GreenX Metals makes strategic gold, critical minerals portfolio additions in Greenland

• Multiple intrusion-related gold targets identified in two new licences
• Exploring Eleonore North project for reduced intrusion-related gold systems
• Gold assays up to 50 g/t previously reported
• Extensive evidence of tungsten mineralisation in the form of scheelite from stream sediment sampling

GreenX Metals (ASX:GRX) has been granted two new exploration licences with gold and tungsten potential at the Eleonore North project in Greenland.

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The company has secured exclusive rights to around 1,600 sq. km of tenure considered prospective for reduced intrusion-related gold systems (RIRGS).

CEO, Ben Stoikovich, said these new licences complement the company’s existing tenements located 100 km to the north.

“Securing 1,600 sq. km of new gold and critical minerals tenure takes our Eleonore North portfolio to approximately 2,100 sq. km across four licences and gives us exclusive rights to a suite of Caledonian intrusions that have never been tested against the reduced intrusion-related gold model,” Mr Stoikovich said.

“Documented gold and scheelite anomalism have sat in the public record here since the 1980s without follow-up. We have teams on the ground testing these intrusions this season, with a clear and disciplined program of work through 2026.”

Prior to the summer fieldwork, the company re-logged and re-assayed archive drill core from the historical North Margeries Sb-W and South Margeries W deposits.

Additionally, historical airborne hyperspectral survey data covering the Margeries deposits was reprocessed (refer to announcement dated 14 May 2026). That data provided new targets which were visited during the field season. Results from the July 2026 fieldwork are expected in the coming months.

Extensive evidence of tungsten mineralisation in the form of scheelite from stream sediment sampling. Tungsten is one of the foremost defence materials, widely used in high-strength applications and in armour-piercing ammunition. Tungsten is designated as a strategic raw material by the EU and a critical mineral by the US.

Fieldwork is now complete, with first results expected this quarter. Reconnaissance sampling and mapping have tested the RIRGS model over the Caledonian intrusions within the new licences. This fieldwork was run in conjunction with exploration at the existing Eleonore North licences.

In 1975, Nordmine collected gold-mineralised boulders and veins from the area now covered by the new licences. Follow-up exploration involved stream sediment sampling throughout the region in 1979 and 1980. Heavy mineral concentrates from the earlier surveys were analysed in 1983. Gold, scheelite, and other indicator elements were detected within the licence areas.

In 1983, geologists visited the site and recommended detailed follow-up exploration for gold and scheelite; however, no further exploration was conducted. Nordmine held an exclusive mineral licence covering 100,000 sq. km in East Greenland until its liquidation in 1992.

GRX is steady at 88¢ with a Mkt cap of $273.9M.

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