NexMetals Accelerates Drilling at Selkirk Deposit by Adding Another Drill for Resource Expansion
NexMetals Mining (OTC Pink: PRMLF) has added a second drill rig at its Selkirk Mine in Botswana to accelerate its ongoing surface drilling program. The company has completed ~2,050 metres across six holes in its 12-hole program, with holes seven and eight currently in progress.
The drilling program focuses on resource expansion and metallurgical flowsheet development at the past-producing copper-nickel-cobalt-platinum group elements mine. The company has also resampled 29 of 34 identified historical holes, totaling 8,707 metres, to support an updated geological model. Assay results are expected in mid-July.
NexMetals Mining (OTC Pink: PRMLF) ha aggiunto una seconda trivella presso la sua miniera di Selkirk in Botswana per accelerare il programma di perforazione superficiale in corso. La società ha completato circa 2.050 metri distribuiti su sei fori nel suo programma di 12 fori, con i fori sette e otto attualmente in lavorazione.
Il programma di perforazione si concentra sull'espansione delle risorse e sullo sviluppo del flusso metallurgico nella miniera di rame-nichel-cobalto-elementi del gruppo del platino, già in passato produttiva. La società ha inoltre riesaminato 29 dei 34 fori storici identificati, per un totale di 8.707 metri, a supporto di un modello geologico aggiornato. I risultati delle analisi sono attesi a metà luglio.
NexMetals Mining (OTC Pink: PRMLF) ha añadido una segunda plataforma de perforación en su mina Selkirk en Botswana para acelerar su programa de perforación superficial en curso. La compañía ha completado aproximadamente 2,050 metros en seis perforaciones dentro de su programa de 12 perforaciones, con las perforaciones siete y ocho actualmente en progreso.
El programa de perforación se centra en la expansión de recursos y el desarrollo del flujo metalúrgico en la mina de cobre, níquel, cobalto y elementos del grupo del platino que produjo en el pasado. La compañía también ha resampleado 29 de los 34 agujeros históricos identificados, totalizando 8,707 metros, para apoyar un modelo geológico actualizado. Se esperan los resultados de los ensayos a mediados de julio.
NexMetals Mining (OTC Pink: PRMLF)는 보츠와나에 위치한 셀커크 광산에서 진행 중인 지표 시추 프로그램을 가속화하기 위해 두 번째 시추 장비를 추가했습니다. 회사는 12개 시추 구멍 중 6개 구멍에서 약 2,050미터를 완료했으며, 현재 7번과 8번 구멍이 진행 중입니다.
시추 프로그램은 과거 생산된 구리-니켈-코발트-백금족 원소 광산에서 자원 확장과 야금 공정 개발에 중점을 두고 있습니다. 또한 회사는 업데이트된 지질 모델을 지원하기 위해 확인된 34개의 과거 시추 구멍 중 29개를 재시료 채취했으며, 총 8,707미터에 달합니다. 분석 결과는 7월 중순에 발표될 예정입니다.
NexMetals Mining (OTC Pink: PRMLF) a ajouté une deuxième foreuse à sa mine de Selkirk au Botswana afin d'accélérer son programme de forage en surface en cours. La société a complété environ 2 050 mètres répartis sur six trous dans le cadre de son programme de 12 trous, les trous sept et huit étant actuellement en cours.
Le programme de forage se concentre sur l'expansion des ressources et le développement du procédé métallurgique dans cette mine de cuivre-nickel-cobalt-éléments du groupe platine ayant déjà produit auparavant. La société a également rééchantillonné 29 des 34 trous historiques identifiés, totalisant 8 707 mètres, pour soutenir un modèle géologique mis à jour. Les résultats des analyses sont attendus à la mi-juillet.
NexMetals Mining (OTC Pink: PRMLF) hat eine zweite Bohranlage in seiner Selkirk-Mine in Botswana hinzugefügt, um das laufende Oberflächenbohrprogramm zu beschleunigen. Das Unternehmen hat ca. 2.050 Meter über sechs Bohrlöcher seines 12-Loch-Programms abgeschlossen, wobei die Bohrlöcher sieben und acht derzeit in Arbeit sind.
Das Bohrprogramm konzentriert sich auf die Ressourcenerweiterung und die Entwicklung des metallurgischen Fließschemas in der einst produzierenden Kupfer-Nickel-Kobalt-Platingruppenelement-Mine. Das Unternehmen hat außerdem 29 von 34 identifizierten historischen Bohrlöchern mit insgesamt 8.707 Metern nachproben lassen, um ein aktualisiertes geologisches Modell zu unterstützen. Die Analyseergebnisse werden Mitte Juli erwartet.
