- Parabellum Resources (PBL) is set to begin airborne electromagnetic (EM) surveying in early February to generate walk-up drill targets
- The aim of the survey is to target massive sulphide copper mineralisation in Western NSW and copper-gold skarn mineralisation around an intrusive complex in Central NSW
- Focus will be on the Obley, Recovery, Redlands and Whitbarrow projects which are prospective for gold and pathfinder elements
- The survey will begin early next month and is estimated to take two weeks to complete with results expected in March
- Parabellum ends the day 7.69 per cent in the green with shares trading at 21 cents
Parabellum Resources (PBL) is set to begin airborne electromagnetic (EM) surveying in early February to generate walk-up drill targets.
The aim of the survey is to target massive sulphide copper mineralisation in Western NSW and copper-gold skarn mineralisation around an intrusive complex in Central NSW.
The survey will be undertaken by UTS Geophysics with a focus on four areas totalling 1915 line kilometres.
These four areas are considered to have a high potential for the discovery of massive copper sulphides.
The survey will begin early next month and is estimated to take two weeks to complete with results expected in March.
Obley
Parabellum has completed a surface sampling program at the Obley Project with a focus on the Beehive, Naroo and Coppermine prospects.
Molybdenum and antimony anomalies were identified close to Coppermine while arsenic, bismuth and tin anomalies were identified at Naroo.
These anomalies indicate the potential for copper-gold mineralisation at depth and remain open to the east.
An airborne EM survey will be flown to assist in prioritising the soil anomalies for drill testing.
Recovery
Surface sampling has also been completed at the Recovery Project with a focus on the Swanson’s Trouble prospect.
A 500-metre by 50 to 100-metre gold and pathfinder anomaly was defined with a peak gold grade of 5.68 grams per tonne (g/t) gold recorded close to historical workings.
This anomaly is open to the north and south and appears to be associated with a north-north-west trending structure.
As it trends under transported cover both to the north and south, auger drilling has been planned to determine the strike extent of the gold anomaly.
Redlands & Whitbarrow
Surface sampling was completed at the Redlands and Whitebarrow projects with working defining a 300-metre by 400-metre nickel-copper-cobalt anomaly.
The anomaly is open to the east and sampling will be extended to cover this area.
“The exploration team at Parabellum are very excited to be kicking off multiple exploration activities across the company’s exciting suite of copper-gold projects — the board of PBL is particularly excited by the early-stage anomalies discovered at the Obley, Recovery and Redlands projects; and the data that will be generated by flying modern electromagnetics across the properties in February,” Non-Executive Director Peter Russ said.
Parabellum has ended the day 7.69 per cent in the green with shares trading at 21 cents for an $8.34 million market cap.