GreenX Metals Ltd on Monday said it has been selected to take part in BHP Group Ltd’s 2025 Xplor programme and will receive approximately $500,000 to support its Tannenberg copper project in Germany.
The Greenland-focused minerals exploration company said it took part in a ‘rigorous selection process’ to join the programme which aims ‘to support promising minerals explorers to accelerate the exploration needed to support the energy transition’.
GreenX will receive a one-off, non-dilutive grant of up to $500,000 from its participation in the six-month programme.
The company said this will accelerate its exploration plans at the Tannenberg copper project in Germany. It intends to use the grant for geophysics programmes in the licence area.
Chief Executive Officer Ben Stoikovich said: ‘This is an exciting opportunity for GreenX and a strong endorsement of the exploration potential of the Tannenberg project... The Tannenberg licence area contains historically producing copper mines and multiple historical drill intercepts, with excellent potential for new discoveries of shallow, large scale and high-grade copper and silver mineralisation, with much of the licence area remaining untested by modern exploration.
‘We are pleased to be recognised for our approach by BHP, a clear industry leader, and look forward to working with the BHP Xplor team going forward.’
GreenX Metals shares were up 1.5% to 35.00 pence in London on Monday morning.
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