- Addition of second drill rig to accelerate 12-hole program and increase efficiency
- Significant progress with 2,050 metres drilled across six holes
- Strong resampling progress with 29 of 34 historical holes processed (8,707 metres)
- Historical resource of over 125 million tonnes provides substantial foundation for growth
- Modern technology and metallurgical approach may unlock additional value
- Historical resource estimates are non-compliant with current NI 43-101 standards
- Previous operators did not consistently assay for cobalt, palladium, or platinum
- Pending assay results create uncertainty about current program's success
Toronto, Ontario--(Newsfile Corp. - June 24, 2025) - NexMetals Mining Corp. (TSXV: NEXM) (OTC Pink: PRMLF) (the "Company") announces a drilling progress update and that a second drill has been added to support the surface drilling program currently underway at its past-producing copper-nickel-cobalt-platinum group elements ("Cu-Ni-Co-PGE") Selkirk Mine in Botswana. The addition of the second drill is intended to accelerate ongoing work programs focused on resource expansion and metallurgical flowsheet development.
Highlights
- Second Drill Rig Now Added - With two rigs now active on-site, the 12-hole program will advance more rapidly, allowing for increased efficiency in twinning historical holes, validating legacy data, and generating new intercepts to support an updated resource model.
- Drilling Progress to Date - A total of ~2,050 metres have been drilled across six holes, with the seventh and eight holes currently underway. The drilling targets zones of known mineralization as well as areas prioritized for potential resource expansion (figure 1). Assay results are expected in mid-July.
- Ongoing Resampling of Historical Core - 34 historical holes have been identified for continued resampling to further support the updated geological model. To date, 29 of 34 holes have been processed, relogged and resampled for a total of 8,707 metres.
- Metallurgical Testing Underway - Metallurgical studies are ongoing, focused on supporting the development of a modern metallurgical flowsheet including the potential for XRT pre-concentration. This work will be incorporated into an updated Mineral Resource Estimate ("MRE") and future economic evaluations.
Figure 1: Location of planned drill holes
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Morgan Lekstrom, CEO of the Company, commented: "We are accelerating work at both Selebi and Selkirk to highlight the growth potential of these historic deposits. A second drill has been added at Selkirk to rapidly advance our metallurgical studies and potential resources expansion. Historically, Selkirk had a resource over 125 million tonnes (see historic resource) however, previous operators did not consistently assay for cobalt, palladium or platinum, and this data gap is the main reason for our resampling program. Combined with ongoing drilling, this work will enhance our understanding of the deposit and help unlock value through a modern metallurgical approach. With both Selebi and Selkirk having a history of production, we are building on a solid foundation and we believe that modern technology offers significant upside as we advance toward future resource growth and redevelopment."
The Selkirk Mine remains a core asset for NexMetals with significant potential for redevelopment based on historical production and encouraging legacy results.
Historical Estimates
The historical mineral estimates which have been prepared in accordance with South African Mineral Resource Committee (SAMREC) and Australasian Joint Ore Reserves Committee (JORC) standards are not in compliance with NI 43-101 and NEXM is not treating the historical mineral estimates as current mineral resource estimates. While management believes that these historical mineral estimates could be indicative of the presence of mineralization on the Selkirk Mines property, they have been superseded by the current initial MRE prepared in accordance with CIM (2014) Definitions Standards incorporated in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Historic Estimate at Selkirk has been superseded by the current MRE prepared by SLR Consulting (Canada) Ltd. ("SLR") and described in "NI 43-101 Technical Report Selkirk Nickel Project, North East District, Republic of Botswana", and dated January 10, 2025 (with an effective date of June 30, 2024).
Qualified Person
All scientific and technical information in this news release has been reviewed and approved by Sharon Taylor, VP Exploration of the Company, MSc, P.Geo, and a "qualified person" for the purposes of National Instrument 43-101.
About NexMetals Mining Corp.
NexMetals Mining Corp. is a mineral exploration and development company that is focused on the redevelopment of the previously producing copper, nickel and cobalt resources mines owned by the Company in the Republic of Botswana.
NexMetals is committed to governance through transparent accountability and open communication within our team and our stakeholders. NexMetals' team brings extensive experience across the full spectrum of mine discovery and development. Collectively, the team has contributed to dozens of projects, including work on the Company's Selebi and Selkirk mines. Senior team members each have on average, more than 20 years of experience spanning geology, engineering, operations, and project development.
For further information about NexMetals Mining Corp., please contact:
Morgan Lekstrom
CEO and Director
morganl@nexmetalsmining.com
Jaclyn Ruptash
V.P., Communications and Investor Relations
jaclyn@nexmetalsmining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selkirk Mine as currently contemplated; the acceleration of ongoing work programs and metallurgical flowsheet development; the Company's goal of validating legacy data and generating new intercepts to support an updated resource model; the potential of XRT pre-concentration; the Company's intention of completing an updated MRE and economic evaluation; the release of assay results and the expected timing thereof; anticipated upgrades to existing mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; the anticipated timing of results of the mining program at the Selkirk Mine; management's belief that historical resources could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company's approach to its resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of drilling and metallurgical test results; the ability of exploration results to predict mineralization; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.com) under the Company's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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FAQ
What is the current drilling progress at NexMetals' Selkirk Mine (PRMLF)?
How many historical holes is NexMetals resampling at the Selkirk project?
When will NexMetals (PRMLF) receive assay results from the Selkirk drilling program?
What was the historical resource size of the Selkirk Mine?
What metals is NexMetals exploring for at the Selkirk Mine?
