NexMetals Reports 11.15 Metres of 7.65% CuEq (3.10% Cu, 2.21% Ni) at Selebi Main, Highlighting a Kilometre-Scale Trend of Thick, High-Grade Massive Sulphides
NexMetals Reports 11.15 Metres of 7.65%
CuEq (3.10% Cu, 2.21% Ni) at Selebi Main,
Highlighting a Kilometre-Scale Trend of Thick,
High-Grade Massive Sulphides
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) -
NexMetals Mining Corp. (TSXV:
NEXM) (NASDAQ: NEXM)
("
NEXM
" or the "
Company
") is pleased to report assay results from drill
holes SMD-26-210, 212-W1, 213 and 214, part of its 30,000-metre surface drilling program targeting
the emerging Flexure Zone ("
Flexure Zone
") within the Selebi Main deposit in Botswana (see Figure 1).
The latest results continue to validate the Company's data-driven exploration model, with drilling
continuing to intersect thick, high-grade massive sulphides beyond the limits of the 2024 Mineral
Resource Estimate ("
2024 MRE
"). Together with borehole electromagnetic ("
BHEM
") targeting, these
results define a growing kilometre-scale trend that remains open and supports the expansion potential of
the Selebi system.
Highlights:
What You Need to Know: Four New Intersections and Strong Intercept from SMD-26-212-W1
Drill hole SMD-26-212-W1 intersected a
11.15 metre interval of massive sulphides grading
7.65% CuEq (3.10% Cu, 2.21% Ni), one of the most significant massive sulphide
intercepts drilled at Selebi Main.
The intercept confirms an emerging kilometre-scale trend of thick, high-grade massive sulphides,
extending beyond the 2024 MRE.
All four drill holes intersected sulphide mineralization, including multiple intervals of massive
sulphides.
The Flexure Zone is now defined by widely spaced drill holes approximately 200-300 metres apart,
demonstrating significant lateral extent and continuity.
Modeled BHEM anomalies show continuation north of drilling, indicating the system remains open
for expansion.
What Does This Mean?
Drilling at a nominal 200-metre spacing continues to intersect thick, high-grade massive sulphides
demonstrating the growing scale of the Selebi Main deposit.
SMD-26-212-W1 closely replicates SMD-25-205 (
11.05 metres of 7.31% CuEq:
see news
release dated February 26, 2026
) and correlates with historic hole sd119 (
26.1m of 8.29% CuEq,
3.39%Cu, 2.38% Ni:
see Selebi Technical Report), demonstrating that the Flexure Zone contains
multiple thick, high-grade massive sulphide intersections.
These results now outline a mineralized trend exceeding one kilometre in strike length,
representing a compelling growth opportunity at Selebi Main.
The close correlation between drill hole results and the strongest BHEM conductors validates the
Company's data-driven exploration approach and provides confidence in additional high-priority
targets along strike.
Next Steps
The 2026 Mineral Resource Estimate ("
2026 MRE
") remains on track for completion in the third
quarter of 2026.
The Company has engaged TECT Geological Consulting to develop an integrated three-
dimensional geological and structural model for Selebi North and Selebi Main. The model is
expected to enhance the Company's understanding of the geological controls of mineralization
across the mining license, support future resource growth and improve drill targeting of thicker,
higher-grade zones, and identify potential regional exploration targets.
Sean Whiteford, CEO and Director of the Company, commented:
"The Selebi Main deposit
continues to exceed our expectations. Each phase of drilling has expanded our understanding of the
system, while continuing to deliver exceptional grades and thicknesses. Historically, sd119 was viewed
as a standalone thick, high-grade massive sulphide intersection. Today, results from SMD-25-205 and
SMD-26-212-W1 demonstrate that even at a 200-metre drill spacing, we continue to intersect thick,
high-grade massive sulphides. These results are defining an emerging trend extending for more than
one kilometre beyond the 2024 MRE. Importantly, the trend remains open, and we are still refining our
understanding of the geological and structural controls responsible for these thicker, higher-grade zones.
