GreenX Metals Secures 90% Stake in German Copper Exploration Project

GreenX Metals has announced an Earn-in Agreement to acquire a 90% interest in Group 11 Exploration GmbH, a private German company that holds the Tannenberg exploration licence. This project is located in central Germany and is considered highly promising for sediment-hosted copper deposits, specifically the Kupferschiefer type.

The Tannenberg exploration licence spans 272 square kilometers in the State of Hesse, covering the historic Richelsdorf copper-silver mines. Before their closure in the 1950s, the Richelsdorf mines produced 416,500 tonnes of copper and 33.7 million ounces of silver from Kupferschiefer deposits. These historic mines featured shallow underground workings accessible from surface outcrops.

The project includes multiple drill intercepts over the 14-kilometer-long Richelsdorf Dome target, highlighting its high priority for exploration. Notable drill results include:

• 2.1 meters at 2.7% copper and 48 g/t silver from 365.48 meters
• 1.5 meters at 3.7% copper and 33 g/t silver from 209.50 meters
• 2.5 meters at 1.8% copper and 19 g/t silver from 339.5 meters in the southwest of the license area
• 2.0 meters at 1.6% copper and 19 g/t silver from 268 meters in the northeast of the license area

Kupferschiefer-style deposits are a prolific subtype of sediment-hosted copper deposit, ranking as the second most prevalent source of copper production and reserves worldwide. These deposits have been historically mined in Germany and continue to be mined in Poland, where KGHM produced 592,000 tonnes of electrolytic copper in 2023.

The Tannenberg Project offers excellent potential for new discoveries of shallow (50 to 500 meters), large-scale, and high-grade Kupferschiefer-style copper deposits in the industrial center of Europe.