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Adavale Resources Limited (ASX:ADD)

ALERT: Price-sensitive ASX Announcement for ADD
Current share price for ADD : $0.040 -0.008 (-16.67%)+
Announcement
Release
17 Feb 2026 8:15AM
Price at Release
$0.048
Full Release
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Summary
Adavale Resources Limited has announced the acquisition of a strategic exploration tenure package from Alkane Resources Limited. This acquisition is significant as it expands Adavale's existing Parkes Gold-Copper Project by consolidating additional adjacent exploration licenses. The newly acquired licenses include parts of EL5675 and EL9178, which are adjacent to key prospects such as the Ashes Prospect and the London-Victoria Gold Mine. This expansion increases Adavale's tenement footprint from 380 km² to 440 km² along the gold-rich Parkes Thrust corridor. The transaction involves Alkane becoming a shareholder in Adavale, reflecting confidence in the potential of the expanded tenure. Additionally, this acquisition strategically positions Adavale to capitalize on exploration opportunities, including the reassessment of geophysical and geochemical data, and supports its funded exploration programs.
Key Points
  • Adavale acquires exploration tenure from Alkane Resources.
  • Acquisition strengthens Adavale's Parkes Gold-Copper Project.
  • Tenure expansion from 380 km² to 440 km².
  • Key strategic areas include EL5675 and EL9178.
  • Alkane becomes a shareholder in Adavale.
  • Enhancements to the Ashes Prospect and London-Victoria Gold Mine.
  • Transaction involves 5,500,000 shares issued to Alkane.
  • Focus on expanding geological and resource models.
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.