AUS
NZ
UK
CA
USA
IND
Highlights
Adavale expands drilling at London Victoria Gold Mine
New capital supports exploration progress
confidence shown through voluntary escrow
Adavale Resources (ASX:ADD) is pushing ahead with its gold exploration initiatives, driven by fresh funding and encouraging geological results. The company is focused on advancing its Parkes Gold and Copper Project in New South Wales, with renewed efforts centred around the London Victoria Gold Mine.
Following the completion of an initial 10-hole drilling campaign, the exploration team is now expanding the program to 14 holes, targeting shallow gold mineralisation. This strategic move is designed to strengthen the company’s existing resource base and uncover further within its current.
Capital Raise Sets the Stage for Growth
A recent placement of new ordinary shares has provided Adavale with additional capital to support its ongoing activities. The funding was met with strong interest from a strategic group of, who have shown commitment by agreeing to a voluntary three-month escrow on their shares.
As part of the placement, will also receive free options, which are subject to approval at an upcoming shareholder meeting. These terms reflect a mutual interest in Adavale’s long-term direction and exploration strategy.
London Victoria Drilling Program Extended
Adavale’s extended drilling campaign at the London Victoria Gold Mine is a key development in its exploration roadmap. The decision to increase the number of drill holes was based on promising results from an in-pit geological review, the presence of additional shallow gold extensions.
The current resource estimate includes a significant high-grade component, and the additional drill holes are expected to enhance both the size and confidence level of this estimate. The drilling is scheduled for completion soon, with assay results anticipated shortly after.
Strengthening Confidence Through Strategy
The voluntary escrow agreed to by participating signals a notable degree of confidence in Adavale’s exploration direction. This level of support can play an important role during the early stages of resource development, providing the stability needed for consistent progress.
As work continues at the Parkes Project, Adavale is maintaining a clear focus on uncovering value through disciplined exploration. The recent expansion of its drilling program reflects both a proactive approach to geological data and the flexibility to adapt plans as new information becomes available.
Through these combined efforts, Adavale Resources (ADD) is steadily building its position in Australia’s resource development landscape, driven by data-led exploration and aligned stakeholder support.
