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Adavale Resources Limited (ASX:ADD)

ALERT: Price-sensitive ASX Announcement for ADD
Current share price for ADD : $0.039 -0.009 (-18.75%)+
Announcement
Release
3 Dec 2025 8:22AM
Price at Release
$0.048
Full Release
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Summary
Adavale Resources Limited, an Australian junior explorer, has commenced the second phase of drilling at the London-Victoria Gold Mine, part of its Parkes Gold-Copper Project in New South Wales. The drilling program consists of approximately 2,300 meters of reverse circulation drilling, targeting extensions to mineralization beneath existing pits and following up on previous successful drilling results. This campaign aims to evaluate the scale potential of the mineral system and test for additional resource growth beyond the current Mineral Resource Estimate. The program is being led by recently appointed Managing Director David Ward, who has extensive experience in exploration programs. The drilling is expected to continue until 18 December 2025, with assay results anticipated in early 2026. The program's success is anticipated to inform potential Phase 3 drilling.
Key Points
  • Second phase drilling commenced at London-Victoria Gold Mine.
  • Approximately 2,300 meters of reverse circulation drilling planned.
  • Targets include extensions to mineralization beneath existing pits.
  • Program follows successful maiden drill program with significant gold intercepts.
  • David Ward, the new Managing Director, leads the drilling program.
  • Assay results expected in early 2026.
  • Potential Phase 3 drilling considered based on results.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.