Business UpdateOct 1, 2026, 05:06 PM
NexMetals Reports 72% Increase in Selebi Main Mineral Resource
AI Summary
NexMetals Mining Corp. announced an updated Mineral Resource Estimate for its Selebi Main deposit in Botswana, reporting a 72% increase in total tonnage to 32.47 million tonnes. The estimate now includes cobalt and shows significant growth in contained copper and nickel. The company also noted that Selebi North's estimate is still in progress. NexMetals highlighted that 91% of the resource growth came from new drilling in the Flexure Zone and that updated technical inputs reflect current metal price assumptions.
Key Highlights
- NexMetals reports 72% increase in Selebi Main Mineral Resource to 32.47 Mt @ 1.53% Cu, 0.98% Ni Inferred.
- Contained copper increased 55% to 495,400 tonnes; contained nickel increased 91% to 316,800 tonnes.
- Cobalt is now included in the 2026 Selebi Main MRE, adding a third reported metal.
- 91% of resource tonnage growth is attributable to new drilling in the Flexure Zone.
- Updated technical inputs reflect metal price assumptions of US$5.10/lb Copper and US$9.10/lb nickel.
- Selebi North Mineral Resource Estimate is pending and not included in current results.
- Company had an approximate cash balance of $10.5 million at September 30th.
Price Impact
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