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Nex Metals Exploration Limited (ASX:NME)

ALERT: Price-sensitive ASX Announcement for NME
Current share price for NME : $0.011 -0.008 (-42.11%)+
Announcement
Release
28 May 2026 2:41PM
Price at Release
$0.019
Full Release
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Summary
Nex Metals Explorations Ltd announced a strategic entry into Egypt’s Eastern Desert, confirming extensive quartz veining and alteration over a 5-kilometer strike at the North Henai Gold Project. The company retracted previous statements about gold mineralisation linked to visual observations, complying with ASX guidance. Ongoing artisanal gold production was noted, yet lacked systematic sampling or assay. Nex Metals plans a systematic sampling and assay program within 90 days and seeks approvals for shallow diamond drilling. The company, in collaboration with local partners Golden Eagle and SMRC, aims to apply modern mining techniques in this under-explored district, focusing on responsible and commercial project advancement.
Key Points
  • Nex Metals Explorations Ltd confirms extensive quartz veining and alteration at the North Henai Gold Project in Egypt.
  • Retraction of statements linking visual observations to gold mineralisation for compliance with ASX guidance.
  • Geological reconnaissance confirmed a 5-kilometer strike zone with up to 50 meters width of veining.
  • Artisanal gold production ongoing with no systematic sampling or assay conducted.
  • A systematic sampling and assay program is planned within the next 90 days.
  • Approvals are being sought from Egyptian authorities for shallow diamond drilling.
  • Potential for modern mining techniques identified due to the wide zones of alteration and veining.
  • Engagement with local partners Golden Eagle and Shalateen Mineral Resources Company.
  • The company is focused on advancing the project responsibly and commercially.
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.