GreenX Metals Launches 2026 Field Exploration at Eleonore North Project in East Greenland Targeting Gold, Tungsten, and Antimony

Eleonore North Project Location and Exploration Scope in East Greenland

GreenX Metals Limited has established operations at the Eleonore North Project on Ymer Island in East Greenland. The company’s exploration licence covers several target areas across this region, with field activities conducted under approval from the Greenland Mineral Resource Authority. The project’s location within a stable Western jurisdiction offers a strategic advantage for critical raw material development, providing a politically and regulatorily stable environment compared to major production hubs worldwide.

The project includes multiple mineralised zones that have seen limited modern exploration. The Eleonore North licence package features the Noa Pluton prospect and the North and South Margeries deposits, alongside newly identified targets generated through advanced prospectivity mapping and hyperspectral analysis. Surface expressions of tungsten and antimony mineralisation enable efficient mapping and rapid progress in both confirming known mineralisation and discovering new occurrences across the licence area.

Critical Raw Materials Status and Global Supply Concentration

Tungsten and antimony are officially designated critical raw materials by the European Union and the United States due to their essential roles in advanced manufacturing, defense, and clean energy technologies. The announcement highlights that global supplies of these metals remain heavily concentrated in China, creating strategic vulnerabilities for Western industrial sectors. This geopolitical context underscores the importance of the Eleonore North Project’s high-grade mineralisation, as sourcing these materials from stable Western jurisdictions aligns with policy goals to diversify critical mineral supply chains.

GreenX CEO Ben Stoikovich commented, "Tungsten and antimony are critical raw materials for both the European Union and the United States, and Eleonore North provides high-grade occurrences of both within a stable Western jurisdiction at a time when supply is heavily concentrated in China." This positioning reflects management’s recognition of growing demand for alternative sources and the potential premium valuations for critical mineral resources developed outside traditional production regions. The visible surface mineralisation supports efficient exploration and expansion of known deposits.

Noa Pluton Prospect: Intrusion-Related Gold System Expertise Applied

The Noa Pluton prospect is a primary focus for the 2026 field program, with GreenX engaging a specialist in Reduced Intrusion-related Gold System (RIRGS) geology to assess the deposit. This prospect offers dual commodities of interest: intrusion-related gold and antimony mineralisation. The specialist-led mapping and sampling aim to define geological controls, spatial relationships between gold and antimony, and identify drill targets for future exploration seasons. Employing RIRGS expertise demonstrates GreenX’s technical approach to advancing gold exploration in this frontier region.

Field activities at Noa Pluton include mapping and sampling to evaluate both antimony and intrusion-related gold potential. Results will be reviewed by the RIRGS expert to guide follow-up exploration, with further sampling planned to refine drill target generation. The announcement does not disclose previous gold or antimony assay results nor timelines for evaluation or drilling decisions. Additionally, newly generated RIRGS targets identified through improved geological understanding will be investigated during the summer fieldwork.

Bulk Sampling and Metallurgical Testing at North and South Margeries Deposits

The North and South Margeries deposits are the most advanced prospects within the Eleonore North portfolio, hosting identified tungsten and antimony mineralisation. The 2026 program includes collecting bulk samples of 50 kg to 100 kg from both deposits for scoping-level metallurgical sighter test work. This testing aims to provide preliminary insights into processing characteristics, recovery rates, and beneficiation options to inform future development and feasibility studies.

Archive core samples from both deposits were collected prior to fieldwork and are currently undergoing assay analysis, with results expected soon. Rock samples from the 2026 program will receive multi-element analysis, while bulk samples will undergo metallurgical testing. Recent hyperspectral analysis and prospectivity mapping have identified alteration anomalies along strike and adjacent to both deposits, representing potential satellite discoveries. Positive metallurgical results could justify extensional and infill drilling, especially if these anomalies are confirmed as tungsten and antimony mineralisation.

Archive Core Sampling and Ongoing Laboratory Analysis

Before fieldwork began, GreenX’s team collected samples from archived core at North and South Margeries deposits. These historical drill cores have been resampled using modern analytical methods to update assay data. The samples are currently being assayed, with results anticipated in the coming months. This approach enables the company to efficiently update geological and grade information without new drilling.

