AUS
NZ
UK
CA
USA
IND
GreenX Metals Limited has launched its 2026 field exploration at the Eleonore North project in East Greenland, concentrating on key gold, tungsten, and antimony mineralisation targets. The company is undertaking detailed mapping, sampling, and bulk material collection across several prospects, including the Noa Pluton gold-antimony target and the North and South Margeries tungsten and antimony deposits. This timing is crucial as tungsten and antimony are designated critical raw materials by both the European Union and the United States, with global supplies predominantly sourced from China.
Key Points
- GreenX Metals Limited (ASX: GRX, LSE: GRX, GPW: GRX, Germany-FSE: A3C9JR) has commenced its 2026 fieldwork at the Eleonore North project in East Greenland.
- The exploration campaign targets gold, tungsten, and antimony mineralisation across multiple prospects using expert geological teams.
- Bulk sampling of 50 kg to 100 kg of tungsten and antimony-mineralised material is underway at the North and South Margeries deposits to support metallurgical test work.
- Archive core samples from North and South Margeries have been collected and are currently undergoing assay, with results anticipated in the coming months.
- A Reduced Intrusion-related Gold System (RIRGS) specialist is assessing the Noa Pluton prospect alongside previously identified untested hyperspectral targets in the region.
2026 Active Exploration Program Underway at Eleonore North Following Hyperspectral Targeting
GreenX Metals Limited has begun active field exploration at its Eleonore North project on Ymer Island, East Greenland, advancing a portfolio of gold, tungsten, and antimony targets with minimal prior modern exploration. The field team is progressing work on high-priority prospects and newly identified targets across the licence area, with programs approved by the Greenland Mineral Resource Authority. Specialist geological teams are conducting targeted exploration and sampling to enhance understanding of mineralisation characteristics and generate new exploration targets.
Recent hyperspectral analysis and prospectivity mapping revealed alteration anomalies along strike and adjacent to the North and South Margeries deposits. These untested anomalies represent potential satellite discoveries and are incorporated into the current field evaluation. Reconnaissance prospecting across newly identified Reduced Intrusion-related Gold System targets aims to deepen the company's knowledge of intrusion-related gold systems in the Eleonore North region. This fieldwork leverages expanding geological insights to identify previously unrecognised targets.
North and South Margeries Deposits: Bulk Sampling and Metallurgical Testing to Support Scoping Study
GreenX Metals is conducting bulk sampling at the North and South Margeries deposits to facilitate scoping study metallurgical sighter test work. Samples ranging from 50 kg to 100 kg of tungsten and antimony-mineralised material are being collected from each deposit. These samples will undergo metallurgical testing to provide preliminary insights into the metallurgy and processing characteristics of the mineralised material. Bulk sampling complements ongoing rock sampling programs, with multi-element analysis underway. Metallurgical results are expected in the coming months and will guide decisions on follow-up drilling and further exploration.
Archive core samples from both Margeries deposits were collected before fieldwork commenced and are currently being assayed. Depending on metallurgical outcomes, especially if hyperspectral anomalies are confirmed as antimony and tungsten mineralisation, extensional and infill drilling may be warranted. This phased exploration approach enables informed capital allocation for drilling based on positive metallurgical and geochemical data. Upcoming results will be pivotal in assessing the deposits' prospectivity and potential for future resource definition.
Noa Pluton Gold-Antimony Target: RIRGS Specialist Evaluation and Drill Target Development
A Reduced Intrusion-related Gold System specialist has been engaged to evaluate the Noa Pluton prospect, focusing on gold-antimony mineralisation. The specialist is conducting detailed mapping and sampling to assess the prospect’s antimony and intrusion-related gold potential and to identify drill targets. This geological assessment aims to advance Noa Pluton from initial exploration to drill target prioritisation. The specialist’s expertise aligns with the geological context of East Greenland, where the company’s growing understanding has led to the identification of additional targets.
Findings from the Noa Pluton evaluation will guide further gold and antimony sampling and support follow-up exploration programs, including drill target identification for future seasons. This methodical progression from reconnaissance to detailed prospect assessment aligns with the company’s strategic goal of advancing its Greenland exploration portfolio and generating drill-ready targets.
Critical Raw Materials Tungsten and Antimony: Strategic Opportunity in East Greenland
Tungsten and antimony are classified as critical raw materials by the European Union and the United States due to their importance in industrial and defence sectors. Global supplies are heavily concentrated in China, raising supply security concerns for Western nations. The Eleonore North project hosts high-grade tungsten and antimony mineralisation within East Greenland, a stable Western jurisdiction with established mining regulations. This location offers a strategic advantage as Western economies seek to diversify supply chains and reduce reliance on Chinese sources. The surface expression of these minerals at Eleonore North enables rapid expansion of known mineralisation and target generation without deep drilling.
