GreenX’s Exploration Boost Hinges on BHP Survey Results and Capital Raise

Strategic Partnership with BHP Accelerates Exploration

GreenX Metals Limited has taken a significant step forward in its copper exploration ambitions with the launch of an airborne geophysical survey at the Tannenberg Copper Project in Germany. This survey is fully funded by the BHP Xplor program, a competitive initiative supporting early-stage exploration projects. Selected in January 2025, Tannenberg is among eight projects benefiting from BHP’s backing, underscoring the strategic importance of this region.

The survey will cover approximately 602 line kilometres, collecting high-resolution magnetic and radiometric data via helicopter. These measurements are designed to reveal critical geological structures such as deposit-scale faults and the extent of historical underground workings, which are key to understanding mineralisation controls in the area.

Revitalising a Historic Mining District

The Tannenberg project sits within the historically productive Richelsdorf Mining District, known for copper and silver deposits. Despite its rich mining heritage, much of the expanded 1,900 square kilometre licence area remains underexplored by modern techniques. The project’s shallow depth targets, ranging from 50 to 500 metres, offer promising potential for discovering large-scale, high-grade copper mineralisation reminiscent of Kupferschiefer-style deposits, which are globally significant sources of copper.

GreenX’s CEO, Ben Stoikovich, highlighted that this survey represents the first major exploration activity at Tannenberg in over four decades. The collaboration with BHP and local German service providers ensures the survey is both technically robust and safely conducted, employing a nose boom configuration to navigate mixed rural and urban environments.

Capital Raise Strengthens Financial Position

Alongside the survey announcement, GreenX confirmed the successful completion of a placement raising approximately A$4.6 million through the issuance of 7.1 million new shares at A$0.65 each. Supported by both new and existing investors, this capital injection complements the company’s existing cash reserves of A$3.7 million as of April 2025, ensuring a strong balance sheet to support ongoing exploration and business development activities.

The net proceeds from the placement are earmarked for working capital and advancing the broader exploration program, which includes re-logging and re-assaying historical drill core, hyperspectral scanning, and detailed analysis of archived geophysical and mining data. These efforts aim to build a comprehensive geological model to guide future drilling and resource definition.

Looking Ahead

The airborne survey is expected to be completed within a week, with data processing and analysis to follow. The insights gained will be pivotal in refining exploration targets and unlocking the full potential of the Tannenberg project. As GreenX leverages BHP’s expertise and funding, the company positions itself to make meaningful advances in copper exploration within a strategically important European mining jurisdiction.