# NexMetals Increases Selkirk Mineral Resource by 70%, Establishing 1.1 Billion Pounds of Copper Equivalent in the Indicated Category and 200 Million Pounds in Inferred Category

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b

Original source: https://money.tmx.com/en/quote/NEXM/news/4578552634858416/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun

Publisher: tmx

Original announcement: 2026-06-24T11:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: NexMetals Mining Corp.

- Ticker: NEXM

- Exchange: TSX

- Region: Botswana

- Primary commodity: Copper

- Secondary commodities: Nickel, Cobalt, Platinum, Palladium, Gold, Silver

- Document categories: Resource update

- Extracted: 2026-08-20 21:36:24 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

NexMetals has updated the Selkirk Mineral Resource, increasing total tonnage by 70% to 93.3 Mt. The update establishes 1.1 billion pounds of copper equivalent in the Indicated category, driven by successful twin drilling, re-assaying, and the inclusion of new payable metals.

Reasoning: The update represents a major scale increase \(70% tonnage growth\) and a significant de-risking event through category conversion and improved metallurgical/economic parameters.

- Positive factor: Significant tonnage and metal growth

- Positive factor: Substantial conversion from Inferred to Indicated category

- Positive factor: Improved strip ratio and open-pit potential

- Positive factor: Inclusion of new payable metals \(Co, Ag, Au\)

- Negative factor: Historical data verification required for some components

Facts used in scoring: 28

## Classification and evidence

**Category Upgrade**

Polarity: positive

Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.

Why it applies: Significant conversion of Mineral Resources from the Inferred to Indicated category.

Evidence · text

> reflects a significant conversion of Mineral Resources from the Inferred to Indicated category

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: Total resource tonnage increased by 70% compared to the 2024 MRE.

Evidence · text

> Increases Selkirk Mineral Resource by 70%

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Mr. J.C. Witley is named as the Qualified Person who reviewed and approved the release.

Evidence · text

> The Qualified Person, Mr. J.C. Witley \(BSc Hons, MSc \(Eng.\)\), is satisfied that the assay results are of sufficient accuracy

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The resource is reported at a cut-off value of US$25/t NSR.

Evidence · text

> Mineral Resources are reported at a cut-off value of US$25/t NSR

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The estimate is prepared in accordance with NI 43-101 standards.

Evidence · text

> prepared in accordance with National Instrument 43-101 \("NI 43-101"\)

## Extracted facts

Stored fact records: 28. Some facts used in scoring do not have a stored record.

## Resource Estimates (28)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-0)

copper

#### Identity

- Commodity: copper
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.23
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource.

Evidence · table

> 0.23

Context: 78.2

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-1)

nickel

#### Identity

- Commodity: nickel
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.21
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Secondary metal in Indicated resource.

Evidence · table

> 0.21

Context: 78.2

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-2)

cobalt

#### Identity

- Commodity: cobalt
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.012
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Trace cobalt in Indicated resource.

Evidence · table

> 0.012

Context: 78.2

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-3)

platinum

#### Identity

- Commodity: platinum
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.1
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: PGE component in Indicated resource.

Evidence · table

> 0.10

Context: 78.2

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-4)

palladium

#### Identity

- Commodity: palladium
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.42
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: PGE component in Indicated resource.

Evidence · table

> 0.42

Context: 78.2

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-5)

gold

#### Identity

- Commodity: gold
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.05
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Precious metal component in Indicated resource.

Evidence · table

> 0.05

Context: 78.2

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-6)

silver

#### Identity

- Commodity: silver
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 78200000
- Grade: 0.72
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Precious metal component in Indicated resource.

Evidence · table

> 0.72

Context: 78.2

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-7)

copper

#### Identity

- Commodity: copper
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.21
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource.

Evidence · table

> 0.21

Context: 15.1

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-8)

nickel

#### Identity

- Commodity: nickel
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.18
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Nickel component in Inferred resource.

Evidence · table

> 0.18

Context: 15.1

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-9)

cobalt

#### Identity

- Commodity: cobalt
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.01
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Trace cobalt in Inferred resource.

Evidence · table

> 0.010

Context: 15.1

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-10)

platinum

#### Identity

- Commodity: platinum
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.09
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: PGE component in Inferred resource.

Evidence · table

> 0.09

Context: 15.1

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-11)

palladium

#### Identity

- Commodity: palladium
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.4
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: PGE component in Inferred resource.

Evidence · table

> 0.40

Context: 15.1

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-12)

gold

#### Identity

- Commodity: gold
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.05
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Precious metal component in Inferred resource.

Evidence · table

> 0.05

Context: 15.1

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-13)

silver

#### Identity

- Commodity: silver
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 15100000
- Grade: 0.77
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Precious metal component in Inferred resource.

Evidence · table

> 0.77

Context: 15.1

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-14)

nickel

#### Identity

- Commodity: nickel
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 163
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 163

Context: 1,138

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-15)

copper

#### Identity

- Commodity: copper
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 181
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 181

Context: 1,138

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-16)

cobalt

#### Identity

- Commodity: cobalt
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 9.2
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 9.2

Context: 1,138

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-17)

platinum

#### Identity

- Commodity: platinum
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 245
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 245

Context: 1,138

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-18)

palladium

#### Identity

- Commodity: palladium
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 1066
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 1,066

Context: 1,138

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-19)

gold

#### Identity

- Commodity: gold
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 120
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 120

Context: 1,138

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-20)

silver

#### Identity

- Commodity: silver
- Ticker: NEXM

#### Resource Data

- Category: indicated
- Tonnes: 1138000000
- Grade: 1818
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Core component of the Indicated resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 1,818

Context: 1,138

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-21)

nickel

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: nickel
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 27
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 27

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-22)

copper

#### Identity

- Commodity: copper
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 32
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 32

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-23)

cobalt

#### Identity

- Commodity: cobalt
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 1.6
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 1.6

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-24)

platinum

#### Identity

- Commodity: platinum
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 45
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 45

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-25)

palladium

#### Identity

- Commodity: palladium
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 193
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 193

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-26)

gold

#### Identity

- Commodity: gold
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 25
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 25

Context: 200

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-increases-selkirk-mineral-resource-by-70-establishing-1-1-billion-poun--4f88e2c9-1895-434c-8eea-c2f712611f2b#fact-resource-facts-27)

silver

#### Identity

- Commodity: silver
- Ticker: NEXM

#### Resource Data

- Category: inferred
- Tonnes: 200000000
- Grade: 372
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-06-24T00:00:00.000Z

Reasoning: Copper component in Inferred resource. \(Expanded from multi-commodity resource table for completeness.\)

Evidence · table

> 372

Context: 200

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.