Parabellum Resources Limited is an Australian minerals exploration company listed on the Australian Stock Exchange (ASX code: PBL). The Company is committed to increasing shareholder wealth through the acquisition, exploration and development of mineral resource projects in Australia and abroad.
The Company owns tenure in NSW across four projects: the Lunns Dam, Redlands-Whitbarrow and Recovery Projects in the Tottenham-Girilambone district of central-west NSW which comprises four granted exploration licences covering approximately 690km²; and the Obley Project in the Yeoval district of central NSW which comprises one granted exploration licence covering approximately 180km².
Lunns Dam Project
The Lunns Dam licence (EL 8847) is situated approximately 10km north‐west of the village of Tottenham and approximately 130km west of the city of Dubbo in the central west of New South Wales.
The Lunns Dam licence is underlain by the Girilambone Group sediments and volcanics which are considered prospective for Besshi style Cu-rich VMS deposits. Although there are no known mineral occurrences on the Lunns Dam licence, rocks that host copper mineralisation at Tottenham are interpreted to extend into the Lunns Dam licence
The Redlands licence (EL 9188) and Whitbarrow licence (EL 8852) are situated approximately 25km west of the town of Nyngan in the central west of New South Wales.
The Redlands-Whitbarrow licences are underlain by Girilambone Group sediments and volcanics which are considered prospective for Besshi style Cu-rich VMS deposits. There are three known copper/nickel/cobalt mineral occurrences (Redlands, Miandetta and Miandetta Extended) on the Redlands-Whitbarrow licences, interpreted to be associated with mafic/ultramafic rocks.
The Recovery licence (EL 9189) is situated approximately 75km south of the town of Nyngan and approximately 50km west of the village of Tottenham in the central west of New South Wales.
The Recovery licence is underlain by Girilambone Group sediments and volcanics which are considered prospective for Besshi style Cu-rich VMS deposits. There are three small-scale historic workings present on the Recovery licence – Recovery Copper and gold prospects at Skinner’s and Swanson’s Trouble.
The Obley licence (EL 8846) is situated approximately 15km north‐west of the town of Yeoval and approximately 40km south of the city of Dubbo in the central west of New South Wales.
The Obley licence is underlain by the Devonian Cuga Burga Volcanics which have been intruded by the Devonian Yeoval intrusive complex. The project is considered prospective for skarn mineralisation and is host to several small Cu-Au skarn deposits. There are ten historic Cu-Au workings and mineral occurrences noted on the Obley licence.
Lunns Dam Project
Past exploration work on the Lunns Dam Project has included geological mapping and surface geochemical sampling as well as a detailed airborne magnetic and radiometric geophysical survey covering approximately 85% of the licence area. Very limited shallow RAB drilling (four drillholes) has been conducted in the area.
Past exploration work on the Redlands-Whitbarrow Project has included minor surface geochemical sampling as well as a detailed airborne magnetic and radiometric geophysical survey over approximately 20% of the project area. Limited shallow drilling (15 drillholes) has been conducted in the area.
Past exploration work on the Recovery Project has included geological mapping and surface geochemical sampling. Very limited shallow drilling (11 holes) has been conducted in the area focussed primarily on the Swanson’s Trouble gold prospect.
Past exploration work on the Obley Project has included geological mapping, limited surface geochemical sampling and detailed airborne radiometrics and radiometrics over approximately 90% of the licence area. No drilling has been conducted in the area.
BUSINESS STRATEGY/OBJECTIVES OF THE COMPANY
The Company believes that the lack of significant modern exploration on the Projects in a historically under explored area within the highly prospective Lachlan Fold Belt presents a unique strategic opportunity to discover new copper/gold deposits.
The potential of the Projects to host massive copper sulphide mineralisation is considered to have not been well tested and this will be the focus of the Company's work.
The Projects are considered by the Company to be prospective for Besshi style VMS copper mineralisation on the Lunns Dam, Redlands-Whitbarrow and Recovery Projects and copper-gold rich skarn mineralisation on the Obley Project.
The Company's focus will be on target generation and target testing with an exploration program including electromagnetics (airborne, ground and downhole), surface sampling (including shallow bedrock/auger drilling), and reverse circulation percussion and diamond core drilling.
The Company may also will pursue and assess other opportunities in the resource sector over time which complement its business. These new business opportunities may take the form of direct project acquisitions, joint ventures, farm-ins, acquisition of tenements/permits, and/or direct equity participation. The Board will assess the suitability of investment opportunities by utilising its experience in evaluating projects.