Adavale Resources (ASX:ADD) reports bonanza gold grades up to 245g/t at Victoria South, highlighting potential extension to London-Victoria resource

Jane Morgan Management

Sydney, Australia – 9 April 2026| Adavale Resources Limited (ASX:ADD) has reported bonanza-grade gold intercepts of up to 245.5g/t from historic drilling at its Victoria South Prospect, confirming strong potential for a southern extension of the London-Victoria Gold Mine and supporting further resource growth at its Parkes Gold-Copper Project in New South Wales.

A review and compilation of historical drilling datasets has identified multiple shallow, high-grade gold intercepts immediately south of the existing London-Victoria Mineral Resource, including a standout result of 1m @ 245.5g/t Au from 22m. 

Additional significant intercepts include 17m @ 1.53g/t Au, 13m @ 2.25g/t Au, 15m @ 1.68g/t Au and 11m @ 2.37g/t Au, reinforcing the continuity of mineralisation along strike.

The results validate earlier surface geochemical sampling and indicate that the near-mine mineralised footprint is materially larger than the current 115koz London-Victoria gold resource. The mineralisation remains shallow and open, presenting a compelling opportunity to expand the existing resource inventory.

Adavale Resources Managing Director, Mr. David Ward, commented: “The validation of historical drilling at Victoria South confirms the opportunity for a southern extension of the London–Victoria mineralised system, with multiple shallow, high-grade intercepts supporting strong continuity along strike. The prospect fits directly within our evolving structural model, and with drone magnetics extending into this area, we are well positioned to refine targets in advance of drilling.

Victoria South represents a priority near-mine opportunity with potential to deliver additional shallow ounces to support ongoing Mineral Resource growth.”

Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “Results from the Victoria South Prospect reinforces the strong momentum building across the Parkes Copper-Gold Project, with shallow high-grade results including a bonanza grade intercept of 1m @ 245.5g/t Au from 22m highlighting the quality of mineralisation emerging along strike. With multiple workstreams advancing in parallel, we are rapidly building scale at London–Victoria while continuing to unlock new opportunities across the broader project.”

The Victoria South Prospect lies directly along strike from the existing London-Victoria open pit and has been confirmed as part of the same mineralised system. Historical drilling, previously constrained by fragmented tenure ownership, has now been consolidated under Adavale’s control, enabling the integration of this dataset into the Company’s broader geological model for the first time.

The confirmation of basement-hosted gold mineralisation beneath surface anomalies also validates Adavale’s exploration methodology and strengthens confidence in other near-mine and regional targets across the Parkes Project.

Looking ahead, Adavale is advancing a range of parallel workstreams at London-Victoria, including systematic brownfields drilling to expand and upgrade mineralisation, metallurgical test work to assess recoveries, preliminary scoping studies, and expanded geophysical surveys to improve targeting accuracy.

ABOUT ADAVALE RESOURCES

Exploring for Gold and Copper in the NSW Lachlan Fold Belt, Uranium in South Australia, and Nickel Sulphide in Tanzania.

Overview of The Parkes Project: A World-Class Geological Setting

The Parkes Project comprises 9 granted exploration licences (EL’s) that cover a total area of ~489.4 km² strategically located within the Macquarie Arc of the Lachlan Fold Belt – a Tier-1 mining jurisdiction. The region hosts world-class operations such as Cadia Ridgeway (35.1Moz Au & 7.9Mt Cu) and Northparkes (5.2Moz Au & 4.4Mt Cu), adjacent and directly west of the Parkes Project.

Jane Morgan Management
Investor & Media Relations
[email protected]