NexMetals 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 newsfile on
- Company
- NexMetals Mining Corp.
- Ticker
- NEXM
- Exchange
- Unavailable
- Region
- Botswana
- Primary commodity
- Copper
- Secondary commodities
- Nickel, Cobalt
- Document categories
- Resource update
- Extracted
- 2026-10-01 11:04:36 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
NexMetals has announced an updated Mineral Resource Estimate for the Selebi Main deposit, reporting a 72% increase in tonnage to 32.47 Mt at 1.53% Cu and 0.98% Ni. The update, which now includes cobalt, was driven primarily by new drilling in the Flexure Zone and represents an Inferred resource.
Reasoning: Significant tonnage and contained metal growth driven by new drilling, though geological confidence remains low as the entire resource is Inferred.
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
- step-out drilling indicates further growth potential
Negative factors
- 100% of resource is Inferred category
- historical data verification required
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 6
Classification and evidence
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 · text
“establishing 1.77 billion pounds of copper equivalent in the Inferred category”
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 nickel by 91% compared to the 2024 MRE.
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 resource estimate was prepared in accordance with NI 43-101 standards.
Evidence · text
“prepared in accordance with the CIM Definition Standards (2014) ... 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 is named as the Qualified Person who 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”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Resource Estimates (6)
inferredSelebi Main · copperTonnes: 23520000Grade: 1.61Grade Unit: %Contained Metal: 377.9Contained Unit: ktView 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:9d6ffc18378bb0ef10f8
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 1.61
- Grade Unit
- %
- Contained Metal
- 377.9
- Contained Unit
- kt
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Strong copper grade in the Upper Zone.
Positive factors
- High grade for an inferred resource
Negative factors
- Inferred category only
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
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: %Contained Metal: 247.5Contained Unit: ktView 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:9d6ffc18378bb0ef10f8
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 1.05
- Grade Unit
- %
- Contained Metal
- 247.5
- Contained Unit
- kt
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: High nickel grade in the Upper Zone.
Positive factors
- Strong nickel grade
Negative factors
- Inferred category only
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
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: %Contained Metal: 12.8Contained Unit: ktView 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:9d6ffc18378bb0ef10f8
- Deposit or zone
- Selebi Main Upper Zone
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 23520000
- Grade
- 0.05
- Grade Unit
- %
- Contained Metal
- 12.8
- Contained Unit
- kt
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Cobalt is a newly reported metal in this update.
Positive factors
- New inclusion of cobalt in the MRE
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
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: %Contained Metal: 117.4Contained Unit: ktView 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:39d64eddff202d2d81b2
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 1.31
- Grade Unit
- %
- Contained Metal
- 117.4
- Contained Unit
- kt
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Copper grade in the Lower Zone.
Positive factors
- Solid copper grade
Negative factors
- Inferred category only
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
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: %Contained Metal: 69.4Contained Unit: ktView 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:39d64eddff202d2d81b2
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 0.77
- Grade Unit
- %
- Contained Metal
- 69.4
- Contained Unit
- kt
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Nickel grade in the Lower Zone.
Positive factors
- Reasonable nickel grade
Negative factors
- Inferred category only
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
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: %Contained Metal: 3.4Contained Unit: ktView 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:39d64eddff202d2d81b2
- Deposit or zone
- Selebi Main Lower Zone
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 8950000
- Grade
- 0.04
- Grade Unit
- %
- Contained Metal
- 3.4
- Contained Unit
- kt
- Cutoff Grade
- 75
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-09-28
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-01T00:00:00.000Z
Reasoning: Cobalt is a newly reported metal in this update.
Positive factors
- New inclusion of cobalt in the MRE
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
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.