GreenTech Metals’ Copper Focus Risks Lithium Momentum as Drilling Intensifies at Whundo

Whundo Copper Project: Drilling Momentum Builds

GreenTech Metals (ASX:GRE) has intensified its exploration efforts at the Whundo copper-zinc project in Western Australia's West Pilbara region, commencing a substantial 4,000-metre stage 2 diamond core drilling program. This follows a successful stage 1 reverse circulation (RC) drilling campaign that delivered promising results, underscoring the potential for a significant resource expansion beyond the current 6.2 million tonnes grading 1.12% copper and 1.04% zinc.

The stage 1 program, completed earlier in 2024, targeted key mineralised shoots at Austin, Shelby, Yannery, and Ayshia, with assays confirming thick, high-grade copper zones. Notably, drill holes at Austin returned intercepts such as 16m at 1.2% Cu, while Ayshia showed strong down-plunge mineralisation with grades up to 3.4% Cu over nearly 14 metres. These results have validated the presence of multiple under-explored mineral shoots that could materially increase the Whundo resource base.

Geophysical Surveys Inform Next Steps

Complementing the drilling, GreenTech completed a high-powered Fixed Loop Electromagnetic (FLEM) survey over the Whundo-Austin-Shelby-Yannery cluster late in 2024. The survey has identified new conductor plates, some with conductivity signatures exceeding 15,000 siemens, which are indicative of potentially significant sulphide mineralisation. These geophysical targets are guiding the ongoing stage 2 drilling, with downhole electromagnetic (DHEM) surveys planned to refine and extend the mineralised zones further.

The Shelby prospect, for example, has revealed a highly conductive plunging conductor plate over 400 metres long and up to 100 metres wide, which remains untested at depth. This target, alongside others, could add substantial tonnage and grade to the Whundo project, enhancing its development potential.

Lithium Projects on Hold as Copper Takes Priority

While GreenTech holds compelling lithium assets in the Pilbara region, including the Ruth Well and Osborne JV projects, no field activities were undertaken during the quarter. The company has cited a strategic focus on advancing copper exploration at Whundo as the primary reason. Despite a retreat in lithium prices, GreenTech remains confident in the long-term prospectivity of its lithium tenements, with heritage clearances and approved programs of work in place to enable future drilling.

Financial Position and Corporate Update

GreenTech ended the December quarter with approximately $0.7 million in cash. However, the company successfully completed the second tranche of a capital raising announced in November 2024, securing an additional $1.5 million in early January 2025. This injection bolsters the company’s financial capacity to fund ongoing exploration activities, including the intensive drilling campaign at Whundo.

Exploration expenditure for the quarter totaled $624,000, reflecting the company’s commitment to advancing its copper assets. Director and consulting fees amounted to $67,000 during the period. GreenTech’s management remains optimistic about the near-term potential to expand the Whundo resource and progress towards development options, including potential processing partnerships with nearby facilities.

Outlook: A Copper-Centric Strategy

GreenTech Metals is clearly positioning itself as a copper-focused explorer in the battery metals space, leveraging its West Pilbara landholding to target high-value copper-zinc deposits. The ongoing drilling and geophysical work at Whundo could unlock a step-change in resource scale, critical for attracting development capital and advancing towards production.

While lithium remains a strategic asset class for the company, the current market dynamics and exploration results have shifted immediate attention to copper, a metal integral to electrification and renewable energy infrastructure. Investors will be watching closely as assay results from the stage 2 drilling program emerge and as GreenTech integrates geophysical data to refine its resource models.