As we continue to define the scale and geometry of the system, understanding the geological and
structural controls on mineralization is becoming increasingly important, not only to enhance drill
targeting, but also to support future resource modelling and potential mine planning. We look forward to
advancing our understanding through the development of an integrated geological and structural model
with TECT Geological Consulting."
Figure 1:
Inclined long section of Selebi Main highlighting drill holes SMD-26-210, 212-W1, 213
and 214 locations relative to the 2024 MRE and the expansion of the Flexure Zone. The Inferred
Resource reference in Figure 1 is presented in accordance with NI 43-101, which may not be
identical to Inferred Resource references under SK-1300.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/306004_bd68f15f44dc8879_002full.jpg
Detailed Drilling and BHEM Information
SMD-26-210 was completed to 1,716.6 metres and intersected 4.10 metres of mineralization from
1,681.50 to 1686.60 metres corresponding to the Main Zone. The zone includes a total of 3.65 metres of
massive sulphides in two intervals including a 2.90 metre interval. This hole is a 225-metre northward
step-out from SMD-25-205 and is located 190 metres down dip of historic drill hole sd123 and 300
metres up dip of SMD-26-213.
SMD-26-212-W1 was completed to 1,636.2 metres and intersected two zones of mineralization starting
at 1,520.10 metres downhole, including a significant 11.15 metre interval of massive sulphides
corresponding to the Main Zone. Separated by 7.3 metres of gneiss, is a second zone comprising a
4.45 metre interval of semi-massive, net-textured and disseminated sulphides, followed by 18.3 metres
of disseminated sulphides, indicating a broad sulphide system. SMD-26-212-W1 is located 160 metres
down-dip of SMD-22-007a, 180 metres up dip of SMD-26-208, 185 metres along strike from SMD-022-
008a and 220 metres from SMD-22-006a-W2.
SMD-26-213 was completed to 1,989.3 metres and intersected several 2 to 2.5 metre intervals of
massive sulphides alternating with thick intervals of disseminated sulphides, including a 1.75 metre
interval of massive sulphides corresponding to the Main Zone and a 20.80 metre zone corresponding to
the Lower Zone. SMD-26-213 is located 155 metres down-dip of SMD-25-201 and 150 metres up-dip
of SMD-25-203.
Details of the most significant mineralized intervals are shown in Table 1 and details of drillholes are
provided in Table 2.
SMD-26-214 was completed to 1,815.3 metres and intersected two sulphide units beginning at
1,703.20 metres. The Main Zone is seen as an 0.80 metre interval of stringer sulphides and the Lower
Zone is comprised of semi-massive and stringer sulphides over 1.55 metres. SMD-26-214 is located 53
metres southwest of SMD-25-205 and 210 metres northeast of SMD-26-209.
To date, a total of 29,734 metres in 12 completed holes, 1 hole extension, 3 pre-collared holes, 4
abandoned holes and 4 in-progress holes have been completed as part of the surface drilling program.
Drill results are reported below in Table 1 and drill hole collar details are provided in Table 2.
Table 1: 2026 Surface Drilling Results
Hole-ID
From
(m)
To
(m)
Length
(m)
Est. True
Thickness
1
Cu
(%)
Ni
(%)
Co
(%)
2
Zone
CuEq
(%)
3
SMD-26-210
1681.50
1685.60
4.10
4.05
1.85
2.13
0.09
Main Zone
6.23
including
1681.50
1684.40
2.90
2.85
2.32
2.35
0.10
Main Zone
7.16
SMD-26-212-W1
1520.10
1531.25
11.15
11.15
3.09
2.21
0.09
Main Zone
7.65
SMD-26-212-W1
1538.55
1552.00
13.45
13.45
0.93
0.59
0.03
Lower Zone
2.14
including
1539.00
1543.00
4.00
4.00
1.31
1.12
0.05
Lower Zone
3.63
SMD-26-213
1887.80
1890.60
2.80
2.65
0.49
1.59
0.07
Main Zone
3.76
including
1888.85
1890.60
1.75
1.65
0.74
2.31
0.10
Main Zone
5.49
SMD-26-213
1917.00
1939.90
22.90
21.90
1.35
0.81
0.04
Lower Zone
3.02
including
1921.55
1929.00
7.45
7.10
2.52
1.54
0.07
Lower Zone
5.69
SMD-26-214
1703.20
1704.00
0.80
0.65
2.11
0.07
0.01
Main Zone
2.26
SMD-26-214
1720.40
1721.95
1.55
1.40
2.03
0.27
0.02
Lower Zone
2.58
1
Length refers to drillhole length and not true width. True widths are estimated where density of drilling is sufficient for an estimation. Some true
widths cannot be estimated due to insufficient drill density.
