Parabellum Resources Ltd (ASX:PBL) welcomes key developments across its copper-gold projects in central NSW and at the Khotgor Rare Earth Element (REE) Project in Mongolia.
The company has been busy with the current geophysics programs in NSW refining drill targets for the maiden program due to commence in the first quarter of the new year.
Drill target modelling
Modelling of drill targets is underway at the Whitbarrow and Redlands Project, with dry weather conditions in NSW allowing the company to kick off ground electromagnetic surveying at Lunns Dam to refine targets ahead of a maiden drilling program in 2023.
Further progress has also been made at the Khotgor REE Project with the start of construction of an REO Pilot plant in Ulaanbaatar, where the company is working with an experienced local partner in Mongolia, AltMet Process Engineers.
Commissioning is set for the first quarter of the new year, producing samples for process development, operator training and product samples for potential customers and offtake partners.
Positive development
This marks a very positive development in the company’s plans to move swiftly into an accelerated bankable feasibility study (BFS) following the initial scoping study due in quarter two of 2023.
Executive director Peter Secker said: “Our ability to produce larger scale metallurgical and offtake samples from our own facility is a key priority for the board and management team at Parabellum.
“This was a successful strategy deployed in my previous roles in taking early-stage projects through their study and development stages.
"This will allow us to efficiently (cost and time) send bulk sample materials to potential customers as well as start training a local operations team in Mongolia.
“On our NSW project(s), it’s pleasing that dryer weather conditions have allowed the EM crews to commence at Lunns Dam Project, which ranks as the highest-ranked priority target for drilling in 2023.”
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