Parabellum Resources Limited (ASX: $PBL) Phase 2 drilling program results

Parabellum Resources Limited (ASX: $PBL) has announced the results of its Phase 2 air core/RC percussion drilling program at the Miandetta-Redlands Ni-Co prospect in New South Wales. The program has revealed very encouraging results, including near surface high-grade nickel-cobalt mineralisation at both the Miandetta and Redlands prospects. The mineralisation is still open to the East at Redlands and to the West and South at Miandetta. The company is currently reviewing all assay, geological, and geophysical data to undertake appropriate systematic metallurgical testwork focused on determining the mineralisation's response to low-cost atmospheric leaching.

Executive commentary on Phase 2 drilling program results

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. 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 Company is currently reviewing all assay, geological and geophysical data in order to undertake appropriate systematic metallurgical testwork focused on determining whether the mineralisation intersected responds well to low cost atmospheric leach processing.

Summary of Phase 2 drilling program results and outlook

Parabellum Resources Limited (ASX: $PBL) has reported very encouraging results from its Phase 2 air core/RC percussion drilling program at the Miandetta-Redlands Ni-Co prospect. The results indicate near surface high-grade nickel-cobalt mineralisation at both the Miandetta and Redlands prospects, with the mineralisation still open to the East at Redlands and to the West and South at Miandetta. The company is currently planning metallurgical testwork to determine the mineralisation's response to low-cost atmospheric leaching. The results suggest the potential for significant mineralisation and the company's systematic approach to further testing and exploration reflects its commitment to maximizing the value of its mineral resource projects.