Parabellum Resources (ASX:PBL) Reports Mineral Resource Update at Nickel Project, Shares in Focus

Sonal Goyal

30 September 2026 06:11 PM AEST

Parabellum Resources (ASX:PBL) Reports Mineral Resource Update at Nickel Project, Shares in Focus

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Parabellum Resources Limited (ASX:PBL), an ASX-listed mineral explorer with projects in New South Wales, announced an initial Mineral Resource Estimate (MRE) for the Miandetta Nickel-Cobalt Prospect at the Redlands Project in central NSW on 18 September 2026. The MRE, completed by independent consultancy Mining One Pty Ltd, is a combined Indicated and Inferred resource of 4.8 million tonnes at 0.77% Ni and 0.04% Co for 37 kilotonnes of contained nickel and 1.9 kilotonnes of contained cobalt, at a 0.7% Ni cut-off grade. The resource is hosted in a weathered laterite and saprolite profile from surface to a depth of generally less than 50 metres.

About Parabellum Resources

Parabellum Resources Limited (ASX:PBL) is an ASX-listed mineral exploration company with tenements in New South Wales focused on nickel, cobalt, and other base and precious metals. The Redlands Project (EL 9188) is the company's flagship asset, located in central NSW, and contains the Miandetta Ni-Co prospect alongside other Ni-Co targets and the adjacent Whitbarrow project. The company continues to assess potential precious and base metal acquisitions to complement its existing exploration assets.

Miandetta MRE — Announced 18 September 2026

The Miandetta prospect was identified as having excellent potential for hosting Ni/Co/Cu mineralisation following a review of previous exploration in 2023. Limited historic drilling had previously identified anomalous Ni-Cu mineralisation hosted in the weathered profile above ultramafic rocks. Between 2023 and 2025, Parabellum completed three systematic drilling programs that confirmed extensive, shallow Ni-Co mineralisation in laterite and saprolite developed above ultramafic basement.

In mid-2026, the company engaged Mining One Pty Ltd to complete the first MRE for the Miandetta prospect. The resulting MRE at a 0.7% Ni cut-off grade is: Combined Indicated and Inferred: 4.8 Mt at 0.77% Ni and 0.04% Co for 37kt of contained Ni and 1.9kt of contained Co. The resource is hosted in the weathered profile from surface to a general depth of less than 50 metres, making it potentially amenable to low-cost open cut mining and atmospheric leaching for nickel and cobalt extraction.

Recommended next steps include expansion and infill drilling to increase the size and confidence of the initial MRE, and additional metallurgical testwork to confirm the preferred processing route. Additional Ni-Co targets exist across the Redlands project and the adjacent Whitbarrow project. A prospectivity review of the company's NSW tenements is ongoing, with results expected in Q4 CY2026.

Industry Context

Nickel and cobalt are two of the principal battery metals used in Electric Vehicle (EV) cathodes, particularly in NMC (nickel-manganese-cobalt) and NCA (nickel-cobalt-aluminium) chemistries. Demand for both metals has grown significantly alongside the global EV market, and Australia's existing nickel industry has historically been export-oriented. Laterite nickel deposits — of which the Miandetta resource is an example — represent the majority of the world's nickel resource base, and recent technological advances in hydrometallurgical processing have made laterite projects more economically attractive. Central NSW has seen growing exploration interest for Ni-Co mineralisation associated with ultramafic sequences.

Risks and Uncertainties

The Miandetta MRE is an initial estimate at the Indicated and Inferred resource classification, with 37kt of contained nickel at a grade of 0.77% Ni. This is a modest-sized resource, and further drilling to expand and upgrade the resource classification will be required before economic studies can be undertaken. Metallurgical testwork to confirm the preferred processing route for the laterite ore is also noted as recommended next work. Nickel prices have been volatile in recent years, and the Economics of laterite nickel processing are sensitive to Commodity prices and processing costs.

FAQs

Q: What is the Miandetta MRE at Parabellum Resources?

A: An initial resource of 4.8 Mt at 0.77% Ni and 0.04% Co for 37kt contained Ni and 1.9kt contained Co, at a 0.7% Ni cut-off, classified as combined Indicated and Inferred.

Q: Where is the Miandetta prospect located?

A: Miandetta is part of the Redlands Project (EL 9188) in central New South Wales, Australia.

Q: What is the depth of the Miandetta mineralisation?

A: The resource is hosted in the weathered profile from surface to generally less than 50 metres depth.

Q: What are the recommended next steps at Miandetta?

A: Expansion and infill drilling to increase resource size and confidence, and additional metallurgical testwork to confirm the preferred processing route.

Q: What ASX ticker does Parabellum Resources trade under?

A: Parabellum Resources Limited trades on the Australian Securities Exchange under the ticker PBL.

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