[Video Enhanced] NexMetals Mining Raises $80 Million Securing Title on Two Botswana Critical Metal Projects
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On December 3, 2025, NexMetals Mining Corp. announced the final assay results from its 2025 metallurgical drill program at the Selkirk Mine in Botswana. The results from the final three holes continue to demonstrate wide, continuous mineralization.
Key intercepts include: - SMET-25-009: 231 metres of 1.09% Copper Equivalent (CuEq), including a higher-grade section of 97 metres of 1.28% CuEq. - SMET-25-010: 171 metres of 0.85% CuEq. - SMET-25-011: 152.9 metres of 0.79% CuEq.
CEO Morgan Lekstrom stated the results reinforce the "sizable, mineralized continuity" of the deposit, providing confidence to advance technical work. With all assays from this program now received, the company is focused on the ongoing metallurgical work and assessment of processing options, which will inform a future Mineral Resource Estimate (MRE) update.
This news is materially positive as it successfully concludes the 2025 metallurgical drill program at Selkirk with consistently strong results. The progression of drilling news from this program has systematically demonstrated the project's scale and grade: - September 18: Announced 201.30 metres of 0.91% CuEq. - September 23: Announced 210 metres of 1.06% CuEq. - October 7: Announced 219 metres of 1.03% CuEq. - December 3 (current): Announced 231 metres of 1.09% CuEq.
The consistency of these wide, high-grade intercepts validates the geological model and strengthens the case for a large, open-pittable resource. This news provides the final data points needed for an updated MRE, which is a key upcoming catalyst.
This announcement comes directly after the December 2 news confirming the company made its US$25 million milestone payment to secure unencumbered title to both the Selkirk and Selebi assets. That payment was funded by the C$80 million financing that closed on November 17.
While the market may have anticipated strong results given the prior releases, this news confirms the thesis, adds significant data, and allows the company to move to the next stage of technical de-risking for one of its two core assets. The stock has been trading below the C$5.70 financing price, and this steady stream of positive operational news is necessary to rebuild momentum.
NexMetals Mining Corp. is a Canadian exploration and development company focused on restarting two past-producing mines in Botswana. - Selebi Project: This project includes the Selebi and Selebi North mines, which are high-grade, underground nickel-copper-cobalt deposits. Recent metallurgical work (Sept 3, 2025) demonstrated the potential to produce separate, saleable copper and nickel-cobalt concentrates, which could significantly reduce restart capital costs by eliminating the need for an on-site smelter. Exploration is focused on expanding the resource at depth. - Selkirk Project: This is a large, near-surface nickel-copper-PGE deposit with open-pit potential. The 2025 drill program, which just concluded, was designed to confirm historical data, provide material for metallurgical testing, and expand the resource for a future MRE update. Results have consistently shown wide intercepts of over 1% CuEq mineralization.