1940 Historical Estimate of Significant Scale: Historical Estimate from 1940 identifies 728,000 tonnes contained copper (1,605 Mlbs) at an average grade of 2.6% copper in part of Tannenberg Project licence area discovered from original project data archives
Estimate based on a 1935-1938 National Socialist Government drilling campaign across four zones: Ronshausen, Hönebach, Wolfsberg and Schnepfenbusch
Drilling targeted the thin Kupferschiefer horizon only
Focused only on copper and did not include by-product metals
1984 Historical Estimate provides Validation: Independent company St Joe Exploration GmbH conducted limited drilling between 1980 and 1984, further validating the 1940 historical estimate
Drilling focused on only 28% of the Ronshausen zone but included by-product silver
Drilling identified up to 3.45m thick mineralisation straddling the Kupferschiefer and the limestone hanging wall and sandstone footwall above and below the Kupferschiefer
1984 historical estimate shows consistent grades of 2.1% copper plus 25 g/t silver with 169,000 tonnes of contained copper and 6.5 million ounces of silver
Exploration Upside Potential under Modern Interpretation: St Joe Exploration confirmed thicker widths of copper and silver mineralisation at Ronshausen, and more may exist up to 30m above and 60m below the Kupferschiefer in the limestone hanging wall and sandstone footwall
Hypothesis is consistent with modern understanding of the Kupferschiefer deposit model as demonstrated at KGHM’s Polish mining operations which are also found on the same geological structure as the Tannenberg Project
Active Exploration Program: GreenX is currently relogging and resampling over 4km of archived core from 47 holes to upgrade historical data to modern standards
Investigation of German mining archives and the digitisation of original historical data continues
Planning of future twin drilling campaign to verify the historical estimates, and to establish a mineral resource estimate in accordance with the JORC Code (2012) (JORC Code)
Cautionary statement: The historical estimates in this announcement are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimate as a mineral resource or ore reserve in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimate will be able to be reported as a mineral resource or ore reserve in accordance with the JORC Code.
GreenX’s Chief Executive Officer, Mr Ben Stoikovich, commented: “This represents a significant breakthrough in our archive search and fundamentally supports our exploration hypothesis of the Tannenberg mineral system. It demonstrates that extensive copper mineralisation was identified historically, but exploration at the time was constrained by the prevailing geological model, which focused solely on the thin Kupferschiefer shale and the urgent need to mine given the outbreak of World War II. The 1940 historical estimate, based on a narrow-mineralised interval and excluding byproduct silver, was further validated by the 1984 work and modern understanding from Poland’s Kupferschiefer mining operations, together confirming that copper mineralisation extends beyond the Kupferschiefer horizon and providing major proof of concept and clear alignment with GreenX’s geological model. The implications are substantial, reinforcing the potential for a large-scale and high-grade brownfield copper project at Tannenberg, and underscoring the project’s significance as a major European copper opportunity.”
Source: www.greenxmetals.com
Aleksei Andrievskii is the founder of the ANDRIEVSKII SEA WEALTH family office in Cyprus, a member of the advisory board at Bendura Bank AG, Liechtenstein