Key Takeaways:
NexMetals Mining Corp. (TSXV: NEXM) (NASDAQ: NEXM) reported a high-grade copper-nickel intercept of 10.40 metres grading 6.82 percent copper equivalent at its Selebi Main project in Botswana, located 320 metres down-dip from the 2024 Mineral Resource Estimate.
"Drilling at Selebi Main continues to demonstrate strong continuity within the Flexure Zone, with mineralization now extending well beyond the limits of the 2024 MRE," Sean Whiteford, CEO of NexMetals, said in a statement. "Importantly, all holes reported today have returned grades and widths above the 2024 MRE cut-off, reinforcing the quality and consistency of the system."
The results confirm strong down-plunge continuity from the Selebi Main deposit, which, combined with the Selebi North deposit, hosts an Inferred Mineral Resource of 24.7 million tonnes at 3.40 percent copper equivalent. Another key intercept, hole SMD-25-203, hit 16.10 metres of sulphide mineralization 620 metres beyond the current resource boundary.
Today's results suggest the potential for a significant expansion of the project's resource base. The company is accelerating its drill program with five active rigs and tightening drill spacing, with the goal of releasing an updated Mineral Resource Estimate in the second half of 2026.
The ongoing surface drilling program is targeting the gap between the Selebi Main and North deposits. The results from hole SMD-26-209, which included a 5.90-metre subsection grading 7.21 percent copper equivalent, are consistent with a previous hole located 350 metres to the northeast, demonstrating expansion potential within the Flexure Zone.
Drilling has also revealed the potential for a new, third mineralized horizon. Hole SMD-26-208 intersected three mineralized horizons, including a lower zone and a newly defined "Lower Zone 2" that returned 7.45 metres of 2.05 percent copper equivalent. These findings, supported by borehole electromagnetic data, are helping define new targets for resource expansion.
NexMetals has completed 22,061 metres of drilling to date as part of the current program. Based on the success of wide step-out holes like SMD-25-201 and SMD-25-203, the company is now infill drilling with a tighter 200-metre spacing. This strategy is designed to quickly advance the new zones toward inclusion in an updated resource estimate.
The existing Selebi Mines Project holds a combined Indicated Resource of 3.0 million tonnes at 2.92 percent copper equivalent and an Inferred Resource of 24.7 million tonnes at 3.40 percent copper equivalent. The current drill campaign aims to significantly increase the tonnage of this NI 43-101 compliant resource.
This article is for informational purposes only and does not constitute investment advice.
