Adavale accelerates London-Victoria drilling as Phase 2 assays confirm growth potential

Adavale Resources Limited ( (AU:ADD) ) has provided an announcement.

Adavale Resources has reported final Phase 2 drilling assays from the London-Victoria Gold Mine, confirming strong continuity of gold mineralisation beneath the existing pit and validating its structural geology model. The latest seven reverse circulation holes, including standout intercepts such as 28 metres at 1.53 grams per tonne gold and 21 metres at 1.40 grams per tonne, demonstrate that the mineralised system remains open at depth, down plunge and along strike.

Management noted that Phase 2 drilling tested only a small portion of the 1.5 kilometre open pit length, reinforcing confidence in the broader strike potential of the deposit. Building on these results and a recently completed capital raising, Adavale has commenced and expanded a Phase 3 drilling program of an initial 6,000 metres to accelerate resource expansion and advance London-Victoria toward near-term production, potentially strengthening its position in the regional gold sector.

The most recent analyst rating on (AU:ADD) stock is a Sell with a A$0.04 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 junior explorer focused on gold and copper projects in the Lachlan Fold Belt of New South Wales. The company is advancing the London-Victoria Gold Mine as a brownfields, near-term production opportunity, supported by recent investor funding aimed at accelerating resource growth and project development.

Average Trading Volume: 692,261

Technical Sentiment Signal: Sell

Current Market Cap: A$12.65M

For a thorough assessment of ADD stock, go to TipRanks’ Stock Analysis page.