Adavale Hits 31m at 1.29 g/t Gold Below London-Victoria Pit

Ward said the latest results reinforce what the systematic drillout has shown: gold mineralisation is consistently developed below the pit across multiple sections. The outcome does not depend on a single standout hole, he said, and repeated intersections across the whole 1.5km strike are increasing drill density and strengthening the geological interpretation ahead of a planned Mineral Resource update.

Adavale considers the broad intersection in ALRC070 particularly significant because of its shallow position directly beneath the existing pit. Adavale believes the mineralisation could be accessed early in a future pit cutback and provide an initial source of plant feed during the establishment of mining operations. The shallow depth of the intercept, at just 16 metres below the pit floor, could allow for relatively low-cost extraction if the project advances to production, Adavale indicated.

The additional drilling will be incorporated into the geological model and added to the planned Mineral Resource update this quarter. The resource update will be a significant milestone for Adavale, providing the basis for any future mining studies. Drilling remains active, with more assays to be reported after receipt and validation.

ADD shares rose 5.56% to 3.8 Australian cents, giving a market capitalisation of $12.06 million.