GreenX Metals has leveraged a 2000 airborne hyperspectral survey to identify fresh high-priority tungsten, antimony, and gold targets at its Eleonore North Project in East Greenland. The discoveries sit adjacent to historical high-grade estimates, setting the stage for 2026 fieldwork aimed at advancing drill-ready targets.
- Reprocessed hyperspectral data reveals multiple new tungsten and antimony anomalies
- Targets located near existing high-grade historical estimates at North and South Margeries
- 2026 fieldwork to include bulk sampling and metallurgical testing
- Tungsten and antimony classified as critical raw materials with supply risks
- Licence area reduced following technical review
Legacy Hyperspectral Data Sparks New Exploration Targets
GreenX Metals Limited (ASX:GRX) has tapped into a two-decade-old airborne hyperspectral survey to unveil new high-priority tungsten and antimony targets at its Eleonore North Project in East Greenland. The reprocessing of this 2000 dataset, originally part of Greenland’s HyperGreen initiative, has highlighted multiple zones of hydrothermal alteration, pinpointing anomalies that lie along strike and adjacent to historical high-grade mineral estimates at the North and South Margeries prospects.
The significance of these metals extends beyond geology. Both tungsten and antimony are deemed critical raw materials by the European Union and the United States, with global supply chains heavily reliant on China. Discovering potential new deposits in a geopolitically stable jurisdiction like Greenland could have strategic implications amid growing supply concerns.
Walk-Up Surface Targets and Structural Insights
The prospectivity analysis, conducted by Germany’s TheiaX GmbH, identified a 2-kilometre-long anomaly near North Margeries, situated adjacent to a major east-west fault. At South Margeries, multiple anomalies cluster around the historical tungsten and antimony estimates, many coinciding with previously unmapped faults. These surface anomalies offer the tantalising possibility of walk-up discoveries, reducing the need for extensive initial drilling.
GreenX’s Chief Executive Officer Ben Stoikovich emphasised the strategic value of this work, stating that the new targets provide a clear pipeline for the upcoming 2026 field season. This approach leverages modern processing techniques on heritage data, minimising upfront costs while maximising exploration potential. The planned fieldwork will focus on confirming drill-ready targets and collecting bulk samples for metallurgical sighter testing, particularly at North and South Margeries.
Broader Exploration Plans and Licence Adjustments
Alongside tungsten and antimony, GreenX will also pursue gold targets at the Noa Pluton prospect. The hyperspectral data suggests structural controls consistent with a Reduced Intrusion-related Gold System (RIRGS), which will be evaluated by specialists through mapping and sampling.
Following a technical review, GreenX has relinquished the northern portion of licence MEL 2023-39, shrinking the licence area from 1,190 km² to 494 km² and reducing annual exploration obligations. This streamlining reflects a focus on the most prospective ground within the Eleonore North licences.
Historical Data and Next Steps
It is worth noting that the historical tungsten and antimony estimates at Margeries are not compliant with the JORC Code 2012 and have not been verified as mineral resources or ore reserves. The hyperspectral survey provides surface spectral anomalies but does not replace the need for ground truthing through sampling and drilling. GreenX plans to address these gaps in the 2026 field season.
This announcement builds on GreenX’s recent capital raising efforts, which have fortified the company’s balance sheet for exploration activities in Greenland and Germany. The fresh targets at Eleonore North complement ongoing work at the Tannenberg Copper Project in Germany, positioning GreenX to advance multiple critical mineral projects simultaneously. The company’s strategic use of legacy data to generate new targets exemplifies a cost-effective exploration model in the current market environment, as seen in its prior $13.6 million placement completed and German and Greenland Projects funding.
Bottom Line?
GreenX’s reimagining of legacy data has delivered promising tungsten and antimony targets, but the path from spectral anomalies to viable resources remains uncertain and hinges on the outcomes of upcoming fieldwork.
Questions in the middle?
- Will the 2026 fieldwork confirm the new targets as drill-ready deposits?
- How will metallurgical test results influence the economic viability of the Margeries prospects?
- Can GreenX leverage these critical mineral discoveries to attract strategic partnerships or off-take agreements?