Rock chip samples collected during fieldwork will undergo multi-element analysis to fully characterise mineralisation. The company cautions that visual mineral identification from images is illustrative only, and laboratory assays are required for accurate grades. Rock chips, typically 5–15 cm in diameter, do not represent true mineralisation widths or trends. GreenX will update the market upon receipt of laboratory results, providing formal assay and multi-element data from core and surface samples collected in 2026.

Hyperspectral Analysis and New RIRGS Exploration Targets

GreenX has utilized advanced hyperspectral imaging to detect alteration anomalies associated with the North and South Margeries deposits and across the Eleonore North licence. Hyperspectral technology identifies mineral alteration signatures even with limited surface exposure. Prospectivity mapping has revealed previously untested anomalies along strike and near the deposits, which could represent satellite mineralisation discoveries if confirmed during fieldwork.

Furthermore, enhanced understanding of intrusion-related gold systems has generated new RIRGS exploration targets across the project area. These targets will be assessed during the 2026 summer field program under Greenland Mineral Resource Authority approval. The combined approach of following up hyperspectral anomalies and RIRGS targets demonstrates a systematic exploration strategy transitioning from known mineralisation to broader regional target generation based on improved geological knowledge and analytical tools.

CEO Ben Stoikovich Highlights Frontier Potential and Strategic Positioning

Ben Stoikovich, CEO of GreenX Metals Limited, stated, "Greenland is an exciting frontier for GreenX, and this program advances a portfolio of gold, tungsten, and antimony targets that have seen very little modern exploration." This reflects management’s view of the project as early-stage with significant upside potential upon achieving exploration goals. He emphasized the strategic importance of the targeted commodities and the operational benefits of the location, noting that surface mineralisation allows rapid advancement without extensive deep drilling initially.

Stoikovich also stressed GreenX’s strategic positioning amid global critical mineral supply chain dynamics: "Importantly, the tungsten and antimony mineralisation has a surface expression, which allows us to make rapid progress in expanding known mineralisation and generating additional targets." This operational advantage can accelerate exploration timelines and reduce initial development costs compared to deeply concealed deposits. The CEO’s remarks on growing understanding of intrusion-related gold systems indicate the company’s technical expertise and geological knowledge are driving efficient exploration resource allocation.

Metallurgical Test Work Goals and Future Drilling Plans

The scoping-level metallurgical sighter test work on bulk samples from North and South Margeries aims to provide preliminary processing insights without requiring a full feasibility study. These tests evaluate ore comminution, mineral liberation, concentration efficiency, and recovery potential. Outcomes will guide decisions on future drilling scale, process development, and prefeasibility studies. The announcement notes that extensional and infill drilling may follow positive test results, especially if hyperspectral anomalies are confirmed as tungsten and antimony mineralisation.

Future drilling decisions will depend on metallurgical data quality and 2026 fieldwork geological results. All results from the current program are expected in the coming months, informing management’s next exploration phases. Specific metallurgical targets, recovery assumptions, or timelines for test completion and decision-making were not disclosed. The 2026 program represents a structured progression from reconnaissance and sampling toward potential drilling, contingent on confirming economic potential through metallurgical evaluation.

GreenX Metals Limited Corporate Profile and Market Listings

GreenX Metals Limited is listed on multiple international exchanges, trading under the ticker -GRX on the Australian Securities Exchange (ASX), London Stock Exchange (LSE), and Warsaw Stock Exchange (GPW), with additional trading on the German Frankfurt Stock Exchange (FSE) under A3C9JR. This multi-exchange presence provides investor access across major developed markets and underscores its role as an international exploration company targeting frontier projects in stable jurisdictions. The company’s dual focus on gold and critical minerals (tungsten and antimony) offers diversified exposure to both traditional precious metals and emerging strategic commodities linked to energy transition and supply chain security.

Investor relations are managed across regions, with contacts including CEO Ben Stoikovich, Kazimierz Chojna (Investor Relations Poland), and Kim Eckhof (Investor Relations UK/Germany). This geographic distribution aligns with the company’s international listings and facilitates communication with shareholders and analysts globally. The company’s engagement with multiple exchanges highlights the Eleonore North Project’s importance to its investment thesis and strategic positioning within the global critical minerals exploration sector.