Successful Intersection Of High-Grade Mineralization At Selebi North Underground Deposit

Successful Intersection Of High-Grade Mineralization At Selebi North Underground Deposit

VANCOUVER – NexMetals Mining Corp. reported on the additional drill hole successfully intersecting high-grade mineralization at the Selebi North Underground (SNUG) deposit, in Botswana. Drill hole SNUG-25-186 was designed as a follow-up to borehole electromagnetic (BHEM) anomalies detected in SNUG-25-184 and confirms a significant down-plunge extension of the South Limb mineralization beyond the 2024 Mineral Resource Estimate (MRE).
Drill Hole SNUG-25-186: 315 metres down-plunge of South Limb, 16.25 metres of 3.06% CuEq (1.13% Cu, 0.94% Ni), including 10.45 metres of 4.16% CuEq (1.62% Cu, 1.24% Ni), and 6.45 metres of 5.28% CuEq (2.30% Cu, 1.44% Ni).
Previously announced South Limb drill hole SNUG-25-184 intercepted 13.50 metres of 3.68% CuEq (1.13% Cu, 1.24% Ni) 183 metres down plunge of 2024 MRE. Down-plunge extent of South Limb expanded by 35%, with SNUG-25-184 and 186 extending mineralization 315 metres down-plunge beyond the current MRE, which has a 990 metre down-plunge extent. Additional drilling is in progress to continue the strike extent of the new mineralization.
The drilling confirms high-grade continuity – demonstrates the presence of significant high-grade mineralization as drilling moves deeper. It also supports resource expansion potential – increases the likelihood of adding tonnage and enhancing the project’s economic profile in a future updated MRE. Plus it strengthens project economics – higher grades and resource expansion could translate into improved mine life and profitability.
Morgan Lekstrom, CEO, said, “The continued extension of high-grade copper and nickel mineralization at Selebi North is a significant step in the right direction, highlighting how much potential was previously undefined. We continue to show high-grade intercepts that speak to the strength and scale of this system. The results today reinforce our growing confidence and support our strategy of driving additional value through targeted drilling, unlocking the full potential of this asset. Selebi North is only one of three large deposits we are actively drilling, each demonstrating exceptional copper, nickel, cobalt +/- PGE mineralization. We believe all of our assets have strong resource expansion potential and could be well-positioned to become a big part of the global critical metals supply chain.”