Adavale Resources Uncovers Promising Gold-Copper-Silver Prospect at Parkes Project | ASX 300 Exploration Update

May 07, 2025 01:14 PM AEST | By Team Kalkine Media

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Adavale Resources Uncovers Promising Gold-Copper-Silver Prospect at Parkes Project | ASX 300 Exploration Update — Image source: shutterstock

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Highlights

Adavale Resources identifies high-potential gold-copper-silver target

Parkes project advances towards maiden drilling in Q2 2025

London-Victoria MRE reveals strong near-surface gold potential

Adavale Resources (ASX:ADD) has announced a major breakthrough at its Parkes project in New South Wales, highlighting a newly defined gold-copper-silver target at the Ashes prospect. The development marks a significant step in the company’s multi-phase exploration campaign aimed at uncovering high-grade mineralisation in the region.

The update comes on the back of reprocessed induced polarisation (IP) geophysical data, which has sharpened the focus on a central high-chargeability anomaly at Ashes. According to Adavale, this anomaly was not thoroughly tested by historical drilling, leaving substantial opportunity for further exploration. Supporting this potential, recent rock chip assays from the surrounding area have delivered impressive results—up to 10.65 grams per tonne (g/t) gold, 1.98% copper, and 158g/t silver.

This high-priority target is part of Adavale’s broader exploration strategy across the Parkes project, with several geochemical surveys and drilling programs underway or in planning. The company is progressing toward its maiden drilling campaign at Ashes, slated for Q2 2025, following interpretation of the current IP data and new geochemical assays.

Beyond Ashes, Adavale has released a maiden inferred mineral resource estimate (MRE) for the nearby London-Victoria deposit. The estimate comprises 3.8 million tonnes at 0.95g/t for 115,000 ounces of contained gold. The deposit, located in a shallow conceptual open pit setting, is seen as a scalable resource with potential for future expansion through shallow pit-floor drilling.

Importantly, Adavale completed the acquisition of the Parkes project just three months before releasing the MRE, indicating strong momentum in its project development timeline. Several historic drill intercepts have yet to be factored into the resource due to wide spacing, suggesting more upside remains.

London-Victoria’s strategic location within a region that already has established processing infrastructure could pave multiple pathways for Adavale to progress toward monetisation. This aligns with broader investor interest in mineral explorers listed within the ASX 300, where resource updates often attract attention.

While Adavale is not currently known for dividends, developments like these often prompt investors to keep a close watch on emerging ASX dividend stocks, especially those with high-grade exploration potential and efficient project execution.

With continued exploration, resource growth, and strategic project positioning, Adavale Resources is carving out a stronger footprint within the Australian mining sector.

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