The critical raw material designation reflects global shifts in supply chain policies and investment priorities. Western governments and industries increasingly focus on securing critical minerals from politically stable, allied jurisdictions. GreenX Metals’ focus on tungsten and antimony development in East Greenland addresses this strategic need. Exploration success at Eleonore North could position the company as a key contributor to Western supply security while benefiting from policy support and investment directed at critical minerals. The surface accessibility of mineralisation offers operational advantages over deep underground deposits.
GreenX Metals’ International Listings and Greenland Operations
GreenX Metals Limited conducts exploration in Greenland and is listed on multiple international exchanges: Australian Securities Exchange (ASX:GRX), London Stock Exchange (LSE:GRX), Warsaw Stock Exchange (GPW: GRX), and German Frankfurt Stock Exchange (FSE: A3C9JR). This multi-exchange presence facilitates access to capital markets across Europe, Australia, and Poland, reflecting the company’s geographic and investor diversification. The Eleonore North project remains a central focus of its Greenland exploration efforts.
This multi-listing structure provides operational flexibility and diverse capital access. Greenland’s stable governance and regulatory framework make it an attractive frontier exploration jurisdiction. Ben Stoikovich, CEO, is authorised to speak on company exploration strategy and developments. Investor relations representatives are appointed across Poland and the UK-Germany region, corresponding to the company’s shareholder distribution.
2026 Fieldwork Progress and Timeline for Results
The 2026 fieldwork at Eleonore North on Ymer Island is progressing through the summer season. Field teams are actively conducting mapping, sampling, and bulk material collection at prospects including Noa Pluton, North Margeries, and South Margeries. Archive core samples have been submitted for assay, with results expected soon. Metallurgical sighter testing on bulk samples from the Margeries deposits is underway, with outcomes anticipated in the coming months. These concurrent activities aim to deliver data that will inform follow-up exploration and drilling decisions.
The summer season is critical for data collection due to East Greenland’s weather and logistics constraints. Upcoming assay and metallurgical results will be crucial in evaluating the Margeries deposits’ prospectivity and mineralisation suitability for development. The company plans staged result releases to keep investors informed on exploration progress and project potential.
Company Update Amendment Ensures Compliance with ASX Listing Rules
On 24 July 2026, GreenX Metals issued an amended company update titled "2026 Fieldwork Underway at Eleonore North," revising the original 22 July 2026 release. The amendment retracted Photo 3, as it did not fully comply with Listed@ASX Compliance Update No. 04/23 regarding visual mineral abundance estimates. The company was unable to accurately estimate mineral abundance from the image and withdrew it to maintain ASX compliance.
Investors were explicitly advised not to rely on the retracted Photo 3 for investment decisions. This action underscores the company’s commitment to ASX disclosure standards. The withdrawal does not affect the described exploration activities or ongoing work at Eleonore North. Two other photos showing a helicopter view of southern Ymer Island and the field team at South Margeries remain in the official update.
RIRGS Specialist Evaluation and Future Drill Target Identification
Deploying a Reduced Intrusion-related Gold System specialist at Eleonore North highlights GreenX Metals’ focus on gold mineralisation linked to intrusive igneous systems. RIRGS deposits are characterised by gold mineralisation genetically related to reduced intrusive rocks. The specialist’s detailed geological assessment at Noa Pluton aims to identify drill targets for future seasons. This expert-driven approach optimises exploration expenditure and targets the most prospective zones.
The company’s expanding knowledge of intrusion-related gold systems has led to additional RIRGS target identification beyond earlier recognised prospects. Reconnaissance prospecting across new targets seeks to broaden exploration opportunities and pinpoint drill-ready prospects. Noa Pluton evaluation results will guide prioritisation of drilling targets. This systematic prospect development reflects best-practice exploration and efficient capital use in advancing Greenland projects.
Strategic Exploration Investment Amid Critical Minerals Supply Challenges
GreenX Metals’ active exploration at Eleonore North aligns with global trends emphasizing critical minerals supply security. The EU and US classify tungsten and antimony as critical raw materials vital for industrial, manufacturing, and defence uses. China’s dominance in global supply creates strategic risks for Western economies. GreenX Metals’ East Greenland activities address these concerns by developing alternative sources in a stable Western jurisdiction.
CEO Ben Stoikovich describes Greenland as an exciting frontier for exploration, highlighting the strategic importance of high-grade tungsten and antimony deposits in a stable jurisdiction. The company’s portfolio of gold, tungsten, and antimony targets positions it to benefit from policy support and investment targeting critical minerals. Successful exploration and resource definition at Eleonore North could establish GreenX Metals as a key supplier for Western industries and governments seeking to diversify supply chains away from China. The 2026 fieldwork marks a significant step toward this strategic goal.
