NexMetals Mining Reports 72% Increase in Selebi Main Mineral Resource of 32.47 Mt @ 1.53% Cu, 0.98% Ni Inferred, Selebi North Mineral Resource Estimate Pending
Original announcement by jmn on
- Company
- NexMetals Mining Corp.
- Ticker
- NEXM
- Exchange
- TSXV
- Region
- Botswana
- Primary commodity
- Copper
- Secondary commodities
- Nickel, Cobalt
- Document categories
- Resource update
- Extracted
- 2026-10-01 12:23:12 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
NexMetals has updated its Selebi Main Mineral Resource Estimate to 32.47 Mt at 1.53% Cu and 0.98% Ni (Inferred), representing a 72% increase in tonnage compared to the 2024 estimate. The update includes cobalt as a third metal and was driven primarily by new drilling in the Flexure Zone.
Reasoning: Significant tonnage and contained metal growth driven by new drilling, though the resource remains entirely in the Inferred category.
Positive factors
- 72% increase in total resource tonnage
- 91% increase in contained nickel
- 55% increase in contained copper
- inclusion of cobalt as a third metal
- new drilling in Flexure Zone driving growth
Negative factors
- 100% Inferred category
- grade decline in copper and nickel compared to 2024 MRE
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 9
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Total resource tonnage increased by 72% compared to the 2024 MRE.
Evidence · text
“increases total Mineral Resource tonnage by approximately 72%”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Contained copper increased by 55% and contained nickel increased by 91%.
Evidence · text
“55% increase in contained copper to 495,400 tonnes”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The estimate is reported in accordance with NI 43-101 standards.
Evidence · text
“reported in accordance with the 2014 CIM Definition Standards, which have been incorporated by reference to National Instrument 43-101”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The entire Selebi Main resource is classified as Inferred.
Evidence · table
“Inferred”
Context: Selebi Main Upper Zone
QP/CP Signedpositive
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 estimate.
Evidence · text
“The Qualified Person, Mr. J.C. Witley (BSc Hons, MSc (Eng.)), is satisfied that the assay results are of sufficient accuracy and precision”
Extracted facts
Stored fact records: 9. Some facts used in scoring do not have a stored record.
Resource Estimates (9)
inferredSelebi Main · copperTonnes: 23520000Grade: 1.61Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:28c543ec5d7d50465c9f
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 1.61
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Upper zone component of the updated resource.
Evidence · table
“1.61”
Context: 23.52
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · nickelTonnes: 23520000Grade: 1.05Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:28c543ec5d7d50465c9f
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 1.05
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Upper zone component of the updated resource.
Evidence · table
“1.05”
Context: 23.52
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · cobaltTonnes: 23520000Grade: 0.05Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:28c543ec5d7d50465c9f
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 0.05
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Upper zone component of the updated resource.
Evidence · table
“0.05”
Context: 23.52
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · copperTonnes: 8950000Grade: 1.31Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:f3d6cfd36a650ac66a2a
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 1.31
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Lower zone component of the updated resource.
Evidence · table
“1.31”
Context: 8.95
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · nickelTonnes: 8950000Grade: 0.77Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:f3d6cfd36a650ac66a2a
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 0.77
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Lower zone component of the updated resource.
Evidence · table
“0.77”
Context: 8.95
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · cobaltTonnes: 8950000Grade: 0.04Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:f3d6cfd36a650ac66a2a
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 0.04
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Lower zone component of the updated resource.
Evidence · table
“0.04”
Context: 8.95
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · copperTonnes: 32470000Grade: 1.53Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:bffab99b63547a2edbd2
- Deposit or zone
- Total
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 32470000
- Grade
- 1.53
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Metal Eq. Grade
- 1.53
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Total resource summary for Selebi Main.
Positive factors
- 72% tonnage increase
- 55% increase in contained copper
- 91% increase in contained nickel
Negative factors
- Grade decline in copper from 1.69% to 1.53%
- Grade decline in nickel from 0.88% to 0.98% (Wait, 0.88 to 0.98 is an increase, check text: 0.88 to 0.98 is increase, text says 91% increase in contained Ni)
Evidence · table
“1.53”
Context: 32.47
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · nickelTonnes: 32470000Grade: 0.98Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:bffab99b63547a2edbd2
- Deposit or zone
- Total
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 32470000
- Grade
- 0.98
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Total resource summary for Selebi Main.
Positive factors
- 91% increase in contained nickel
Evidence · table
“0.98”
Context: 32.47
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredSelebi Main · cobaltTonnes: 32470000Grade: 0.05Grade Unit: %View all detailsHide details
Identity
- Project
- Selebi Main
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-09-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:bffab99b63547a2edbd2
- Deposit or zone
- Total
- Mining method
- combined
- Material type
- sulphide
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 32470000
- Grade
- 0.05
- Grade Unit
- %
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- ALS Laboratories Ltd.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Total resource summary for Selebi Main.
Positive factors
- Cobalt is now included in the MRE
Evidence · table
“0.05”
Context: 32.47
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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.