NexMetals Files NI 43-101 Technical Report for 2026 Selkirk Mineral Resource Estimate
NexMetals’ Selkirk MRE confirms 70% copper equivalent growth, though a capital raise remains a key overhang for the project.
NexMetals Mining Corp. has filed an independent NI 43-101 technical report supporting its 2026 Mineral Resource Estimate for the Selkirk Project in Botswana. The filing confirms a 70% increase in copper equivalent inventory compared to prior estimates, a result driven by a successful re-assaying and twin drilling campaign.
The updated Indicated Mineral Resource totals 78.2 million tonnes at 0.66% CuEq, containing approximately 1.1 billion pounds of CuEq. The Inferred Mineral Resource totals 15.1 million tonnes at 0.60% CuEq, containing approximately 200 million pounds of CuEq.
The technical report was prepared by The MSA Group (Pty) Ltd., effective June 22, 2026, with Qualified Person Mr. J.C. Witley. Key economic assumptions include a US$25/t NSR cut-off, long-term metal prices of Ni $9.10/lb, Cu $5.10/lb, Co $20.00/lb, Pt $1,800/oz, Pd $1,550/oz, Au $3,600/oz, and Ag $52.00/oz, along with recoveries ranging from 53% to 88%.
Data verification utilized 216 diamond drillholes, including historical data from Tati Nickel Mining Company verified via 11 twin holes and approximately 6,000 resampled core intervals, showing no material bias.
NexMetals Mining Corp. (NEXM) filed its NI 43-101 Technical Report on August 7, serving as the expected regulatory follow-up to the June 24, 2026 announcement. Management had stated in June that the report would be filed within 45 days, a timeline that aligns perfectly with the August 7 date. The filing validates the data previously highlighted, which included a 70% increase in CuEq and 1.1 billion pounds of contained CuEq in the Indicated category.
The document introduces no new geological, metallurgical, or economic surprises, functioning as a compliance milestone rather than a value-creating catalyst. Since late June, the stock has traded in a tight range between $3.10 and $3.30, indicating the market had already priced in the resource expansion. Consequently, the filing is considered incremental and expected.
NexMetals Mining Corp. is a pre-revenue mineral exploration and development company advancing two major Cu-Ni-Co-PGE assets in Botswana: Selebi and Selkirk.
The Selebi Mines consist of past-producing brownfield assets, including Selebi Main and Selebi North, which feature existing infrastructure, grid power, and rail access. The company is targeting resource expansion, particularly the newly identified "Flexure Zone" at Selebi Main, which shows thick, high-grade massive sulphides.
The Selkirk Project is a large, low-grade deposit with a 2026 MRE of 93.3 million tonnes of CuEq. Metallurgical testwork has successfully demonstrated the ability to produce separate, high-grade copper and nickel concentrates that meet smelter specifications, potentially eliminating the need for an on-site smelter.
Botswana ranks #1 in Africa and #7 globally for mining investment attractiveness, offering political stability, clear regulatory frameworks, and no foreign exchange restrictions.