The GreenX Metals Ltd (ASX: GRX) share price is in focus today after the company announced the granting of two new exploration licences at its Eleonore North Project in Greenland, expanding its gold and critical minerals portfolio by 1,600 km². Fieldwork is complete and first results are expected this quarter.
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What did GreenX Metals report?
- Secured two new exploration licences, growing Eleonore North Project tenure to approximately 2,100 km²
- Multiple intrusion-related gold targets identified, with historical assays up to 50 grams per tonne gold
- Stream sediment sampling revealed anomalous gold, silver, tungsten, and arsenic
- Extensive tungsten mineralisation confirmed, designated a critical mineral by the US and EU
- Reconnaissance sampling and mapping of key targets completed, with results due in the coming months
What else do investors need to know?
GreenX's new licences secure exclusive rights over a suite of Caledonian intrusions in Greenland, which have never been tested by the reduced intrusion-related gold system (RIRGS) model. Historic exploration in the 1970s and 1980s revealed strong gold and tungsten potential, but recommended detailed follow-up was never undertaken.
Beyond gold, the project also targets tungsten—a material critical for defence, aerospace and high-strength applications. Recent Chinese export controls on tungsten have highlighted the importance of alternative supply sources, giving increased strategic significance to the project.
What did GreenX Metals management say?
GreenX CEO, Mr Ben Stoikovich, commented:
Securing 1,600 km² of new gold and critical minerals tenure takes our Eleonore North portfolio to approximately 2,100 km² across four licences and gives us exclusive rights to a suite of Caledonian intrusions that have never been tested against the reduced intrusion-related gold model. Documented gold and scheelite anomalism have sat in the public record here since the 1980s without follow-up. We have teams on the ground testing these intrusions this season, with a clear and disciplined program of work through 202.
What's next for GreenX Metals?
Field sampling and mapping activities for 2026 are now complete, with laboratory results expected this quarter. These results will help guide GreenX's next steps in evaluating the gold and tungsten potential of both the new and existing licences at Eleonore North.
GreenX is aiming to define new exploration targets and move towards more detailed programs. The company also plans to assess metallurgical testwork and further evaluate the broader mineral corridor, which extends through other company-controlled licences in the region.
GreenX Metals share price snapshot
Over the past 12 months, GreenX Metals shares have risen 14%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 2% over the same period.
