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Parabellum Resources (ASX:PBL) has been vindicated in its prediction of finding near-surface high-grade nickel and cobalt mineralisation at its Miandetta-Redlands project in New South Wales.
Aircore and reverse-circulation (RC) drilling completed in February showed continuity of mineralisation was present at shallow levels at both prospects, with Miandetta’s results including 36m at 1.1% nickel (Ni) and 0.06% cobalt (Co) from 4m.
The company also highlighted 28m at 0.9% Ni and 0.04% Co from 2m; 10m at 0.94% Ni and 0.02% Co from 8m; and 14m at 0.93% Ni and 0.05% Co from 0m.
At Redlands, results included 10m at 0.62% Ni and 0.02% Co from 2m.
The Phase 2 drilling program also indicated that mineralisation at both prospects was open – to the east at Redlands, and to the south and west at Miandetta.
Executive director Peter Secker said the results had confirmed prior expectations for the territory.
”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,” he said.
“This Phase 2 drilling program completed in February 2024 has confirmed the potential of both the Miandetta and Redlands prospects to host significant, near surface nickel-cobalt mineralisation.
“The drilling has significantly expanded the footprint of the nickel-cobalt mineralisation and the results obtained are considered very encouraging.”
The next goal for Azure will be determining – via metallurgical testwork – whether the drilled mineralisation will respond successfully to low-cost atmospheric leaching.
Located around 25 kilometres west of Nyngan in New South Wales, Parabellum’s Redlands’ licence comprises land believed to hold contains copper-nickel-cobalt mineralisation associated with mafic-ultramafic rocks.
Parabellum is trading at 7c.
