NexMetals Drills 231 Metres of 1.09% CuEq, Including 97 Metres of 1.28% CuEq Establishing Scale, Grade and Expansion Potential at Selkirk
NexMetals Drills 231 Metres of 1.09% CuEq,
Including 97 Metres of 1.28% CuEq
Establishing Scale, Grade and Expansion
Potential at Selkirk
Vancouver, British Columbia--(Newsfile Corp. - December 3, 2025) -
NexMetals Mining Corp. (TSXV:
NEXM) (NASDAQ: NEXM)
(the "
Company
") announces assay results from the final three holes of the
2025 metallurgical drill program at the past producing Copper, Nickel, Cobalt and Platinum Group
Elements ("
Cu-Ni-Co-PGE
") Selkirk Mine in Botswana.
Why This Matters: Consistent grade over large intervals indicates potential for a low strip ratio,
open pit development
(see "
Technical Report
" below)
.
Results from the final 3 holes of the 2025 metallurgical program confirm wide, continuous zones of
mineralization suitable for the ongoing metallurgical test work.
SMET-25-009: wide interval of continuous mineralization
231.00 metres of 1.09% CuEq
(0.39% Cu, 0.38% Ni, 0.64 ppm Pd, 0.15 ppm Pt)
incl. 97.00 metres of 1.28% CuEq
(0.46% Cu, 0.43% Ni, 0.76 ppm Pd, 0.18 ppm Pt
incl. 47.90 metres of 1.42% CuEq
(0.52% Cu, 0.49% Ni, 0.83 ppm Pd, 0.17 ppm Pt)
All mineralization from SMET-25-011 was intercepted below the Mineral Resource
Estimate ("MRE") and the conceptual pit demonstrating the potential for expansion of the
deposit at depth.
Mineralization intercepted above the MRE and within the current conceptual pit shell demonstrates
the potential for expansion of the deposit toward the surface.
All assay results reported to date will be incorporated into an updated
MRE
.
Drill core from all eleven 2025 holes reported to date is now supporting the metallurgical testwork
underway at Blue Coast Research in British Columbia. This work will help optimize the flowsheet,
maximize recoveries, and advance the evaluation of separating the concentrate.
Current cut-off of US$25.00 per tonne net smelter return defined in the 2024 MRE translates to
0.46% CuEq. Any material above this cut-off grade could potentially be mined.
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/7759/276734_4b449c0b64264a87_002full.jpg
Morgan Lekstrom, CEO of the Company, commented:
"The takeaway from this metallurgical drilling
program is the sizable, mineralized continuity across this deposit. Delivering wide intervals of consistent
high-grade mineralization reinforces just how big this system is and gives us the confidence to advance
the next stage of our technical work. With all assays from the 2025 metallurgical drill program now
reported, our technical team is focused on advancing the metallurgical work currently underway and
ongoing assessment of processing options. This next stage will refine the flowsheet, confirm recoveries
across the program, and drive the technical work that will inform future development decisions. Selkirk is
increasingly demonstrating its potential as a significant additional value driver for NexMetals."
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-25-009
77.00
308.00
231.00
123
0.39
0.38
0.02
0.64
0.15
0.07
1.09
incl.
129.00
226.00
97.00
66
0.46
0.43
0.03
0.76
0.18
0.08
1.28
and
257.00
304.90
47.90
33
0.52
0.49
0.03
0.83
0.17
0.07
1.42
SMET-25-010
110.00
281.00
171.00
102
0.29
0.29
0.02
0.51
0.12
0.05
0.85
incl.
110.00
268.00
158.00
94
0.30
0.30
0.02
0.52
0.12
0.05
0.86
incl.
146.00
196.00
50.00
30
0.40
0.43
0.02
0.68
0.16
0.08
1.18
SMET-25-011
112.00
125.00
13.00
8
0.15
0.19
0.01
0.35
0.09
0.03
0.52
SMET-25-011
171.10
324.00
152.90
95
0.25
0.26
0.02
0.54
0.12
0.05
0.79
incl.
275.10
319.00
43.90
29
0.35
0.34
0.02
0.75
0.16
0.06
1.07
OUTSIDE MRE AND WITHIN CONCEPTUAL PIT
SMET-25-009
77.00
102.00
25.00
13
0.21
0.23
0.02
0.33
0.08
0.05
0.61
OUTSIDE MRE AND BENEATH CONCEPTUAL PIT
SMET-25-009
294.00
308.00
14.00
10
0.40
0.55
0.04
0.96
0.16
0.06
1.42
SMET-25-011
112.00
125.00
13.00
8
0.15
0.19
0.01
0.35
0.09
0.03
0.52
SMET-25-011
171.10
324.00
152.90
95
0.25
0.26
0.02
0.54
0.12
0.05
0.79
incl.
275.10
319.00
43.90
29
0.35
0.34
0.02
0.75
0.16
0.06
1.07
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
(%)
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.
Table 2: Drill Collar Information Selkirk Deposit
HOLE ID
1
Easting
1
Northing
1
Elevation
Dip
Azimuth
Hole Length
(m)
SMET-25-009
575330.4
7642547.7
989.3
-88.1
334.7
455.2
SMET-25-010
575284.7
7642459.4
984.4
-70.4
36.3
388.9
SMET-25-011
575205.0
7642236.3
982.7
-68.8
39.4
403.6
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
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 preparation of an updated MRE
incorporating assay results received to date; the Company's expectations as to the size and continuity
of the deposit; the Company's goal of optimizing the flowsheet, maximizing recoveries and advancing
the evaluation of separating the concentrate; 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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