NexMetals Drills 219 Metres of 1.03% CuEq, Including 157 Metres of 1.21% CuEq Demonstrating the Scale of Mineralization and Expansion Potential at Selkirk
NexMetals Drills 219 Metres of 1.03% CuEq,
Including 157 Metres of 1.21% CuEq
Demonstrating the Scale of Mineralization and
Expansion Potential at Selkirk
Vancouver, British Columbia--(Newsfile Corp. - October 7, 2025) -
NexMetals Mining Corp. (TSXV:
NEXM) (NASDAQ: NEXM)
(the "
Company
") announces assay results from 4 additional 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 11 of these holes will be
used in support of ongoing metallurgical testwork.
This brings the total number of released holes to
8 of 11 metallurgical drill holes from the 2025
program (see news releases dated September 18
th
and 23
rd
, 2025), with additional assays expected to be released on an ongoing basis.
Why This Matters: Scale, Grade, Expansion
Results continue to demonstrate the scale and consistency of mineralization.
SMET-25-005: wide interval of high-grade mineralization
219.00 metres of 1.03% CuEq
(0.39% Cu, 0.33% Ni, 0.61 ppm Pd, 0.14 ppm Pt)
157.00 metres of 1.21% CuEq
(0.46% Cu, 0.38% Ni, 0.72 ppm Pd, 0.16 ppm Pt)
SMET-25-006: wide interval of mineralization
66.35 metres of 1.17% CuEq
(0.43% Cu, 0.41% Ni, 0.65 ppm Pd, 0.14 ppm Pt)
Mineralization outside the Mineral Resource Estimate ("MRE")
and within the current
conceptual pit shell demonstrates the potential for expansion of the deposit toward the
surface.
SMET-25-005: starting at 47.00 metres from surface
48.00 metres of 0.57% CuEq (0.19% Cu, 0.20% Ni, 0.34 ppm Pd, 0.08 ppm Pt)
Large widths of near-surface mineralization support open-pit development potential with a low strip
ratio (see "
Technical Report
" below).
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 included in the MRE.
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/7759/269421_d9826a40e401fa25_002full.jpg
Morgan Lekstrom, CEO of the Company, commented:
"These latest drill results reinforce the
impressive scale and consistency of Selkirk. Mineralization remains open in multiple directions, with
wide near-surface zones highlighting resource expansion and open-pit potential.
With each new hole, we
are unlocking more of Selkirk's true size, strength, and opportunity for expansion, positioning us well for
the next steps in advancing the project."
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)
2
Est. True
Thickness
(m)
Cu
(%)
NI
(%)
Co
(%)
Pd
(ppm)
Pt
(ppm)
Au
(ppm)
3
CuEq
(%)
SMET-25-005
47.00
266.00
219.00
121
0.39
0.33
0.02
0.61
0.14
0.07
1.03
incl.
109.00
266.00
157.00
86
0.46
0.38
0.02
0.72
0.16
0.08
1.21
incl.
158.00
220.00
62.00
34
0.62
0.49
0.03
0.99
0.22
0.10
1.61
SMET-25-006
20.00
86.35
66.35
36
0.43
0.41
0.03
0.65
0.14
0.05
1.17
SMET-25-007
46.30
127.00
80.70
48
0.29
0.29
0.01
0.61
0.13
0.06
0.89
incl.
83.00
124.00
41.00
23
0.33
0.34
0.02
0.69
0.14
0.07
1.02
SMET-25-008
33.00
132.00
99.00
56
0.24
0.25
0.01
0.53
0.13
0.04
0.76
OUTSIDE MRE AND WITHIN CONCEPTUAL PIT
SMET-25-005
47.00
95.00
48.00
26
0.19
0.20
0.01
0.34
0.08
0.05
0.57
OUTSIDE MRE AND BENEATH CONCEPTUAL PIT
SMET-25-006
113.00
129.00
16.00
9
0.31
0.19
0.02
0.70
0.08
0.05
0.82
SMET-25-008
123.00
132.00
9.00
5
0.25
0.21
0.01
0.42
0.32
0.04
0.73
1
Length refers to drillhole length and not true width.
2
True thickness is estimated using the MRE wireframe where available.
3
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.
4
Interval is outside MRE but inside the conceptualized open pit shell.
HOLE ID
FROM
(m)
TO
(m)
1
LENGTH
(m)
2
Est. True
Thickness
(m)
Cu
(%)
NI
(%)
Co
(%)
Pd
(ppm)
Pt
(ppm)
Au
(ppm)
3
CuEq
(%)
Table 2: Drill Collar Information Selkirk Deposit
HOLE ID
1
Easting
1
Northing
1
Elevation
Dip
Azimuth
Hole Length
(m)
SMET-25-005
575354.5
7642634.2
996.9
-70.6
43.0
364.9
SMET-25-006
575475.3
7642848.6
991.9
-88.0
65.1
253.10
SMET-25-007
575587.6
7642717.7
993.0
-69.1
32.0
187.70
SMET-25-008
575550.6
7642643.4
990.0
-70.9
35.9
177.75
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 one 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
1-833-770-4334
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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 and on the timing anticipated;
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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