Northwire Canada EditionTuesday, September 15, 2026
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GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8% GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8%
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 →

More from NexMetals Mining Corp.

Aug 17, 2026 · 07:01

NexMetals expands the trend with a 450 m step-out, though assays are pending to confirm the evidence.

Drill Results Aug 07, 2026 · 17:16

NexMetals’ Selkirk MRE confirms 70% copper equivalent growth, though a capital raise remains a key overhang for the project.

Resource Estimate Jul 22, 2026 · 07:01

NexMetals reports high-grade massive sulphide intercepts at Selebi Main, extending a kilometre-scale trend and validating resource expansion potential.

Drill Results Jun 24, 2026 · 07:01

NexMetals’ indicated resource reaches 1.1 billion pounds of copper equivalent despite a going-concern warning and collapsing share price.

Resource Estimate Jun 04, 2026 · 07:01

NexMetals confirms smelter-ready concentrates at its Selkirk project, though dilution and going concern risks continue to weigh on the stock.

Technical Study Jun 01, 2026 · 07:01

NexMetals Drills Into Flexure Zone Continuity as Botswana Copper-Nickel Play Tests Cash Runway Ahead of H2 Resource Update

Drill Results