Miandetta’s Growing Nickel-Cobalt Zone Raises Questions on Resource Potential

Phase 3 Drilling Success at Miandetta

Parabellum Resources Limited (ASX, PBL) has released encouraging results from its latest Phase 3 Air Core and Reverse Circulation drilling program at the Miandetta nickel-cobalt prospect, part of the broader Redlands Project in New South Wales. Completed in late 2025, the drilling campaign has confirmed the continuity of near-surface nickel-cobalt mineralisation and expanded the known mineralised footprint significantly.

The drilling intersected multiple high-grade zones close to surface, with standout results including 7 metres at 0.92% nickel and 0.05% cobalt from just 3 metres depth, and a continuous 24-metre interval at 0.82% nickel from 1 metre downhole. These grades are notable for oxide-hosted deposits and suggest a robust mineralised system that remains open for further expansion.

Geological Context and Mineralisation Style

Miandetta's mineralisation is hosted within weathered ultramafic rocks, predominantly in saprolite and laterite profiles. The saprolite zone, in particular, is significant as it is more amenable to atmospheric acid leach processing, a method previously tested by Parabellum with promising nickel recovery rates exceeding 90%. The high-grade nickel-cobalt mineralisation correlates well with magnetic geophysical anomalies, although recent drilling has also identified mineralisation extending beyond the main magnetic high, indicating lateral dispersion and a larger deposit footprint than initially anticipated.

Expanding the Footprint and Next Steps

The Phase 3 program comprised 26 drill holes totaling 968 metres, with some aircore holes re-drilled by reverse circulation to achieve target depths. The results have extended mineralisation to the west and south, covering an area approximately 500 metres north-south and 400 metres east-west. Parabellum's Chairman, Peter Ruse, emphasised the significance of these findings, noting that the company is actively reviewing all geological, assay, and geophysical data to plan further exploration activities at Miandetta and across the Redlands Project.

While no formal resource estimate has yet been announced, the continuity and grade of mineralisation, combined with favourable metallurgical characteristics, position Miandetta as a compelling target in the nickel-cobalt sector. The company’s ongoing work will likely focus on delineating the deposit further and advancing metallurgical studies to underpin future development scenarios.

Broader Implications for Parabellum

Parabellum’s Redlands Project, which also includes copper and gold exposures, benefits from these positive nickel-cobalt results by enhancing the company’s portfolio diversity and potential value. Given the growing demand for battery metals like nickel and cobalt, particularly for electric vehicle and renewable energy technologies, Miandetta’s near-surface, high-grade mineralisation could become a strategic asset as Parabellum advances its exploration and development plans.