Project UpdateMay 7, 2026, 07:17 AM
NexMetals Intersects 10.40m of 6.82% CuEq at Selebi Main Project
AI Summary
NexMetals Mining Corp. announced significant assay results from its surface drilling program at the Selebi Mines Project in Botswana, expanding the known mineralization. Hole SMD-26-209 intersected 10.40 meters of 6.82% CuEq, extending the Selebi Main deposit 320 meters down-dip beyond the 2024 Mineral Resource Estimate (MRE). These results, along with other successful drill holes, confirm strong continuity and highlight the potential for a significantly larger updated MRE in the second half of 2026. The company also included cautionary statements regarding the nature of mineral resource estimates under different regulatory standards.
Key Highlights
- SMD-26-209 intersected 10.40 meters of 6.82% CuEq (3.09% Cu, 1.83% Ni), 320 meters down-dip of the 2024 MRE.
- SMD-25-203 intersected 16.10 meters of sulphide mineralization, 620 meters beyond the 2024 MRE.
- Drilling confirms strong down-plunge continuity and potential for additional mineralized horizons at Selebi Main.
- A third mineralized zone is emerging beneath the two known zones at Selebi Main.
- An updated MRE is expected in H2 2026, projected to have significantly larger tonnage.
- Five drill rigs are currently active, with drilling tightened to a 200-meter spacing.
- Current Mineral Resource: 3.0 Mt at 2.92% CuEq Indicated and 24.7 Mt at 3.40% CuEq Inferred.