# NexMetals Mining Nearly Triples Selebi North Indicated Mineral Resources to 8.95 Million Tonnes and Increases Inferred Mineral Resources to 9.48 Million Tonnes Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/886-tsx-venture/nexm/213193-nexmetals-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95-million-tonnes-and-increases-inferred-mineral-resources-to-9-48-million-tonnes.html Publisher: jmn Original announcement: 2026-10-20T22:18:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T12:27:58.487Z Atlas analysis updated: 2026-10-20T12:27:58.487Z - Company: NexMetals Mining Corp. - Ticker: NEXM - Exchange: TSXV - Region: Botswana - Primary commodity: Copper - Secondary commodities: Nickel, Cobalt - Document categories: Resource update - Extracted: 2026-10-20 12:27:59 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary NexMetals Mining has released an updated Mineral Resource Estimate for the Selebi Mines in Botswana, nearly tripling the Selebi North Indicated resource to 8.95 Mt. The update, which includes the Selebi Main deposit, brings the total Indicated resource to 8.95 Mt and the total Inferred resource to 41.95 Mt, supported by 42,633 metres of recent drilling. Reasoning: The update shows massive tonnage growth and successful resource conversion \(Inferred to Indicated\) driven by significant recent drilling, alongside improving grades for the primary metals. - Positive factor: Significant tonnage growth in Indicated category \(+198%\) - Positive factor: Grade improvement in copper \(+14%\) and nickel \(+10%\) - Positive factor: Successful conversion of ~20% of Inferred to Indicated resources - Positive factor: Expansion of Inferred resource tonnage \(+70%\) - Positive factor: New geological interpretation suggesting connectivity between Selebi North and Selebi Main - Negative factor: Slight grade decline in combined Inferred copper \(-3%\) Facts used in scoring: 12 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Selebi North Indicated tonnage increased by 198% from 3.00 Mt to 8.95 Mt. Evidence · table > +198% Context: 3.00 **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: Copper grade in Selebi North Indicated increased by 14% from 0.90% to 1.03%. Evidence · table > +14% Context: 0.90 **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The MRE is reported in accordance with NI 43-101 standards. Evidence · text > reported in accordance with... NI 43-101 **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, a Qualified Person, has reviewed and approved the technical information. Evidence · text > The Qualified Person, Mr. J.C. Witley... has reviewed and approved ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (12) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-0) Selebi North · copper #### Identity - Project: Selebi North - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:5e260ef99e03ccf0a1c5 - Deposit or zone: Selebi North #### Resource Data - Category: indicated - Tonnes: 8950000 - Grade: 204 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Strong tonnage growth and grade improvement in the Indicated category. - Positive factor: Significant tonnage increase vs 2024 Evidence · table > 204 Context: 8.95 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-1) Selebi North · nickel #### Identity - Project: Selebi North - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:5e260ef99e03ccf0a1c5 - Deposit or zone: Selebi North #### Resource Data - Category: indicated - Tonnes: 8950000 - Grade: 214 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Grade improvement in the Indicated category. - Positive factor: Grade improvement vs 2024 Evidence · table > 214 Context: 8.95 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-2) Selebi North · cobalt #### Identity - Project: Selebi North - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:5e260ef99e03ccf0a1c5 - Deposit or zone: Selebi North #### Resource Data - Category: indicated - Tonnes: 8950000 - Grade: 11 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: New commodity inclusion in the Indicated resource. - Positive factor: New cobalt resource reported Evidence · table > 11 Context: 8.95 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-3) Selebi Main Upper Zone · copper #### Identity - Project: Selebi Main Upper Zone - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:da56553a7e9f50a984df - Deposit or zone: Selebi Main Upper Zone #### Resource Data - Category: inferred - Tonnes: 23520000 - Grade: 834 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 834 Context: 23.52 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-4) Selebi Main Upper Zone · nickel #### Identity - Project: Selebi Main Upper Zone - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:da56553a7e9f50a984df - Deposit or zone: Selebi Main Upper Zone #### Resource Data - Category: inferred - Tonnes: 23520000 - Grade: 546 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 546 Context: 23.52 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-5) Selebi Main Upper Zone · cobalt #### Identity - Project: Selebi Main Upper Zone - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:da56553a7e9f50a984df - Deposit or zone: Selebi Main Upper Zone #### Resource Data - Category: inferred - Tonnes: 23520000 - Grade: 28 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 28 Context: 23.52 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-6) Selebi Main Lower Zone · copper #### Identity - Project: Selebi Main Lower Zone - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:b136c62e562aff3675ef - Deposit or zone: Selebi Main Lower Zone #### Resource Data - Category: inferred - Tonnes: 8950000 - Grade: 259 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 259 Context: 8.95 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-7) Selebi Main Lower Zone · nickel #### Identity - Project: Selebi Main Lower Zone - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:b136c62e562aff3675ef - Deposit or zone: Selebi Main Lower Zone #### Resource Data - Category: inferred - Tonnes: 8950000 - Grade: 153 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 153 Context: 8.95 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-8) Selebi Main Lower Zone · cobalt #### Identity - Project: Selebi Main Lower Zone - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:b136c62e562aff3675ef - Deposit or zone: Selebi Main Lower Zone #### Resource Data - Category: inferred - Tonnes: 8950000 - Grade: 8 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 8 Context: 8.95 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-9) Selebi North · copper #### Identity - Project: Selebi North - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:c29ef149496e8f843492 - Deposit or zone: Selebi North #### Resource Data - Category: inferred - Tonnes: 9480000 - Grade: 253 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 253 Context: 9.48 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-10) Selebi North · nickel #### Identity - Project: Selebi North - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:c29ef149496e8f843492 - Deposit or zone: Selebi North #### Resource Data - Category: inferred - Tonnes: 9480000 - Grade: 236 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 236 Context: 9.48 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/nexmetals-mining-nearly-triples-selebi-north-indicated-mineral-resources-to-8-95--e11118d1-4e1d-43b2-978b-b9c138e4c54a#fact-resource-facts-11) Selebi North · cobalt #### Identity - Project: Selebi North - Commodity: cobalt - Region: botswana - Reported Region: Botswana - Ticker: NEXM #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: J.C. Witley - Resource group id: resource:c29ef149496e8f843492 - Deposit or zone: Selebi North #### Resource Data - Category: inferred - Tonnes: 9480000 - Grade: 12 - Grade Unit: mlbs - Cutoff Grade: 75 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Standard inferred resource component. Evidence · table > 12 Context: 9.48 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **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: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## 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.