NexMetals Drills 201.30 metres of 0.91% CuEq, including 158.75 metres of 1.00% CuEq Near Surface Emphasizing Consistent Mineralization and Expansion Potential at Selkirk
NexMetals Drills 201.30 metres of 0.91% CuEq,
including 158.75 metres of 1.00% CuEq Near
Surface Emphasizing Consistent
Mineralization and Expansion Potential at
Selkirk
Vancouver, British Columbia--(Newsfile Corp. - September 18, 2025) -
NexMetals Mining Corp.
(TSXV: NEXM) (NASDAQ: NEXM)
(the "
Company
") announces assay results from 2 holes of the 12
hole metallurgical drilling program completed at the past-producing Copper, Nickel, Cobalt and Platinum
Group Elements ("
Cu-Ni-Co-PGE
") Selkirk Mine in Botswana. Drill core from eleven of these holes will
be used in support of ongoing metallurgical testwork while further highlighting the scale and consistency
of the Selkirk deposit.
Why This Matters: Scale, Grade, Expansion
Results demonstrate the scale and consistency of mineralization.
SMET-25-003: wide interval of continuous mineralization
201.30 metres of 0.91% CuEq
(0.33% Cu, 0.30% Ni, 0.55 ppm Pd, 0.13 ppm Pt)
Incl. 158.75 metres of 1.00% CuEq
(0.36% Cu, 0.33% Ni, 0.60 ppm Pd, 0.13 ppm
Pt)
SMET-25-002: wide interval of continuous mineralization
85.00 metres of 0.98% CuEq
(0.34% Cu, 0.31% Ni, 0.65 ppm Pd, 0.14 ppm Pt)
Mineralization outside the Mineral Resource Estimate ("MRE")
and within the current
conceptual pit shell, demonstrating the potential for expansion of the deposit toward the
surface.
SMET-25-002: starting at 26.10 metres from surface
19.90 metres of 0.58% CuEq (0.18% Cu, 0.19% Ni, 0.43 ppm Pd, 0.09 ppm Pt)
Large widths of near-surface mineralization support open-pit development potential with a low strip
ratio (see technical report).
Current cut-off of US$25.00 per tonne net smelter return defined in the MRE translates to 0.46%
CuEq. Any material above this cut-off grade could be potentially mined.
Selected samples from this drilling program are at Blue Coast Research labs in British Columbia
for variability testing and flowsheet optimization testwork.
This marks the first 2 metallurgical drill holes from the 2025 program, with assays to be released
on an ongoing basis.
Figure 1:
Location of 2025 metallurgical drill holes, resampled drillholes and Mineral Resource
Estimate.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/266919_e43e732344a5c9b9_002full.jpg
Morgan Lekstrom, CEO of the Company, commented:
"These new drill results have delivered
above and beyond what we have anticipated including large, continuous zones of mineralization that
confirm the scale of just how big the Selkirk deposit could be. By collecting both base metal and PGE
assays throughout the entirety of each hole, we have identified wide intervals of mineralization both
above the current MRE, yet still within the conceptual pit shell and also immediately below the conceptual
pit.
Combined with the ongoing resampling and metallurgical programs, these results not only provide
essential material for processing studies but also indicate meaningful opportunities to improve the strip
ratio. Selkirk continues to demonstrate substantial upside, and with our dual focus on metallurgical
optimization and resource growth, we are increasingly defining the full scale and potential of this
deposit."
Assay results are reported below in Table 1 and drill hole collar details are provided in Table 2.
Table 1: Assay Results Selkirk Deposit
HOLE ID
FROM
(m)
TO
(m)
1
LENGTH
(m)
Cu
(%)
NI
(%)
Co
(%)
Pd
(ppm)
Pt
(ppm)
Au
(ppm)
2
CuEq
(%)
SMET-25-002
26.10
207.00
180.90
0.26
0.25
0.01
0.52
0.11
0.04
0.77
incl
53.00
78.00
25.00
0.21
0.22
0.01
0.43
0.09
0.03
0.65
and
122.00
207.00
85.00
0.34
0.31
0.02
0.65
0.14
0.05
0.98
incl
195.00
207.00
12.00
0.48
0.35
0.02
0.87
0.16
0.10
1.26
SMET-25-003
12.70
214.00
201.30
0.33
0.30
0.02
0.55
0.13
0.05
0.91
incl.
