Adavale Resources Commences RC Drilling at Ashes Prospect Targeting Gold-Silver-Copper Veins and IP Anomalies

Mukul

11 November 2026 12:32 PM AEDT

Adavale Resources Commences RC Drilling at Ashes Prospect Targeting Gold-Silver-Copper Veins and IP Anomalies

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Adavale Resources (ASX:ADD) has commenced reverse circulation drilling at its Ashes prospect within the Parkes Project in New South Wales, marking the first drilling programme at the site since the consolidation of tenure following the acquisition of ground from Alkane Resources Limited and the grant of exploration licence EL9918 on 25 May 2026.

Key Points

RC drilling is underway at the Ashes prospect, targeting outcropping gold-silver-copper vein systems and IP anomalies across the Parkes Project.
Previously reported rock-chip results from surface vein targets include assays of 10.65 g/t Au, 158 g/t Ag and 1.98% Cu, and 7.95 g/t Au, 96.4 g/t Ag and 2.2% Cu.
EL9918, held 100% by Adavale, contains a strong chargeability anomaly exceeding 30 mV/V identified by IP survey, considered prospective for a Northparkes-style porphyry copper-gold system.
Ashes is located in the Ordovician Macquarie Arc, approximately 10 km east of Northparkes.

Consolidated Tenure Enables First Unrestricted Drilling at Ashes

The Ashes surface mineralisation and geophysical target footprint previously extended across the boundary between EL8831 and ground held by Alkane Resources Limited, constraining effective drill testing of the system as a whole. Adavale acquired the southern 14 units of Alkane's EL5675, followed by the grant of EL9918 on 25 May 2026, consolidating the target area and removing the boundary restriction. EL9918 is held 100% by Adavale. The current programme represents the first drilling at Ashes since the removal of that former licence boundary restriction, enabling holes to be positioned around the geology and geophysical targets to test the prospect as a connected system.

Surface Rock-Chip Results Supporting Vein Targets

Previously reported surface rock-chip assays from the Ashes vein system include sample P24669 returning 10.65 g/t Au, 158 g/t Ag and 1.98% Cu, first reported on 9 April 2025, and sample P24654 returning 7.95 g/t Au, 96.4 g/t Ag and 2.2% Cu, first reported on 26 February 2025. Sample P24650 returned 9.19 g/t Au, 4.5 g/t Ag and 0.06% Cu, reported on 9 July 2026. A further surface sample reported in July 2026 returned 9.2 g/t Au, 4.5 g/t Ag and 660 ppm Cu within EL9918, demonstrating that the mineralised footprint extends into the newly secured ground. Drilling is designed to establish the geometry, continuity, alteration and mineralisation below the surface exposures.

IP Anomaly Targets Potential Deeper Porphyry Copper-Gold System

The IP survey across the Ashes prospect identified a strong chargeability anomaly exceeding 30 mV/V that lies almost entirely within the 100% owned EL9918. The IP model defines a resistive corridor alongside this discrete chargeability anomaly, with the resistivity response considered consistent with silica-rich alteration and the chargeability response considered prospective for disseminated sulphide-bearing alteration. The planned drill holes are designed to test the geophysical responses and the relationship between the resistive corridor and the adjacent chargeable zones. The regional setting within the Ordovician Macquarie Arc and the surface gold-silver-copper mineralisation support exploration for a Northparkes-style porphyry system, according to the filing.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.