Recent drilling in the Lachlan Ford Belt has discovered high-grade intercepts at Adavale Resources’ London Victoria gold mine in New South Wales.
Recent drilling on 11 holes, the first since 1997, shows gold mineralisation is present at shallow depths, as well as along strike to the south.
The assay results have confirmed that gold mineralisation is present at shallow depths both below and along the strike, with a recent mineral resource estimate (MRE) from 1375 samples in the Lachlan Ford Belt showing 3.14 million tonnes (Mt) at 1.06 grams per tonne (g/t) gold for 107 thousand ounces (koz).
With mineralisation understood to extend over 1.4km of strike, well beyond the previously mined lodes and outside of Adavales’ current resource area, significant potential for resource expansion has been highlighted.
The results come from samples from nine holes, with another three pending assay results – with visual inspection indicating mineralisation has been intersected, pointing to “further upside”.
“The initial assay results from the maiden drilling program have reinforced the conviction Adavale has a potential producing asset in the London Victoria gold mine,” Adavale chief executive officer (CEO) Alan Ritchie said.
“Analysis of the downhole logs has highlighted a relationship between magnetic susceptibility and gold mineralisation. Using this relationship, Adavale can detect the demagnetised volcanics as a proxy for mineralisation utilising well established geophysical methods. This makes for more efficient drill targeting in future drilling campaigns.”
Existing MRE data from the area will be utilised to further expand the confidence and size of the current resource.
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