Dual-listed explorer GreenX Metals (ASX:GRX) has confirmed the presence of a major copper source beneath its Tannenberg Project in Germany after wrapping up a 58 square kilometre magnetic and radiometric survey.
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The survey, run across the historic Richelsdorf copper district, highlighted deep-seated geological structures directly beneath old mine workings.
Most notably, GreenX – which has shares listed on the ASX as well as on London and Warsaw exchanges – has spotted the Mid-European Crystalline Zone in the area; that belt is considered the primary source of copper in Kupferschiefer deposits across Germany and even into Poland dig sites as well.
With it under Tannenberg, the Australian explorer is now convinced the area has “strong potential to host significant mineralisation,” increasing exploration value.
“After 40 years without modern exploration, we’ve identified… previously unknown geological features [at] Richelsdorf that will form a fundamental part of our understanding of the system,” said GreenX’s CEO, Ben Stoikovich.
“Our historic archive review is progressing at pace, and with the… geophysics results, continues to contribute to our confidence in the value of this project.”
Magnetic and gravity data have revealed two large anomalies interpreted as deep volcanic rocks within uplifted basement blocks under the mine. These anomalies extend beyond the initial survey area into the Tannenberg 2 licence (also held by GreenX), broadening the project’s exploration footprint.
On the hunt for this extension, GreenX is now working through a comprehensive program that includes core relogging, geological modelling, and more.
HotCopper understands that work will run through to Oct. 31 before results return.
BHP Xplor has been brought on to help with ongoing surveys in the area.
GRX shares have climbed +2% on today’s news.
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