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With tonnes of REEs in Mongolia, here are the next steps for Parabellum www.stockhead.com.au
Parabellum has defined a maiden rare earth element resource which demonstrates the scale, grade and potential of its Khotgor project in Mongolia ahead of its upcoming Scoping Study.
And while the contained resource of 2.2Mt of total rare earth oxides (TREO) is substantial at such an early stage, the endowment of valuable magnet REEs neodymium and praseodymium (making up 20% of the TREOs) is equally encouraging.
If that isn’t tasty enough, Parabellum Resources (ASX:PBL) noted a number of other potentially useful elements separate to the Khotgor REE resource have also been identified and will be followed up in future studies.
These include some 5.5Mt of P2O5 that could be evaluated as a possible fertiliser product at the Definitive Feasibility Stage.
“Parabellum is pleased to report the maiden Khotgor Mineral Resource Estimate to shareholders,” chairman Mark Hohnen said.
“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.”
The initial Scoping Study is due in the second quarter of 2023 and will be followed by the DFS stage of the project.
Khotgor REE project
Parabellum has a 30% interest in Temarise Limited (UK), which holds the exclusive option to acquire 80% of Khotgor, which is located in the South Gobi province of Mongolia about 65km north of Dalanzadgad and about 530km south-southwest of Ulaanbaatar.
The Khotgor deposit is a relatively vertical, cylindrical body with a steep plunge to the north hosted within Jurassic-aged nepheline syenites.
Several phases of exploration work including targeted ground-based geophysical surveys and drilling of 59 diamond drill holes were carried out at Khotgor between 2005 and 2012, which resulted in the estimation of a mineral resource prepared to the older JORC 2004 standard.
Temarise completed an exploration program in 2022 as part of a project evaluation and Mineral Resource reassessment, which has led to the current JORC 2012 resource.
Over the next 12 months, Parabellum will continue to develop the resource database at Khotgor and future mine planning will focus on the higher-grade areas of the resource above the 1.5% REO cut-off.
As part of this, the company will carry out an infill drilling and trenching program in the second and third quarters to collect additional samples for the DFS and infill the early production stages of the project.
This article was developed in collaboration with Parabellum Resources (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.
Published Date:2023-02-13
