Parabellum Resources has flagged strong intersections of up to 4.1% Total Rare Earth Oxide (TREO) mineralisation from its 2022 drilling program at the Khotgor project in Mongolia.

Notable intersections include:

  • 79 metres at 1.1% REO from a depth of 4 metres downhole (KH22-64);
  • 91 metres at 1.7% REO, from a depth of 59 metres, including 40 metres at 2.5% REO from a depth of 63 metres (KH22-67);
  • 67 metres at 1.7% REO, including 27 metres at 2.6% REO from a depth of 177 metres (KH22-60);
  • 13 metres at 4.1% REO from a depth of 54 metres downhole (KH22-66);
  • 54 metres at 1.4% REO from a depth of 105 metres downhole (KH22-68); and
  • 9 metres at 3.4% REO from a depth of 37 metres downhole (KH22-70).

The core from three holes is being stored as whole core for future comminution and metallurgical testwork at the assessment of potential feasibility stage of the project, to be undertaken later in 2023.

Scoping study due in Q2

Last year Parabellum (ASX:PBL) announced it had entered into an agreement with Temarise Limited (UK) that holds the exclusive option to acquire 80% of the Khotgor project, and that decision looks like it’s paying off – with the assay results demonstrating the large scale and attractive grade of the project.

The company says this is a positive development in its plans to finalise the initial Scoping study due in Q2 2023.

“We continued to be very impressed with the progress that has been achieved at Khotgor over the past 12 months with the metallurgical testwork, resource modelling, engineering studies and pilot plant construction and we look forward to presenting further project updates over the next few months,” chairman Mark Hohnen said.

The results from this drilling program are now being incorporated into the geological database. In addition, metallurgical testwork and engineering design is ongoing.

 

 

This article was developed in collaboration with Parabellum Resources Limited (ASX:PBL), a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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