Parabellum Resources Ltd (ASX:PBL) has received the final results from its maiden drilling program at the Miandetta-Redlands nickel-cobalt prospect in central NSW.
Results from the phase 1 aircore drilling program, completed in October and involving 45 holes for 2,044 metres of drilling, indicate continuity of very shallow high-grade nickel-cobalt mineralisation at Redlands with mineralisation open to the east.
They also point to further potential for significant mineralisation in the western part of the Redlands prospect and at the Miandetta prospect.
The results include 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.
The Redlands/Whitbarrow, Recovery and Lunns Dam Projects in the Tottenham-Girilambone district comprise four granted exploration licences covering about 690-square kilometres, while the Obley Project in the Yeoval district comprises one granted exploration licence covering around 180-square kilometres.
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. A systematic drilling program was developed to test the prospectivity of this target.
Potential to host significant mineralisation
”The Miandetta-Redlands prospect area was identified by the company as having significant potential for hosting oxide near-surface nickel-cobalt mineralisation in August 2023,” said Parabellum executive director Peter Secker.
“The drilling program completed in late October has confirmed the potential of this area to host significant mineralisation and the results obtained are considered very encouraging.
“The company is currently 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.”
Follow-up drilling planned
The company has planned follow-up Phase 2 drilling to further test the eastern limits of the Redlands prospect and to more systematically test the area to the west of Redlands prospect and the Miandetta prospect itself.
Environmental approvals to conduct the drilling have been lodged with the NSW Resource Regulator and a drill contractor will be engaged to commence in Q1, 2024.