Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 19

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 19
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 Craton. The mineralized body of the Selkirk deposit is hosted
within the Selkirk Formation (>1 km thick) which consists mainly of dacitic and rhyolitic volcaniclastic rocks and minor amounts of
mafic volcanic rocks, quartzites, and quartz sericite schists. The Selkirk Formation hosts the Phoenix, Selkirk, and Tekwane meta-gabbronoritic
intrusions and the Sikukwe meta-peridotite intrusion and the area around the project hosts intrusive magmatic nickel-copper-platinum
group element sulphide deposits, namely the Phoenix deposit, as well as the Tekwane and Cinderella exploration prospects.

Two
styles of mineralization are found at Selkirk: (1) massive sulphides (mined-out), located within the metagabbro intrusion as well as
small, massive sulphide accumulations at the base of the taxitic metagabbro intrusive, and (2) matrix and disseminated sulphides as a
halo surrounding and down-dip of the mined-out massive sulphide body. The disseminated zone that once included the mined-out sulphide
lens, lies 50 m to 100 m above the basal contact of the footwall quartz diorite and mimics the footwall contact. Currently available
drilling suggests that the shallow, previously mined, massive sulphide lens was synformal in shape and measured up to 70 m to 90 m wide,
averaged 20 m thick, and had a plunge extent of 200 m.

The
disseminated sulphide mineralization surrounding the massive sulphides is also synformal in shape, averages 120 m wide and 100 m to 150
m thick and plunges shallowly to the south at 25°. It is defined from surface over a distance of 900 m and remains open at depth.
Mineralization consists of pentlandite, pyrrhotite, chalcopyrite and pyrite. At least three generations of dykes crosscut the mineralized
metagabbro. Numerous faults traversing the deposit have been described in surface and underground mapping, none of which present significant
displacement at the deposit scale. The Selkirk metagabbro host has been attributed an age of 2.7 Ga.

Selkirk
Mine Mineral Resource Estimate, November 1, 2024:

    Classification 
    Tonnage  
    Grade  
    Contained Metal