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Nex Metals Exploration Limited (ASX:NME)

ALERT: Price-sensitive ASX Announcement for NME
Current share price for NME : $0.011 -0.007 (-38.89%)+
Announcement
Release
28 May 2026 8:34AM
Price at Release
$0.018
Full Release
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Summary
Nex Metals Exploration Limited has announced significant exploration progress at its North Henai Gold Project in Egypt's Eastern Desert. The company's geological reconnaissance has confirmed 5 kilometers of extensive quartz veining and alteration with gold-bearing structures up to 50 meters wide. Currently, gold is being mined artisanally without systematic sampling or assays. Nex Metals plans to initiate a systematic sampling and assay program within 90 days and is working to secure approvals for shallow diamond drilling. This project represents a strategic opportunity to apply modern exploration and mining practices in a largely under-explored district, in cooperation with local partners.
Key Points
  • Nex Metals Exploration Limited confirmed extensive quartz veining and alteration over a 5 km strike at North Henai.
  • The geological reconnaissance identified gold-bearing structures up to 50 meters wide.
  • Current artisanal mining is occurring without systematic sampling or assay work.
  • The company plans a systematic sampling and assay program within the next 90 days.
  • Approvals are being sought for shallow diamond drilling to further explore the project's potential.
  • The North Henai project is seen as an opportunity to apply modern mining techniques in an under-explored region.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.