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GreenX Metals (ASX:GRX) has activated an option to secure control of the Tannenberg Copper Project in Germany, declaring the “potential is enormous” at the 1,900km² licence area as it continues to dig for copper.
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“The potential upside of the Tannenberg Project is enormous,” the Australian explorer declared today, particularly considering its scale, prospectivity, key European location, and long history as a very productive mining region.
This option activation confirms Tannenberg’s expansion to seven times the original footprint, after GreenX picked up another chunk in November.
No slowdown planned for the explorer, either, with company chiefs eager to strike while European appetite for domestic sources of strategic raw materials is high. (Copper is now recognised as such thanks to a new act.)
“Whilst we’ve made tremendous gains in a short period, given the project’s potential scale, we’ve still barely scratched the surface. We intend to undertake more targeted exploration activities in the next 12 months or so, so we can delineate the project’s true potential,” said GreenX’s CEO, Ben Stoikovich.
Turning that potential into cash is key, too, Mr Stoikovich added. “Germany and the wider EU are introducing measures to accelerate permitting, support development, and improve security of supply for strategic raw materials such as copper. Importantly, these initiatives are now translating into direct financial support.
“This demonstrates a clear shift from policy intention to tangible action and reinforces the relevance of advancing a large-scale copper project in Germany.”
Advancements have already been running for some time before this pickup, with GreenX recently running an extensive review of archived drilling.
Modern assays and geological data have also been collected, with early re-assay results in Germany showing mineralised widths of one to 3.7 metres, with copper grades of up to 2.7% and silver up to 55 grams per tonne.
GreenX will now continue logging and assaying all historical core, reviewing geophysical data, digitising records, and preparing for twin drilling to verify historical results and work towards a JORC-compliant estimate.
GRX shares have been up +2.9% today, to 88cps.
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