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The latest update is out from Adavale Resources Limited ( (AU:ADD) ).
Adavale Resources has expanded and accelerated its reverse circulation drilling program at the London-Victoria gold mine, increasing beyond the initial 6,000 metres and adding a second rig to systematically grow the existing 115,000-ounce JORC Inferred Mineral Resource. Management reports that recent drilling has confirmed grade and continuity, and the company expects a steady flow of assay results from April, supporting its data-driven strategy to build scale at Parkes.
The company is also enlarging its drone magnetic survey over London-Victoria and planning further ground magnetics and soil sampling at the Ashes Prospect, including on tenure recently acquired from Alkane. In addition, Adavale is reviewing historical data at the Victoria South Prospect, interpreted as a possible southern extension of the London-Victoria mineralisation, which could provide shallow, near-mine resource growth and further strengthen the project’s development potential.
The most recent analyst rating on (AU:ADD) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Adavale Resources Limited stock, see the AU:ADD Stock Forecast page.
More about Adavale Resources Limited
Adavale Resources Limited is an Australian exploration company focused on the Parkes Gold-Copper Project in New South Wales. The company is advancing the London-Victoria gold mine, where it holds a 115,000-ounce JORC Inferred Mineral Resource, and is targeting additional near-mine and regional gold and copper discoveries across its broader landholding.
Average Trading Volume: 913,947
Technical Sentiment Signal: Sell
Current Market Cap: A$11.52M
See more insights into ADD stock on TipRanks’ Stock Analysis page.