robust pipeline to advance the Parkes Project’s scale and development potential.

Strengthening Parkes Thrust Gold System Consolidation Enhances Near-Mine Development Prospects

Adavale’s strategy focuses on consolidating the Parkes Thrust gold system, using the London-Victoria Gold Mine as the core of this district-scale opportunity. The identification of six satellite prospects near London-Victoria validates the company’s thesis on the scale and continuity of gold mineralisation across the system. Recent acquisitions—including 100% ownership of EL8555 from Orange Minerals Limited (containing Nibblers Hill) and all-scrip deals for EL9178 from Alkane Resources Limited and EL9741—have removed tenure barriers, creating a unified exploration platform.

All six prospects are near existing London-Victoria infrastructure, offering operational advantages and reducing capital requirements for future satellite developments. Their consistent structural orientation—primarily north-north-east strike and steep east dip, mirroring London-Victoria’s structure—suggests an integrated mineralised system rather than isolated deposits. This continuity supports the company’s vision of the Parkes Thrust as a consolidated gold system capable of district-scale operations.

Historic Exploration Data Transformed Into Modern Drill Targets

Adavale’s systematic compilation and reinterpretation of historic drillhole data has effectively identified new exploration opportunities within established mineral districts. The Victoria South prospect, identified earlier in 2026 via this method, returned historic drilling of 6m at 41.3g/t Au, demonstrating the approach’s value. Applying this methodology across the London-Victoria Area has yielded multiple drill-supported gold targets ready for modern exploration and structural analysis.

This approach overcomes challenges common to junior explorers, where legacy datasets become inaccessible due to changes in exploration tenure. Drilling completed in the 1990s under the Michelago Resources–Sipa Exploration Joint Venture was not integrated into mine operator databases because the tenure was held separately. By acquiring these exploration licences, Adavale accessed this historic data, redefining exploration targeting across the London-Victoria Area.

Exploration Priorities and Development Timeline for 2026

With two rigs currently active at London-Victoria, Adavale has established strong operational momentum for H2 2026. Immediate priorities focus on drilling the six newly identified near-mine prospects using modern techniques and structural interpretation unavailable during the original 1990s drilling. The updated Mineral Resource Estimate due in September will benchmark the impact of these activities on the project’s scale. Managing Director David Ward affirmed a "clear pipeline of high-quality targets to test as we build out the broader scale and development potential of the Parkes Project."

Upcoming work will prioritise drill testing based on geological merit, accessibility, and resource potential. Drapers, with its shallow high-grade intercept open at depth, and Nibblers Hill, with confirmed historic mining and high-grade modern results, are near-term priorities. Somers, featuring a large soil anomaly and limited drilling, represents a bulk tonnage target with significant resource growth potential. The Mineral Resource Estimate update will provide investors with visibility on the combined resource impact of Adavale’s exploration across London-Victoria and the Parkes Thrust Project.