Parabellum Resources Ltd (ASX:PBL) has launched a new drilling program at the Redlands Nickel-Cobalt Project in the Lachlan Fold Belt of central NSW to follow up on encouraging results from maiden aircore drilling completed last October.
The new program will comprise 50 holes for around 2,000 metres from surface down to 50 metres depth at the Redlands and Redlands West prospects.
Redlands is to the southeast of the Tritton Copper Operations of Aeris Resources.
Drill targets
It is targeting the higher-grade nickel-grade ultramafic nickel oxide mineralisation encountered in the last drilling program.
A further 20 holes are also planned in the Miandetta area, focusing on shallower targets at a depth of 30 to 40 metres below surface.
Parabellum expects that the first assay results from the new program will be available before the end of the first half of 2024.
READ: Parabellum Resources intersects further near-surface nickel-cobalt at Redlands
Follow-up
The previous aircore campaign of 45 holes for 2,044 metres returned 18 metres at 1.08% nickel and 0.05% cobalt from 22 metres, 6 metres at 0.66% nickel and 0.04% cobalt from 4 metres, and 8 metres at 0.59% nickel and 0.02% cobalt from 12 metres.
They indicated continuity of very shallow high-grade nickel-cobalt mineralisation at Redlands with mineralisation open to the east and pointed to further potential for significant mineralisation in the western part of the Redlands prospect and at the Miandetta prospect.
A review of previous exploration of the Redlands Project area highlighted the Miandetta-Redlands prospect area as having excellent potential for hosting nickel-cobalt-copper mineralisation.
Limited historic drilling had identified anomalous nickel-copper mineralisation hosted in the oxide (weathered) profile above ultramafic rocks, which have a distinct strong magnetic signature.
Area has potential
Upon completion of this program, Parabellum executive director Peter Secker said: “The drilling program has confirmed the potential of this area to host significant mineralisation and the results obtained are considered very encouraging.
“The company is reviewing all assay, geological and geophysical data in order to plan appropriate systematic follow-up drilling focused on expanding the size of the nickel-cobalt mineralisation.”
PBL holds a 100% interest in four projects in a highly prospective region in New South Wales. The existing project portfolio offers exposure to nickel, cobalt, copper and gold.
It is also on the lookout for asset acquisition opportunities in the resource sector that align with its current projects.