NexMetals Drills 32.45 Metres of 4.61% CuEq Including 5.88% CuEq Over 9.65 Metres Showing Continuity of High-Grade Mineralization at Selebi North
NexMetals Drills 32.45 Metres of 4.61% CuEq
Including 5.88% CuEq Over 9.65 Metres
Showing Continuity of High-Grade
Mineralization at Selebi North
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2026) -
NexMetals Mining Corp. (TSXV:
NEXM) (NASDAQ: NEXM)
(the "
Company
" or "
NEXM
") reports assay results from an additional three
drill holes successfully intersecting high-grade mineralization at the Selebi North Underground ("
SNUG
")
deposit. Drill holes SNUG-25-191, 192 and 194 were designed to test the strike continuity of
mineralization in the down plunge extent of the South Limb of the Selebi North deposit.
Highlights
Drill Hole SNUG-25-194: intersected South Limb (Figure 1)
South Limb: 32.45 metres of 4.61% CuEq (1.61% Cu, 1.46% Ni)
including: 7.90 metres of 5.85% CuEq (1.11% Cu, 2.30% Ni)
and: 9.65 metres of 5.88% CuEq (2.35% Cu, 1.72% Ni)
Results continue to strengthen confidence in the size and continuity of the deposit.
Next Steps
Update the Mineral Resource Estimate ("
MRE
") with the 2025 resource expansion drillholes and
updated metallurgical test results.
Drilling is ongoing and drill hole SNUG-25-200 is currently testing the down plunge extension of N3.
Upon completion, the SNUG drill will transition to surface drilling for the 2026 Selebi Main resource
expansion program (see news release dated January 15, 2026).
Deliver assay results for SNUG-25-197 and SNUG-25-199 which are currently pending.
Figure 1:
Location of 2025 drill holes relative to the 2024 MRE and underground infrastructure.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/281748_c6ba43fb1439cb03_002full.jpg
Sean Whiteford, CEO of the Company, commented:
"These impressive assay results from SNUG-
25-194 continue to confirm high grade continuity along the down plunge extension of the South Limb and
reinforce our confidence in the growth potential of the deposit. Since the initial 2024 MRE, an additional
42,000 metres of drilling has been completed, and mineralization has been extended to a distance of
over 315 metres beyond the lower extent of the resource (see news release dated
August 13, 2025
).
These results will be incorporated into an updated MRE, in 2026."
Total metres drilled as part of the 2025 Selebi North Underground resource expansion program is 9,617
metres in 10 completed holes, 6 abandoned holes and 1 in-progress hole. Assay results for three of
these holes are reported below in Table 1 and drill hole collar details are provided in Table 2. SNUG-25-
191 and SNUG-25-192 were step-out holes to test South Limb mineralization along strike, and this
drilling was required for the updated MRE. Both holes intersected South Limb mineralization outside the
thick zone of mineralization in the fold nose.
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.
Table 1: Assay Results Selebi North Deposit
Hole-ID
From
(m)
To
(m)
Length
(m)
1
Cu
(%)
Ni
(%)
Co
(%)
2
Limb
CuEq
(%)
3
SNUG-25-191
666.60
668.00
1.40
0.64
1.67
0.07
South
4.08
SNUG-25-192
796.85
797.45
0.60
1.20
1.13
0.04
South
3.51
SNUG-25-194
789.10
821.55
32.45
1.61
1.46
0.08
South
4.61
incl
789.10
797.00
7.90
1.11
2.30
0.12
South
5.85
and
802.50
812.15
9.65
2.35
1.72
0.09
South
5.88
and
813.80
816.75
2.95
2.14
1.39
0.07
South
5.00
and
818.80
821.55
2.75
2.02
1.98
0.10
South
6.09
1
Length refers to drillhole length and not true width. True widths are unknown because of widely spaced drillholes in folded mineralized horizon.
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, and 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-25-191
35367.1
84410.6
81.18
-62.2
158.8
752.7
Rig #2 810mL P5
SNUG-25-192
35367.1
84410.5
81.19
-56.2
155.5
857.7
Rig #2 810mL P5
SNUG-25-194
35366.9
84410.6
81.22
-55.4
160.0
950.8
Rig #2 810mL P5
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.
Quality Control
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 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.
About NexMetals Mining Corp.
NexMetals Mining Corp. is a TSX.V and NASDAQ listed mineral exploration and development company
focused on redeveloping the past-producing Selebi and Selkirk copper-nickel-cobalt-platinum group
element mines in Botswana. NexMetals has confirmed the scale of mineralization is larger than historical
estimates, supported by NI 43-101-compliant resource estimates, with ongoing down-hole geophysics,
drilling, and metallurgical programs aimed at expanding resources and supporting future economic
studies. The Company is led by an experienced management and technical team with a proven track
record in global mineral projects, emphasizing disciplined execution, transparent governance, and long-
term stakeholder value creation.
For further information about NexMetals Mining Corp., please contact:
Sean Whiteford
CEO
Jaclyn Ruptash
V.P., Communications and Investor Relations
1-833-770-4334
Follow Us
X:
https://x.com/NexMetalsCorp
LinkedIn:
https://www.linkedin.com/company/NexMetalsMiningCorp
Facebook:
https://www.facebook.com/NexMetalsMiningCorp
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: ongoing
and expected drilling at SNUG; the Company's belief in expanded mineralization beyond the existing
MRE; the release of assay results and the expected timing thereof; the expected continuity and scale
of the South Limb, N2 and N3 mineralized systems; the Company's intention to transition to surface
drilling at SNUG; the Company's intention to update its MRE in 2026; 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, N2 and N3 mineralized systems will not be as expected; additional drilling is needed to properly
determine true width of mineralization on each limb and define the folded mineralization; 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/281748