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.
4
Assays pending.
Table 2: Surface Drilling Collar Information
HOLE ID
UTM East
UTM North
Elevation
Dip
True North
Azimuth
Hole Length
Comment
SMD-26-210
582807.4
7563850.3
901.2
-74.4
115.2
1,717.6
Surveyed collar
SMD-26-212-W1
582754.9
7563356.4
903.5
-72.1
120.9
1,636.2
Surveyed collar
SMD-26-213
582518.1
7563773.3
906.6
-76.4
110.7
1,989.3
Surveyed collar
SMD-26-214
582586.5
7563515.1
906.0
-74.0
101.5
1,815.3
Surveyed collar
HOLE ID
UTM East
UTM North
Elevation
Dip
True North
Azimuth
Hole Length
Comment
Qualified Person
All scientific and technical information in this news release has been reviewed and approved by Sharon
Taylor, V.P. 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
The program is being executed using three company-owned underground Zinex U5 drills which were
converted into surface A5 drills, and two Marcotte HTM2500 drills purchased by the Company capable
of drilling to depths of 2,550 metres (NQ core).
Drill core samples are either NQ (47.75 mm diameter) or BQ (36.40 mm diameter).
All samples are ½
core samples cut by a diamond saw on site and the remaining 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 Geochemistry 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).
Holes are numbered as follows: SMD (Selebi Main Deposit) + year + hole number starting at 201.
BHEM Surveys
The BHEM surveys at Selebi utilize the Crone PEM system operated by local Botswana staff. Survey
data is collected using a 3-component fluxgate probe collecting full waveform data. Surveys have been
collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to
a calculated residual step response to better quantify the conductive sources. This added processing
has proven to be highly valuable because of the size of the highly conductive mineralized system.
Technical Report
The 2024 MRE on the Selebi Mines is supported by the technical report entitled "Technical Report,
Selebi Mines, Central District, Republic of Botswana" dated September 20, 2024 (with an effective date
of June 30, 2024) (the "
Selebi Technical Report
"), and the technical report summary entitled "S-K
1300 Technical Report Summary Selebi Mines, Central District, Republic of Botswana, Premium
Resources Ltd." dated December 17, 2024 (with an effective date of June 30, 2024) (the "
Selebi
Technical Report Summary
"), each 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
) and the Selebi Technical Report Summary,
which was prepared in accordance with Subpart 1300 of Regulation S-K and is available in the
Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the U.S.
Securities and Exchange Commission on 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- and Regulation S-K 1300-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
1-866-794-NEXM (6396)
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.
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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 expansion
potential of the Selebi Main system and the scale and continuity thereof; the expansion potential
within the Flexure Zone; the receipt of pending assay results and the timing and results thereof; the
Company's belief that the combination of massive, semi-massive and disseminated sulphides
indicates a strong sulphide system with potential for scale, particularly when integrated with ongoing
BHEM targeting; the expected timing of completion of the 2026 MRE in Q3 2026; the Company's
belief in the benefits of its data-driven exploration approach; the anticipated benefits of TECT
Geological Consulting's model, including enhancement of the Company's understanding of the
geological controls of mineralization across the mining license, support for future resource growth and
improvement of drill targeting of thicker, higher-grade zones, and the identification of potential
regional exploration targets; and future resource modelling and potential mine planning. 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 SEC 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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