Adavale Resources Granted Tanzanian Nickel Sulphide Licence

THE BOURSE WHISPERER: Adavale Resources (ASX: ADD) has been granted Prospecting Licence (PL) PL12350/2023 covering an area of 3.74 square kilometres in Tanzania.

Adavale applied for the PL, known as Luhuma Central, via its wholly-owned subsidiary Adavale Resources Tanzania Limited having identified it as a geologically important addition to its exploration tenure, due to its historical results and being within the broader 15km Luhuma trend previously discovered by Adavale.

Adavale explained Luhuma Central is fully enclosed within PL 11692/2021, of which the company has, to date, earned a majority interest of 65 per cent with rights to earn up to 100 per cent.

“Adavale has from the outset applied for its licences on geological merit rather than nearology alone,” Adavale Resources chairman Grant Pierce said in the company’s ASX announcement.

“The company recognised Luhuma Central as a coveted area, being within favourable lithologies and with demonstrable nickel sulphide mineralisation.

“It will play a key role in our broader exploration success.

“The granting of Luhuma Central is opportune timing as Adavale has recently recommenced drilling, being an approx. 5,000 metres program and Luhuma Central will definitely feature in this program.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE