Parabellum Resources Defines 37kt Nickel Resource at Miandetta to Build on
Key Takeaways
- Parabellum Resources (ASX: PBL) has published its inaugural Mineral Resource Estimate at Miandetta, returning 4.8 Mt at 0.77% Ni and 0.04% Co for 37kt of contained nickel and 1.9kt of cobalt.
- The resource sits entirely in Indicated and Inferred categories — no Measured resources have been defined — with the Competent Person flagging the single assumed bulk density of 1.66 as a key limitation requiring a dedicated measurement programme.
- Mineralisation is shallow, typically commencing near surface and extending to less than 50m depth, supporting a conceptual open-pit scenario with Atmospheric Acid Leach processing that has already demonstrated nickel recoveries exceeding 90% in prior testwork.
- Six formal recommendations from independent consultancy Mining One Pty Ltd outline the path to resource expansion and confidence upgrades, including infill drilling, bulk-density work, and preliminary geotechnical studies.
- Additional nickel-cobalt targets across the Redlands and adjacent Whitbarrow projects remain untested, with a prospectivity review of PBL's NSW tenement portfolio due in Q4 CY2026.
Parabellum Resources delivers initial mineral resource estimate at Miandetta nickel-cobalt prospect
Parabellum Resources (ASX: PBL) has completed its first-ever Mineral Resource Estimate (MRE) at the Miandetta prospect, part of the Redlands Project in central New South Wales. The estimate, prepared by independent consultancy Mining One Pty Ltd, returned a combined Indicated and Inferred resource of 4.8 Mt at 0.77% Ni and 0.04% Co, containing 37kt of nickel and 1.9kt of cobalt. The result crystallises three systematic drilling programs conducted between 2023 and 2025.
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Three drilling campaigns underpin the MRE
A 2023 review of previous exploration at the Redlands Project (EL 9188) identified Miandetta as a high-potential target for nickel, cobalt, and copper mineralisation. Limited historic drilling had already intercepted anomalous Ni-Cu grades within a weathered profile above ultramafic rocks, but systematic work had not yet been completed.
Three drilling programs followed between 2023 and 2025, confirming extensive, shallow Ni-Co mineralisation hosted by laterite and saprolite above those ultramafic rocks. The Redlands Project sits within the Girilambone geological province of central NSW, a region underlain by the Girilambone Group. Nickel-cobalt enrichment at Miandetta formed through prolonged weathering of ultramafic rocks, producing a classic laterite profile.
Mineralisation is typically shallow, commencing near surface and extending to depths generally less than 50m below surface. This shallow geometry is commercially relevant, as it supports a conceptual open-pit extraction scenario. Two mineralised domains were identified within the weathered profile:
- Limonite (highly weathered oxide cap)
- Saprolite (less weathered transitional zone)
MRE breakdown — what the numbers show
The MRE was estimated using Ordinary Kriging within Leapfrog Geo, with a reporting cut-off grade of 0.70% Ni based on a conceptual open-pit mining scenario and an Atmospheric Acid Leach (AL) processing route.
| Domain | Classification | Mass (Mt) | Ni (%) | Ni (kt) |
|---|---|---|---|---|
| Limonite | Indicated | 2.2 | 0.77 | 16.9 |
| Limonite | Inferred | 1.4 | 0.80 | 11.2 |
| Limonite | Sub Total | 3.6 | 0.78 | 28.1 |
| Saprolite | Indicated | 0.9 | 0.73 | 6.6 |
| Saprolite | Inferred | 0.2 | 0.76 | 1.5 |
| Saprolite | Sub Total | 1.2 | 0.73 | 8.8 |
| Total | Indicated | 3.1 | 0.76 | 23.6 |
| Total | Inferred | 1.7 | 0.80 | 13.6 |
| Grand Total | Indicated + Inferred | 4.8 | 0.77 | 37 |
Key points investors should note alongside these figures:
- No Measured resources have been defined at this stage — all tonnes sit in Indicated or Inferred categories
- Cut-off grade applied: 0.70% Ni
- Bulk density: a single assumed specific gravity of 1.66 was applied across all domains, which the Competent Person identified as an important limitation requiring a dedicated measurement programme
- Cobalt grades of 0.04% Co across the total resource equate to 1.9kt of contained cobalt
- Prior metallurgical testwork on Redlands bulk samples demonstrated nickel recoveries exceeding 90% via Atmospheric Acid Leach (AL) processing, with the economic model targeting production of a Mixed Nickel-Cobalt Hydroxide Precipitate (MHP)
What is a mineral resource estimate — and why does it matter?
A Mineral Resource Estimate (MRE) is the formal, publicly reportable recognition that mineralisation exists in sufficient quantity and quality to warrant consideration for eventual economic extraction. Under the JORC Code 2012, resources are classified by confidence level: Measured (highest), Indicated (moderate), and Inferred (lowest). Each category reflects how much geological data exists to support the estimate.
Think of it as a spectrum of certainty. Measured resources are supported by dense drilling data and detailed studies. Inferred resources are based on limited information, with significant geological uncertainty remaining.
For Parabellum, this MRE marks a meaningful shift. Miandetta moves from an exploration target with promising drill results into a formally defined resource, giving the market a quantified starting point for future development decisions. That does not mean it is ready to mine. It does mean the company now has a number to build on.
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Recommended next steps and growth potential
The Competent Person, Stuart Hutchin of Mining One Pty Ltd, provided six recommendations to expand and improve confidence in the MRE:
- Additional drilling targeting lateral extensions where mineralisation remains open or is insufficiently supported for resource classification
- Systematic infill drilling within the existing resource to upgrade geological and estimation confidence
- A comprehensive bulk-density measurement programme, flagged as a priority given the current reliance on a single assumed density figure
- Selected verification or twinned drillholes to confirm the reproducibility of geological logging and grade data across the aircore and RC drilling datasets
- Additional mineralogical and metallurgical testwork on representative samples from the principal resource domains
- Preliminary geotechnical, hydrogeological, and mining studies to improve the basis for open-pit constraint modelling
Beyond Miandetta itself, the announcement notes that additional Ni-Co targets exist across the Redlands project and the adjacent Whitbarrow project, which have the potential to add tonnes to the MRE. A prospectivity review of the company’s NSW tenement portfolio is ongoing, with results expected in Q4 CY 2026. PBL also continues to evaluate potential precious and base metal acquisition opportunities aligned with its current exploration strategy.
Peter Ruse, Non-Executive Chairman, Parabellum Resources
“The initial MRE crystallises the work completed by the Company at Redlands and Miandetta over several years. It also provides a solid platform to complete further activities to aim to improve the confidence in the existing Resource and expand known mineralisation…”
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