NexMetals Nearly Triples Selebi North Indicated Mineral Resources to 8.95 Million Tonnes and Increases Inferred Mineral Resources to 9.48 Million Tonnes
Original announcement by newsfile on
- Company
- NexMetals Mining Corp.
- Ticker
- NEXM
- Exchange
- Unavailable
- Region
- Botswana
- Primary commodity
- Copper
- Secondary commodities
- Nickel, Cobalt
- Document categories
- Resource update
- Extracted
- 2026-10-20 11:20:45 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
NexMetals has released an updated Mineral Resource Estimate for the Selebi mines in Botswana, nearly tripling the Selebi North Indicated resource to 8.95 Mt at 1.03% Cu and 1.08% Ni. The total 2026 MRE now comprises 8.95 Mt Indicated and 41.95 Mt Inferred, supported by recent drilling that converted approximately 20% of Inferred resources to Indicated.
Reasoning: The update shows substantial growth in Indicated tonnage (nearly tripling) and grade improvements, alongside significant Inferred expansion and new cobalt inclusion, de-risking the project through resource conversion.
Positive factors
- Significant tonnage growth in Indicated category
- Grade improvement in copper and nickel
- Inferred resource expansion
- Conversion of Inferred to Indicated resources
- New cobalt resource inclusion
- Geological evidence of deposit connection
Negative factors
- High proportion of Inferred resources
Facts used in scoring: 15
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Approximately 20% of previously Inferred Mineral Resources were converted to Indicated Mineral Resources.
Evidence · text
“conversion of approximately 20% of previously Inferred Mineral Resources to Indicated Mineral Resources”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Selebi North Indicated tonnage increased from 3.00 Mt to 8.95 Mt (+198%).
Evidence · table
“+198%”
Context: 3.00
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: Copper and nickel grades in the Selebi North Indicated resource improved.
Evidence · table
“+14%”
Context: 0.90
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource estimate was prepared in accordance with NI 43-101 standards.
Evidence · text
“prepared in accordance with the CIM Definition Standards (2014) and CIM Best Practice Guidelines (2019), which have been incorporated by reference to National Instrument 43-101”
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, reviewed and approved the technical information.
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: 15. Some facts used in scoring do not have a stored record.
Resource Estimates (15)
indicatedcopperTonnes: 8950000Grade: 204Grade Unit: mlbsContained Metal: 204Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:e89189ccd7c514565f69
- Deposit or zone
- Selebi North
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 8950000
- Grade
- 204
- Grade Unit
- mlbs
- Contained Metal
- 204
- Contained 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 growth in Indicated tonnage and grade.
Positive factors
- Significant tonnage growth
- Grade improvement
Evidence · table
“204”
Context: 8.95
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatednickelTonnes: 8950000Grade: 214Grade Unit: mlbsContained Metal: 214Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:e89189ccd7c514565f69
- Deposit or zone
- Selebi North
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 8950000
- Grade
- 214
- Grade Unit
- mlbs
- Contained Metal
- 214
- Contained 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 nickel.
Positive factors
- Grade improvement
Evidence · table
“214”
Context: 8.95
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedcobaltTonnes: 8950000Grade: 11Grade Unit: mlbsContained Metal: 11Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:e89189ccd7c514565f69
- Deposit or zone
- Selebi North
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 8950000
- Grade
- 11
- Grade Unit
- mlbs
- Contained Metal
- 11
- Contained 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 cobalt resource reported.
Positive factors
- New resource inclusion
Evidence · table
“11”
Context: 8.95
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcopperTonnes: 23520000Grade: 834Grade Unit: mlbsContained Metal: 834Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:595e267d5c191a21cf0b
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 834
- Grade Unit
- mlbs
- Contained Metal
- 834
- Contained 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: High grade in inferred zone.
Negative factors
- Inferred category
Evidence · table
“834”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferrednickelTonnes: 23520000Grade: 546Grade Unit: mlbsContained Metal: 546Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:595e267d5c191a21cf0b
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 546
- Grade Unit
- mlbs
- Contained Metal
- 546
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“546”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcobaltTonnes: 23520000Grade: 28Grade Unit: mlbsContained Metal: 28Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:595e267d5c191a21cf0b
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 28
- Grade Unit
- mlbs
- Contained Metal
- 28
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“28”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcopperTonnes: 8950000Grade: 259Grade Unit: mlbsContained Metal: 259Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:1fc796076a5e2c804697
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 259
- Grade Unit
- mlbs
- Contained Metal
- 259
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“259”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferrednickelTonnes: 8950000Grade: 153Grade Unit: mlbsContained Metal: 153Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:1fc796076a5e2c804697
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 153
- Grade Unit
- mlbs
- Contained Metal
- 153
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“153”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcobaltTonnes: 8950000Grade: 8Grade Unit: mlbsContained Metal: 8Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:1fc796076a5e2c804697
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 8
- Grade Unit
- mlbs
- Contained Metal
- 8
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“8”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcopperTonnes: 9480000Grade: 253Grade Unit: mlbsContained Metal: 253Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:6b8043b31b71b64e289c
- Deposit or zone
- Selebi North
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 9480000
- Grade
- 253
- Grade Unit
- mlbs
- Contained Metal
- 253
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“253”
Context: 9.48
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferrednickelTonnes: 9480000Grade: 236Grade Unit: mlbsContained Metal: 236Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:6b8043b31b71b64e289c
- Deposit or zone
- Selebi North
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 9480000
- Grade
- 236
- Grade Unit
- mlbs
- Contained Metal
- 236
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“236”
Context: 9.48
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcobaltTonnes: 9480000Grade: 12Grade Unit: mlbsContained Metal: 12Contained Unit: mlbsView all detailsHide details
Identity
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:6b8043b31b71b64e289c
- Deposit or zone
- Selebi North
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 9480000
- Grade
- 12
- Grade Unit
- mlbs
- Contained Metal
- 12
- Contained 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: Inferred resource component.
Negative factors
- Inferred category
Evidence · table
“12”
Context: 9.48
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcopperTonnes: 41950000Grade: 1345Grade Unit: mlbsView all detailsHide details
Identity
- Commodity
- copper
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:5bb6b1bf1deb18d1df68
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 41950000
- Grade
- 1345
- 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: High grade in inferred zone. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred category
Evidence · table
“1,345”
Context: 41.95
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
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferrednickelTonnes: 41950000Grade: 935Grade Unit: mlbsView all detailsHide details
Identity
- Commodity
- nickel
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:5bb6b1bf1deb18d1df68
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 41950000
- Grade
- 935
- 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: High grade in inferred zone. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred category
Evidence · table
“935”
Context: 41.95
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
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredcobaltTonnes: 41950000Grade: 48Grade Unit: mlbsView all detailsHide details
Identity
- Commodity
- cobalt
- Region
- botswana
- Reported Region
- Botswana
- Ticker
- NEXM
Resource scope
- Estimate type
- resource
- Effective date
- 2026-10-16T00:00:00.000Z
- Reporting standards
- ni_43_101, sec_sk1300
- QP Signed
- Yes
- Qualified person names
- J.C. Witley
- Resource group id
- resource:5bb6b1bf1deb18d1df68
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 41950000
- Grade
- 48
- 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: High grade in inferred zone. (Expanded from multi-commodity resource table for completeness.)
Negative factors
- Inferred category
Evidence · table
“48”
Context: 41.95
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
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
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.