44.25
203.00
158.75
0.36
0.33
0.02
0.60
0.13
0.06
1.00
incl.
73.00
195.00
122.00
0.39
0.36
0.02
0.63
0.14
0.07
1.07
OUTSIDE MRE AND INSIDE CONCEPTUAL PIT
SMET-25-002
26.10
46.00
19.90
0.18
0.19
0.01
0.43
0.09
0.04
0.58
SMET-25-003
12.70
25.00
12.30
0.21
0.19
0.01
0.37
0.08
0.03
0.59
OUTSIDE MRE AND BENEATH CONCEPTUAL PIT
SMET-25-003
200.00
214.00
14.00
0.27
0.24
0.02
0.48
0.11
0.04
0.76
1
Length refers to drillhole length and not true width.
2
CuEq% calculated using the formula Cu% + Ni%*(55.605/53.913) + Pd g/t*(22.948/53.913) + Pt g/t*(14.891/53.913) using metal prices and recoveries
listed in the 2025 Technical Report.
3
Interval is outside MRE but inside the conceptualized open pit shell.
HOLE ID
FROM
(m)
TO
(m)
1
LENGTH
(m)
Cu
(%)
NI
(%)
Co
(%)
Pd
(ppm)
Pt
(ppm)
Au
(ppm)
2
CuEq
(%)
Table 2: Drill Collar Information Selkirk Deposit
HOLE ID
1
Easting
1
Northing
1
Elevation
Dip
Azimuth
Hole Length
(m)
SMET-25-002
575370.9
7642476.5
986.8
-72.1
30.5
401.20
SMET-25-003
575450.8
7642666.4
996.9
-69.0
27.2
295.85
1
Coordinates are WGS84z35S with geoidal elevations
Technical Report
The MRE on the Selkirk Mine is supported by the Technical Report entitled "NI 43-101 Technical Report
Selkirk Nickel Project, North East District, Republic of Botswana", dated January 8, 2025 (with an
effective date of November 1, 2024). Reference should be made to the full text of the Technical Report
for the assumptions, qualifications and limitations set forth therein, which was prepared in accordance
with NI 43-101 and Subpart 1300 of Regulation S-K and is available on SEDAR+ (
www.sedarplus.ca
)
and EDGAR (
www.sec.gov
), in each case, under NEXM's issuer profile.
Quality Control
The Selkirk metallurgical drill program was completed by Discovery Drilling using a Boyles 56 machine.
Drill core samples are HQ (63.5 mm diameter) that were sawn in half with one half sawn in half again to
produce quartered core. Selected portions of the remaining core were sent to Blue Coast Research for
metallurgical flotation studies with the reminder retained for reference purposes. The quartered core
samples submitted to the lab were generally 1 metre in length. 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). Analyses for Pt, Pd, and Au are by fire
assay (30 grams nominal sample weight) with an ICP-AES finish (PGM-ICP23).
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 and Subpart 1300 of Regulation S-K.
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
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Neither the TSX Venture Exchange and its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) nor the Nasdaq Stock Market LLC 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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements" within the meaning of the United States
federal securities laws and "forward-looking information" within the meaning of applicable Canadian
securities legislation (collectively, "forward-looking information") 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 release of metallurgical testing
results and the expected timing thereof; management's belief that historical resources could be
indicative of the presence of mineralization on the deposits; the potential for near surface expansion
of the deposit; the potential for open-pit development with a low strip ratio; the potential for material
above the cut-off grade to be mined; 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 filings with the U.S. Securities and Exchange Commission on EDGAR
(
www.sec.gov
) and public disclosure record on SEDAR+ (
www.sedarplus.ca
), in each case, 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.
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