Northwire Canada EditionFriday, July 10, 2026
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S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.04 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.27 +11.9% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.51 +1.2% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0% S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.04 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.27 +11.9% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.51 +1.2% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0%
Drill Results Routine +

NexMetals Expands the Selebi System Intersecting 10.40 Metres of 6.82% CuEq (3.09% Cu, 1.83% Ni) at Selebi Main, 320 Metres Beyond the 2024 MRE

Drilling Confirms Flexure Zone Continuity as NexMetals Eyes H2 Resource Update Amidst Valuation Compression

By The Northwire Desk — AI Analysis May 07, 2026 · 07:05 NEXM · 3.53 NexMetals Mining Corp.
Executive Summary
  • NexMetals Mining Corp. reported significant assay results from surface drilling at the Selebi Mines Project in Botswana on May 7, 2026.
  • Drill hole SMD-26-209 intersected 10.40 metres of 6.82% CuEq (3.09% Cu, 1.83% Ni).
  • Mineralization extends 320 metres beyond the limits of the 2024 Mineral Resource Estimate (MRE), confirming down-plunge continuity in the Flexure Zone.
  • Five drill rigs are currently active at Selebi Main, with drilling spacing tightened to 200 metres to support resource expansion.
  • An updated MRE is expected in H2 2026, anticipating significantly larger tonnage than the 2024 estimate.
  • All reported holes returned grades and widths above the 2024 MRE cut-off grade.
Material Impact
  • The news confirms the viability of the "Flexure Zone" identified in February/March 2026, validating the geological model rather than introducing a new discovery paradigm.
  • While technically positive, the market has already priced in exploration success through previous releases (Feb-Mar 2026) without significant price appreciation, suggesting skepticism regarding resource-to-reserve conversion or dilution concerns.
  • The confirmation of extension beyond the MRE supports the H2 2026 update timeline but does not guarantee immediate economic viability without a Preliminary Economic Assessment (PEA).
  • Given the consistent stream of "Material - Positive" drilling news throughout late 2025 and early 2026 that failed to sustain price momentum, this release is viewed as incremental progress on an established work program rather than a fundamental valuation reset.
NEXM · Price
Company Overview
  • Company: NexMetals Mining Corp., focused on reactivating past-producing Cu-Ni-Co-PGE assets in Botswana.
  • Flagship Projects: Selebi Mines (Underground) and Selkirk Mine (Open-pit potential).
  • Selebi Status: Past-producing, permitted, title secured via $25M milestone payment completed Dec 2025.
  • Selkirk Status: Past-producing, permitted, title secured; metallurgical results confirm separate high-grade copper and nickel concentrates.
  • Jurisdiction: Botswana (Tier-one mining jurisdiction with stable political environment).
  • Infrastructure: Existing underground infrastructure at Selebi North (shafts, power, water) reduces restart CAPEX compared to greenfield projects.
Read the original news release →

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