NexMetals Drills 13.50 Metres of 3.68% CuEq Expanding Mineralization Significantly Below Selebi North Resource Footprint
NexMetals Drills 13.50 Metres of 3.68% CuEq
Expanding Mineralization Significantly Below
Selebi North Resource Footprint
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2025) -
NexMetals Mining Corp. (TSXV:
NEXM) (OTC Pink: PRMLD)
(the "
Company
" or "
NEXM
") is pleased to report assay results from the
first two 2025 resource expansion holes with continued drilling at Selebi North Underground ("
SNUG
")
beyond the 2024 Mineral Resource Estimate ("
MRE
").
Key Highlights:
SNUG-25-184: South Limb, 183 metres down plunge of 2024 MRE
13.50 metres of 3.68% CuEq (1.13% Cu, 1.24% Ni, 0.06% Co)
and N2 Limb, 300 metres down plunge of 2024 MRE
6.25 meters of 2.16% CuEq (0.62% Cu, 0.75% Ni, 0.04% Co)
SNUG-25-185: N2 Limb, 65 metres down dip of 2024 MRE
5.95 metres of 4.14% CuEq (2.87% Cu, 0.62% Ni, 0.03% Co)
A Borehole Electromagnetic ("
BHEM
") survey completed in SNUG-25-184 revealed strong off-
hole conductors, confirming the South Limb and N2 zones remain open down-plunge (see news
release May 1, 2025).
Follow-up hole SNUG-25-186 was drilled to test these conductors
and
interested 16.20
metres of South Limb mineralization 132 metres down-plunge
of SNUG-25-184 (see news
release May 27, 2025).
South Limb mineralization has been extended 315 metres down-plunge beyond the 2024
resource model
, based on holes SNUG-25-184 and 186. Assays for additional holes are
pending.
New mineralization discovered in recently completed drill hole SNUG-25-189 includes
5.20 metres of mineralization at South Limb and 15.50 metres of mineralization at N2
Limb
.
Drill hole SNUG-25-190, currently in progress, is stepping out to test the strike extent of
mineralization.
Total metres not included in the MRE is 37,113 metres in 85 holes.
Figure 1:
Location of drill holes relative to the MRE and underground infrastructure.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/257262_00f4425774865acd_002full.jpg
Drill core photos for all holes reported herein, are accessible by
clicking here
and can also be found on
the Company's website at
www.nexmetalsmining.com
.
To view the 3D modeling, please visit the following link
https://vrify.com/decks/19334
.
Morgan Lekstrom, CEO of the Company
, commented: "The results from drill holes 184 and 185
continue to demonstrate the impressive step-out success and the broader scale of mineralization
beyond the boundaries of the current resource. Drilling has further extended the deposit intercepting
mineralization roughly 315 metres down-plunge, well past its modeled limits. Given our existing resource
grades of over 3% CuEq, this result further validates the potential of this system. Our application of
BHEM, combined with a deep technical understanding of the deposit, is allowing us to target these
deeper zones with incredible precision. The system remains open, and the BHEM results combined with
these first assays reinforces our confidence that this mineralized corridor continues at depth."
Assay results have been received and reported below in Table 1 and drill hole collar details are provided
in Table 2. Assays are pending for all other drill holes described herein.
The various mineralized zones have been historically mined and subsequently named N2 Limb, N3 Limb
and South Limb to demarcate their location on the folded mineralized horizon. Additional drilling is
needed to properly determine true width of mineralization on each limb and define the folded
mineralization.
T
able 1: Assay Results Selebi North Deposit
Hole-ID
From
(m)
To
(m)
Length
(m)
1
Cu
(%)
Ni
(%)
Co
(%)
2
Limb
CuEq
(%)
3
SNUG-25-184
772.60
786.10
13.50
1.13
1.24
0.06
South Limb
3.68
incl.
772.60
775.75
3.15
0.90
1.90
0.09
South Limb
4.81
and
779.05
784.00
4.95
1.76
1.85
0.09
South Limb
5.57
SNUG-25-184
882.75
889.00
6.25
0.62
0.75
0.04
N2
2.16
incl.
886.20
887.80
1.60
0.75
1.85
0.08
N2
4.56
SNUG-25-185
356.70
362.65
5.95
2.87
0.62
0.03
N2
4.14
incl.
356.70
361.30
4.60
3.63
0.77
0.04
N2
5.21
1
Length refers to drillhole length and not true width. True widths are unknown.
2
Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.
3
CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper
recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.
Table 2: Drill Collar Information Selebi North Deposit
HOLE ID
Mine East
Mine
North
Elevation
Dip
Mine
Azimuth
Hole Length
Comment
SNUG-25-184
35367.9
84410.0
81.2
-57.5
166.9
956.40
Rig #2 810mL
P5
SNUG-25-185
35092.2
84546.6
-42.4
-76.7
195.4
395.60
Rig #3 925mL
P8
Next Steps
Completed drill hole SNUG-25-189 was drilled between SNUG-25-096-W1 and SNUG-25-184 and
intersected 5.20 metres of mineralization at South Limb and 15.50 metres of mineralization at N2 Limb.
Follow-up drilling is underway, with drill hole SNUG-25-190 targeting the strike extent at a distance of
115 metres from SNUG-25-184 to further evaluate the continuity and scale of both the South Limb and
N2 mineralized systems.
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.
Quality Control
The underground drilling program is being carried out through an agreement with Forage Fusion Drilling
Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training
of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a
diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to
1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis
was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples
and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every
batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are
completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).
Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.
Technical Report
The MRE on the Selebi Mine is supported by the technical report entitled "Technical Report, Selebi
Mines, Central District, Republic of Botswana" and dated September 20, 2024 (with an effective date of
June 30, 2024) (the "
Selebi Technical Report
"), and prepared by SLR Consulting (Canada) Ltd. for
NEXM. Reference should be made to the full text of the Selebi Technical Report, which was prepared in
accordance with NI 43-101 and is available on SEDAR+ (
www.sedarplus.ca
) under NEXM's issuer
profile.
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: ongoing and expected drilling at SNUG; possible
expanded mineralization beyond the existing MRE; the release of assay results and the expected
timing thereof; the expectation the mineralized corridor continues at depth; the expected continuity
and scale of the South Limb and N2 mineralized systems, the implementation of the objectives, goals
and future plans of the Company including the proposed advancement of the Selebi Mine as currently
contemplated; the expectation that exploration activities (including drill results) will accurately predict
mineralization; the expectation that the Company will implement its drilling, geoscience and
metallurgical work on its properties and work plans generally; the implementation of the objectives,
goals and future plans of the Company including the proposed advancement of the Selebi Mine as
currently contemplated; the effective targeting activities proposed by the Company; the benefits of the
Company's approach to exploration; management's belief that the historical resource could be
indicative of the presence of mineralization on the deposits; and the anticipated benefits of the
Company's approach to the 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 metallurgical test
results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine
production; the risk that mineralized corridor will not continue at depth; the risk that assay results will
not be as anticipated or received when anticipated; the risk that continuity and scale of the South Limb
and N2 mineralized systems will not be as expected; 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.ca
) under NEXM'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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