Parabellum Resources (ASX:PBL) has announced an exclusive option to acquire 80% of the Khotgor Rare Earth Element (REE) project in Mongolia and holds 100% interest in four projects in a highly prospective region in New South Wales, Australia.
The company is pleased to update shareholders that the final Ground EM program has re-commenced ahead of schedule, environmental drill approvals have been submitted, and discussions with three drill contractors for a maiden drill program in late Q1 2023 are underway.
The company is disappointed that extreme weather conditions have delayed its exploration program, however, with improved weather conditions, it hopes to accelerate its exploration.
The high priority EM targets are for copper and gold.