Adavale Resources Limited is set to embark on a significant drilling program at its London Victoria Mine in New South Wales. The company has secured approval for a 10-hole, 2,200-meter reverse circulation drilling campaign that will target ten high-priority areas within the existing deposit. With the primary goal of expanding the current JORC Inferred Mineral Resource Estimate—3.14 million tonnes grading 1.06 grams per tonne gold, approximately 107,000 ounces—the initiative also aims to test for high-grade, east-west trending dilatational veins similar to those at the historic Koh-I-Nor mine, located 2.7 kilometers east of the main pit. The drilling program is scheduled to commence shortly, following the appointment of a drilling contractor. Adavale Resources Limited is reviving systematic resource extension drilling at London Victoria for the first time in more than 30 years. The new strategy will involve drilling partially oblique to the dominant north-south shear zone, thereby increasing the likelihood of encountering both the known mineralisation and any previously unseen high-grade structures. This effort comes at a time when gold prices have reached record levels above A$5,000 per ounce, potentially bolstering the economic viability of the project. From a market sentiment perspective, bullish observers may view this development as a promising sign. The program not only seeks to significantly enhance the resource base at London Victoria but also has the potential to uncover high-grade veins that could add substantial value to the company’s asset portfolio. The favourable gold price environment adds further impetus to this prospect, suggesting strong near-term upside if drilling results exceed expectations. Conversely, a bearish outlook might focus on the inherent risks of exploration drilling. The success of the program is contingent on geological factors that remain uncertain until the drill results are in. Additionally, the forward-looking nature of the statements indicates that there are still material uncertainties and potential challenges that could temper the anticipated benefits of expanding the resource. Overall, Adavale Resources Limited’s proactive move at the London Victoria Mine is a key development that could enhance its resource profile and drive investor optimism, while also underscoring the risks inherent in mineral exploration activities.