Adavale Resources (ASX:ADD) has identified an area of approximately 5 sq. km to be targeted for a programme of grid-based rock chip and soil geochemistry at the Parkes Gold and Copper Project, located in the Lachlan Fold Belt of NSW.
“We are highly encouraged after this recent visit and confident that we can get our proposed geochemical survey at the Ashes and Myalls prospects underway shortly and be completed swiftly,” Executive Chairman and CEO, Allan Ritchie, said.
“It was particularly rewarding to meet with the local landholders and secure complete access to 100% of the survey area, ensuring an uninterrupted and efficient programme. Additionally, we are pleased to have engaged highly experienced local geologists with expertise in the Lachlan Fold Belt, who will ensure the survey is conducted methodically and to the highest standards.
“The geochemical survey is feasible at or near the surface across the proposed area, where the extent of outcropping Ordovician rock is promising for gold and copper discoveries. This advantage sets us apart from many others in the region.
“We look forward to delivering updates to our shareholders shortly as results come in from this survey and as we progress with similar programs across Adavale’s broader tenement package. These efforts will ultimately help us define superior, more robust drilling targets and unlock the potential of our assets.”
Further Reconnaissance
Following on from the momentum gained during initial reconnaissance at the Ashes Prospect, further field investigation has been conducted at the adjoining Myalls Prospect on EL8831.
In conjunction with this, Adavale has now secured access with all relevant landholders at both of these prospects for a maiden rock chip and soil sampling program which will be carried out by the Company in Q1 2025.
The proposed programme follows an assessment of previous exploration at the Ashes and Myalls prospects, which identify these areas as the highest priority initial target areas for detailed field work. This work will form part of a wider strategy of systematically characterising these and numerous other historical prospects on the ground within the Parkes Project Exploration Licenses (EL’s). Modern exploration techniques, including the use of swift and low-cost pathfinder geochemistry signatures to determine mineralisation style and grade/tonnage potential, will be used to prioritise these prospects and surrounding areas that are predominantly located in a highly prospective corridor of mapped Ordivician aged volcanics and related rocks within the western portion of the Macquarie Arc.