Key Highlights

  • RC drilling has started at Ashes, the first drilling there since the Alkane tenure was acquired and EL9918 was granted.
  • Previously reported rock chips include 10.65 g/t gold, 158 g/t silver and 1.98% copper.
  • A chargeability anomaly lies almost entirely within the 100% owned EL9918 and may reflect disseminated sulphides.
  • The company is also working on a scoping study for the updated London–Victoria resource.

Adavale Resources Limited (ASX:ADD) has begun drilling at its Ashes prospect, part of the belt-scale Parkes Project in New South Wales. The announcement dated 11 November 2026 says Reverse Circulation Drilling is targeting outcropping gold-silver-copper veins and induced polarisation anomalies, following the consolidation of the ground after the Alkane tenure acquisition.

Why the ground was previously constrained

The exploration licence boundary previously cut across the high-grade surface mineralisation at Ashes and restricted effective testing. The company said the grant of EL9918 and the Acquisition of the adjacent ground from Alkane now allows holes to be positioned around the geology and geophysical targets, and to test the prospect as a connected system.

Adavale said this is the first drilling at Ashes since the licence boundary restriction was removed.

The surface veins and the geophysical target

Surface vein targets are supported by previously reported rock chips of 10.65 g/t gold, 158 g/t silver and 1.98% copper, and of 7.95 g/t gold, 96.4 g/t silver and 2.2% copper. The company said the silver association is consistent with a high-level, potentially epithermal system.

A notable IP chargeability target lies almost entirely within EL9918. The company said the chargeability response may reflect disseminated sulphides associated with a deeper Ordovician porphyry copper-gold system, though that interpretation is not yet tested.

Context and the drilling outcome

Adavale is also progressing a scoping study on the recently updated Mineral Resource at London–Victoria, and Ashes is a separate greenfield prospect in the belt.

Rock chip samples are selective and the IP response is a geophysical anomaly, so the presence of mineralisation at depth has yet to be demonstrated. The RC results will show whether the veins and the chargeability anomaly are linked.

Final Word

Adavale has moved its drilling into ground that was previously constrained, testing veins with high surface grades and an adjacent geophysical target. The RC results will indicate whether the epithermal veins connect with a deeper porphyry-style system.