Parabellum Resources Limited has delivered an initial Mineral Resource Estimate of 4.8 million tonnes at 0.77% nickel and 0.04% cobalt for the Miandetta prospect, located within the Redlands Project in central New South Wales.

The new resource stands below the prospect's prior Exploration Target, which had estimated between 10 million and 17 million tonnes at a grade of 0.8% to 0.9% nickel. The initial estimate encompasses a combined Indicated and Inferred inventory containing 37,000 tonnes of contained nickel and 1,900 tonnes of contained cobalt.

The deposit is hosted within a weathered laterite and saprolite profile stretching from surface to depths generally under 50 metres above ultramafic rocks. Independent consultancy Mining One completed the estimate using an Ordinary Kriging method at a reporting cut-off grade of 0.70% nickel, drawing on aircore and reverse circulation drilling completed by Parabellum between 2023 and 2025.

Prior to the resource delivery, Parabellum completed preliminary metallurgical testwork on bulk samples from the project in August 2024, achieving nickel recoveries exceeding 90% via an atmospheric acid leach flowsheet.

“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. In this respect, we received relevant recommendations which we will review in detail in the coming weeks before assessing next steps at the project. Additional Ni-Co targets exist across the Redlands project and the adjacent Whitbarrow project. These have the potential Parabellum Resources Limited 2 to add tonnes to the Miandetta MRE and are currently being reviewed as part of the prospectivity study across our NSW tenement portfolio”

— Peter Ruse, PBL Chairman

To build upon the initial estimate, the company plans to conduct expansion and infill drilling across the Redlands project to increase both the size and confidence of the resource. Parabellum also expects to receive results from a broader prospectivity review across its New South Wales tenements in the fourth quarter of calendar year 2026.

Read the full announcement: Initial Mineral Resource Estimate at Miandetta Prospect