Parabellum’s Miandetta Prospect Shows Promise but Faces Grade Variability

Phase 3 Drilling Validates Miandetta Prospect

Parabellum Resources Limited (ASX, PBL) has delivered encouraging results from its latest drilling campaign at the Miandetta nickel-cobalt prospect in New South Wales. The recently completed Phase 3 program, comprising 26 holes and nearly 1,000 metres of combined air core and reverse circulation drilling, has confirmed the continuity of shallow, high-grade mineralisation within the oxide weathering profile.

Notably, the drilling intercepted nickel grades reaching up to 0.92% and cobalt concentrations as high as 0.06%, predominantly within the top 50 metres of the saprolite layer. This near-surface mineralisation is significant because it suggests easier and potentially more cost-effective extraction methods, especially given the favourable response of saprolite to atmospheric acid leach processing techniques.

Strategic Focus on Base and Precious Metals

Beyond the Miandetta results, Parabellum is actively pursuing new project opportunities that align with its strategy of acquiring and developing base and precious metals assets. The company’s portfolio in the Tottenham-Girilambone district includes four tenements covering approximately 690 square kilometres, with ongoing exploration at Redlands, Whitbarrow, Recovery, and Lunns Dam projects.

With a cash position of $1.12 million at the end of December 2025 and strict cost management in place, Parabellum is well-positioned to continue its exploration activities and evaluate potential acquisitions. The company’s disciplined approach to expenditure, with only $60,000 spent on exploration-related activities during the quarter, underscores its commitment to prudent capital allocation.

Outlook and Market Implications

While no development or production activities have commenced, the confirmation of high-grade nickel and cobalt near surface at Miandetta adds a valuable asset to Parabellum’s portfolio. Given the growing global demand for these metals; critical for battery technologies and clean energy applications; the company’s progress could attract increased investor interest and strategic partnerships.

However, variability in mineral grades and the early stage of project development mean that further drilling and metallurgical testing will be essential to fully assess the economic potential. Parabellum’s next steps will likely focus on expanding resource definition and advancing discussions around new acquisitions to build a diversified metals portfolio.