NexMetals Drills 11.05 Metres of Sulphide Mineralization and Demonstrates Clear Growth Potential Driven by the Hinge Program

The most recent news (January 20, 2026) reports significant sulphide mineralization at the Selebi Main project in Botswana, specifically within the "Hinge" program targeting the gap between the Selebi Main and Selebi North deposits. Key findings include hole SMD-25-201, which intersected multiple zones including 2.7m at 4.24% CuEq and 3.8m at 5.38% CuEq. Crucially, borehole electromagnetic (BHEM) surveys have identified a "Super Conductor"—the highest amplitude anomaly ever seen on the property—indicating potential for thick, high-grade mineralization that remains open. This follows a January 15, 2026, announcement of a 30,000-meter drilling budget for 2026 and the formal completion of a CEO transition to Sean Whiteford.

This news is materially positive as it validates the "Hinge" theory that Selebi Main and Selebi North are part of a continuous, larger mineralized system. - Resource Growth: The mineralization found in SMD-25-201 and SMD-25-205 (11.05m of sulphide, assays pending) sits outside the current Mineral Resource Estimate (MRE), suggesting a significant tonnage increase in the upcoming H2 2026 update. - Geophysical Validation: The "Super Conductor" provides a high-probability target for "thick" mineralization, which is necessary to justify the high costs of deep underground mining. - Deep Target Risks: Investors must note the depth of these intercepts—1,700 to 2,000 meters. These are ultra-deep targets. While high-grade, the capital expenditure required to mine at these depths is massive, and the technical risks increase exponentially with depth. - Assay Backlog: The company is reporting visual sulphides for several holes (SMD-25-204, 205, 207) with assays pending. While visuals are encouraging, the exact economic value remains unconfirmed.

NexMetals is focused on the Selebi and Selkirk copper-nickel-cobalt-PGE mines in Botswana. - Flagship Project: The Selebi Mines (Main and North), which were historically producing. - Strategic Goal: To restart production using modern technology (XRT ore sorting, separate concentrates) and expand the resource by drilling the "Hinge" area between existing deposits. - Jurisdiction: Botswana is considered one of the most stable mining jurisdictions in Africa, currently pushing for economic diversification away from diamonds.