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The latest announcement is out from Adavale Resources Limited ( (AU:ADD) ).
Adavale Resources has identified multiple high-quality near-mine gold targets around its London–Victoria Gold Mine within the Parkes Gold-Copper Project. The targets are defined by coherent soil gold anomalies along the interpreted London–Victoria shear zone, with footprints comparable to those associated with the existing 115,000-ounce inferred resource.
Using an integrated, model-driven approach that combines surface geochemistry with high-resolution drone magnetics, the company is refining its understanding of structural controls on mineralisation. Management believes this work highlights significant untapped growth potential and provides a low-cost, low-risk pathway to rapidly expand the current resource and increase the overall gold inventory in the mine corridor.
The most recent analyst rating on (AU:ADD) stock is a Hold 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-listed explorer focused on the Parkes Gold-Copper Project, including the London–Victoria Gold Mine. The company targets near-mine gold and copper opportunities within established shear zones and mine corridors, aiming to grow its mineral resource base through model-driven exploration in a well-infrastructured district.
Average Trading Volume: 975,796
Technical Sentiment Signal: Sell
Current Market Cap: A$14.15M
See more insights into ADD stock on TipRanks’ Stock Analysis page.