Salebi Mining
Resource
Initial NI 43-101 Mineral Resource Estimate - June 30, 2024
Area
The project consists of a single mining license covering an area of 115 km²
Deposit Type
~2.65-2.7Ga Ortho-Magmatic Intrusive Sill within Central Zone of the Limpopo Mobile Belt (Amphibolite-Granulite Facies)
Accessibility
Rail and power, airport, serviced by Selebi Phikwe (Pop. 52,000)
Botswana:
A Tier-One Mining Jurisdiction
Recognized globally for its political stability and mining-friendly policies, Botswana offers a supportive environment for resource development. Government initiatives are actively encouraging mining investment as a means of generating long-term employment and economic growth.
Resource Growth Underway
NexMetals Mining Corp. completed an NI 43-101 Mineral Resource Estimate (MRE), effective June 30, 2024, for the Selebi Main and Selebi North deposits, confirming that these deposits are significantly larger than previously understood.
A targeted 2025 drill campaign is now underway to fast-track the delineation of scale.
Know Advantages
Operational Advantages
Permitted & Proven
Mining leases are already in place, clearing the way for rapid re-start and expansion.
Built-in Advantage
Two shafts, grid power, water, rail & road infrastructure in place.
Exploration Upside
Untested EM plates along 2 km corridor between and below Selebi North & Main - major discovery potential.
Capital Efficiency
A relatively low capital requirement makes redevelopment more cost-effective.
Technology Under Evaluation
XRT sorting is being assessed to enhance processing performance and reduce waste.
Local Team in Place
A skilled and growing local workforce is already supporting development activities.
Selebi North & Selebi Main
Resource Growth Underway
Advancing Selebi North through underground drilling and testing the 2 km gap between Selebi North and Selebi Main through surface drilling.
- Surface drilling program targeting BHEM plates in the untested 2 km long area between the Selebi North and Selebi Main deposits referred to as the hinge.
BHEM Targeting
The BHEM targets are situated down-plunge and down-dip of the Selebi Main resource and potentially indicate additional mineralization between the two deposits.
Selebi Shaft Quick Facts
Opened in 1980, operational for 36 years
In total, 26.6 million tonnes (Mt) grading 0.58% Ni and 1.03% Cu was mined from Selebi (1980 to 2016)
Development Depth 1140m
Currently on care and maintenance
Selebi North Shaft Quick Facts
Mine production began in 1990. Shaft commissioned in 1998. Operational for 26 years
In total, 13.9 Mt grading 0.74% Ni and 0.66% Cu was mined from Selebi North (1990 to 2016)
Development Depth 970m
Currently on care and maintenance
Technical Reports
- Selebi Mines NI 43-101 Mineral Resource Estimate Technical Report – effective date: June 30, 2024
- Selebi Mine NI 43-101 Report
- SGS Report March 26, 2024: An Investigation into PLATSOL Processing of the Selkirk and Selebi Deposits
- SGS Report January 3, 2024: An Investigation into The Metallurgical Testwork on Samples from the Selebi and Selkirk Deposits
- SGS Report December 13, 2021: The Recovery of Copper and Nickel from Composite Samples from the Phikwe-Selebi Deposit
NI 43-101 Summary
Selebi Main Deposit
Inferred MRE: 18.89 Mt at 3.51% CuEq or 1.70% NiEq.
Selebi North Deposit
Inferred MRE: 18.89 Mt at 3.51% CuEq or 1.70% NiEq.
Inferred MRE: 5.83 Mt at 3.11% CuEq or 1.51% NiEq.
This initial estimate reaffirms our confidence in the potential for continued resource growth at Selebi.
| Classification | Deposit | Tonnage Mt | Cu % | Ni % | Cu kt | Ni kt |
|---|---|---|---|---|---|---|
| Indicated | Selebi North | 3.0 | 0.90 | 0.98 | 27 | 29 |
| Inferred | Selebi Main | 18.9 | 1.69 | 0.88 | 319 | 165 |
| Selebi North | 5.8 | 0.90 | 1.07 | 52 | 62 | |
| Total Inferred | 24.7 | 1.50 | 0.92 | 371 | 227 |
*Notes: 1. CIM (2014) definitions were followed for mineral resources. | 2. Mineral resources are estimated at a NSR value of $70/t. | 3. Mineral resources are estimated using long-term prices of US$10.50/lb Ni and US$4.75/lb Cu and a US$: BWP exchange rate of 1.00:13.23. | 4. Mineral resources are estimated using nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario. | 5. Bulk density has been estimated and averages 3.39 t/m3 at Selebi Main and 3.60 t/m3 at Selebi North. | 6. Mineral resources are reported within conceptual underground reporting shapes considering a minimum thickness of 1.5 metres. | 7. There are no mineral reserves. | 8. Mineral resources that are not mineral reserves do not have demonstrated economic viability. | 9. Totals may not add or multiply accurately due to rounding.