NexMetals Accelerates Drilling at Selkirk Deposit by Adding Another Drill for Resource Expansion
NexMetals Accelerates Drilling at Selkirk
Deposit by Adding Another Drill for Resource
Expansion
Toronto, Ontario--(Newsfile Corp. - June 24, 2025) -
NexMetals Mining Corp. (TSXV: NEXM) (OTC
Pink: PRMLF)
(the "
Company
") announces a drilling progress update and that a second drill has been
added to support the surface drilling program currently underway at its past-producing copper-nickel-
cobalt-platinum group elements ("
Cu-Ni-Co-PGE
") Selkirk Mine in Botswana. The addition of the
second drill is intended to accelerate ongoing work programs focused on resource expansion and
metallurgical flowsheet development.
Highlights
Second Drill Rig Now Added
- With two rigs now active on-site, the 12-hole program will
advance more rapidly, allowing for increased efficiency in twinning historical holes, validating
legacy data, and generating new intercepts to support an updated resource model.
Drilling Progress to Date
- A total of ~
2,050 metres
have been drilled across six holes, with
the seventh and eight holes currently underway
. The drilling targets zones of known
mineralization as well as areas prioritized for potential resource expansion (figure 1).
Assay
results are expected in mid-July
.
Ongoing Resampling of Historical Core
-
34 historical holes
have been identified for
continued resampling to further support the updated geological model.
To date, 29 of 34 holes
have been processed, relogged and resampled for a total of 8,707 metres
.
Metallurgical Testing Underway
- Metallurgical studies are ongoing, focused on supporting the
development of a modern metallurgical flowsheet including the potential for XRT pre-concentration.
This work will be incorporated into an updated Mineral Resource Estimate ("
MRE
") and future
economic evaluations.
Figure 1:
Location of planned drill holes
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Morgan Lekstrom, CEO of the Company
, commented: "We are accelerating work at both Selebi and
Selkirk to highlight the growth potential of these historic deposits. A second drill has been added at
Selkirk to rapidly advance our metallurgical studies and potential resources expansion.
Historically,
Selkirk had a resource over 125 million tonnes (
see historic resource
) however, previous operators did
not consistently assay for cobalt, palladium or platinum, and this data gap is the main reason for our
resampling program. Combined with ongoing drilling, this work will enhance our understanding of the
deposit and help unlock value through a modern metallurgical approach. With both Selebi and Selkirk
having a history of production, we are building on a solid foundation and we believe that modern
technology offers significant upside as we advance toward future resource growth and redevelopment."
The Selkirk Mine remains a core asset for NexMetals with significant potential for redevelopment based
on historical production and encouraging legacy results.
Historical Estimates
The historical mineral estimates which have been prepared in accordance with South African Mineral
Resource Committee (SAMREC) and Australasian Joint Ore Reserves Committee (JORC) standards
are not in compliance with NI 43-101 and NEXM is not treating the historical mineral estimates as
current mineral resource estimates. While management believes that these historical mineral estimates
could be indicative of the presence of mineralization on the Selkirk Mines property, they have been
superseded by the current initial MRE prepared in accordance with CIM (2014) Definitions Standards
incorporated in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
The Historic Estimate at Selkirk has been superseded by the current MRE prepared by SLR Consulting
(Canada) Ltd. ("SLR") and described in "NI 43-101 Technical Report Selkirk Nickel Project, North East
District, Republic of Botswana", and dated January 10, 2025 (with an effective date of June 30, 2024).
Qualified Person
All scientific and technical information in this news release has been reviewed and approved by Sharon
Taylor, VP Exploration of the Company, MSc, P.Geo, and a "qualified person" for the purposes of
National Instrument 43-101.
About NexMetals Mining Corp.
NexMetals Mining Corp. is a mineral exploration and development company that is focused on the
redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the
Company in the Republic of Botswana.
NexMetals is committed to governance through transparent accountability and open communication
within our team and our stakeholders. NexMetals' team brings extensive experience across the full
spectrum of mine discovery and development. Collectively, the team has contributed to dozens of
projects, including work on the Company's Selebi and Selkirk mines. Senior team members each have
on average, more than 20 years of experience spanning geology, engineering, operations, and project
development.
For further information about NexMetals Mining Corp., please contact:
Morgan Lekstrom
CEO and Director
Jaclyn Ruptash
V.P., Communications and Investor Relations
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained herein.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation based on expectations, estimates and projections as at the date of this news
release. Forward-looking information involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information. For the purposes of this release, forward
looking information includes, but is not limited to: the implementation of the objectives, goals and
future plans of the Company including the proposed advancement of the Selkirk Mine as currently
contemplated; the acceleration of ongoing work programs and metallurgical flowsheet development;
the Company's goal of validating legacy data and generating new intercepts to support an updated
resource model; the potential of XRT pre-concentration; the Company's intention of completing an
updated MRE and economic evaluation; the release of assay results and the expected timing thereof;
anticipated upgrades to existing mineral resource estimates on the Selkirk Mine in accordance with NI
43-101; the anticipated timing of results of the mining program at the Selkirk Mine; management's
belief that historical resources could be indicative of the presence of mineralization on the deposits;
and the anticipated benefits of the Company's approach to its resource development plan. These
forward-looking statements, by their nature, require the Company to make certain assumptions and
necessarily involve known and unknown risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in these forward-looking statements. Factors that
could cause actual results to differ materially from such forward-looking information include, but are
not limited to, capital and operating costs varying significantly from estimates; the preliminary nature
of drilling and metallurgical test results; the ability of exploration results to predict mineralization; the
ability of the Company to implement its drilling, geoscience and metallurgical work on its properties
and work plans generally; prefeasibility or the feasibility of mine production; delays in obtaining or
failures to obtain required governmental, environmental or other project approvals; uncertainties
relating to the availability and costs of financing needed in the future; changes in equity markets;
inflation; fluctuations in commodity prices; delays in the development of projects; the other risks
involved in the mineral exploration and development industry; and those risks set out in the
Company's public disclosure record on SEDAR+ (
www.sedarplus.com
) under the Company's issuer
profile. Although the Company believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, undue reliance should not be placed
on such information, which only applies as of the date of this news release, and no assurance can be
given that such events will occur in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained herein.
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