NexMetals Mining has reported a 72% increase in the Mineral Resource Estimate for the Selebi Main copper-nickel deposit in Botswana, with the updated resource now containing approximately 495,400 mt of copper.
The 2026 Selebi Main Mineral Resource Estimate totals 32.47 million mt in the Inferred category, grading 1.53% copper, 0.98% nickel and 0.05% cobalt. This compares with 18.89 million mt grading 1.69% copper and 0.88% nickel in the company's 2024 estimate.
Contained copper increased by 55% to 495,400 mt from 319,200 mt in the previous estimate, while contained nickel increased by 91% to 316,800 mt from 165,500 mt. Cobalt has also been included in the Selebi Main resource estimate for the first time, with approximately 16,200 mt of contained cobalt reported.
NexMetals said 91% of the increase in resource tonnage was attributable to new drilling in the Flexure Zone. The updated estimate incorporates drilling completed by NexMetals alongside historical drilling from previous operator BCL Limited.
The company said recent step-out drilling completed after the resource cut-off date intersected additional massive sulphide mineralisation, meaning those results are not included in the current estimate.
The updated Mineral Resource Estimate for the separate Selebi North deposit remains in progress and will be reported separately once completed. NexMetals said the two estimates will provide a more comprehensive view of the scale of the broader Selebi Mines once the Selebi North update is finalized.
The 72% increase in Selebi Main resource tonnage materially expands the scale of NexMetals’ copper-nickel resource base in Botswana, while the 55% increase in contained copper strengthens the project's potential relevance to future regional copper supply. However, the entire updated Selebi Main resource remains classified as Inferred, meaning further drilling and technical work will be required before its economic viability can be established. Attention will now turn to the pending Selebi North resource update and subsequent technical studies covering the broader Selebi Mines.
