Can GreenX Turn Historic Copper Data into a Modern European Mining Success?

Historical Data Unearthed

GreenX Metals Limited has announced a breakthrough discovery in its ongoing exploration of the Tannenberg Copper Project in Germany. The company uncovered a substantial historical estimate from 1940, revealing 728,000 tonnes of contained copper at an average grade of 2.6%. This estimate, derived from a 1935-1938 drilling campaign by Mansfeldsche Kupferschieferbergbau AG, focuses on the Kupferschiefer shale horizon, a classic copper-bearing geological formation.

Further validation comes from a 1984 drilling program by St Joe Exploration GmbH, which confirmed the copper grades and identified significant silver by-product mineralisation. This later work also revealed thicker mineralised zones extending beyond the narrow Kupferschiefer shale, suggesting a more extensive copper system than previously understood.

Modern Interpretation and Exploration Upside

The historical focus on the thin Kupferschiefer layer limited earlier exploration efforts. GreenX’s current geological model, informed by modern understanding from analogous Polish deposits operated by KGHM Polska Miedź S.A, hypothesises that up to 95% of mineable copper may reside in the surrounding footwall sandstone and hanging wall limestone units. This represents a significant expansion of the potential mineralised envelope at Tannenberg.

GreenX is actively re-logging and resampling over 4 kilometres of archived drill core from 47 holes to upgrade the historical data to contemporary standards. This work aims to refine exploration targets and support a future twin drilling campaign designed to verify the historical estimates and establish a mineral resource compliant with the JORC Code.

Strategic Implications and Next Steps

The rediscovery of these historical estimates and drill data not only saves GreenX considerable time and expense; modern drilling of the 95 holes would cost over €25 million; but also provides a robust foundation for advancing the Tannenberg Project. The company’s CEO, Ben Stoikovich, emphasised the significance of this find, noting it aligns closely with GreenX’s exploration hypothesis and underscores the project’s potential as a large-scale, high-grade copper opportunity in Europe.

Looking ahead, GreenX plans to complete the relogging and sampling program within the next 12 months, followed by twin drilling to confirm the historical data. While the historical estimates are not yet JORC-compliant and require further verification, the company’s methodical approach aims to convert these promising figures into a formally recognised mineral resource.

Environmental considerations are also in focus, with the project area encompassing several protected zones. GreenX has conducted due diligence indicating that exploration and potential mining can proceed in compliance with applicable regulations.