GreenX Metals (ASX:GRX) has been granted two new exploration licences with gold and tungsten potential at its Eleonore North project in Greenland, expanding the company's footprint in a region considered highly prospective for reduced intrusion-related gold systems (RIRGS).

Greenland has attracted growing exploration interest as Western governments seek to secure non-Chinese supply chains for critical minerals, with tungsten among the materials where supply concentration is most pronounced. China accounts for the overwhelming majority of global tungsten mine production, a factor that underpins the metal's inclusion on critical minerals lists in both the European Union and the United States.

The newly secured licences cover approximately 1,600 sq. km, bringing the total Eleonore North portfolio to roughly 2,100 sq. km across four licences. The company said the new tenure complements its existing tenements located 100 km to the north.

CEO Ben Stoikovich said the expansion gives GreenX exclusive rights to a suite of Caledonian intrusions that have not previously been evaluated against the reduced intrusion-related gold model.

“Securing 1,600 sq. km of new gold and critical minerals tenure takes our Eleonore North portfolio to approximately 2,100 sq. km 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,” Mr Stoikovich said.

“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 2026.”

Historical Data Review and Fieldwork

Prior to the summer fieldwork, GreenX re-logged and re-assayed archive drill core from the historical North Margeries Sb-W and South Margeries W deposits. The company also reprocessed historical airborne hyperspectral survey data covering the Margeries deposits, referencing an announcement dated 14 May 2026. The reprocessed data identified new targets that were visited during the field season.

Results from the July 2026 fieldwork are expected in the coming months. Fieldwork has now concluded, with first results anticipated this quarter.

Reconnaissance sampling and mapping were conducted to test the RIRGS model over the Caledonian intrusions within the new licences. This programme was carried out in conjunction with ongoing exploration at the existing Eleonore North licences. The company reported extensive evidence of tungsten mineralisation in the form of scheelite from stream sediment sampling.

Tungsten's Strategic Significance

Tungsten is widely used in high-strength applications and armour-piercing ammunition, making it one of the foremost defence materials. The European Union designates tungsten as a strategic raw material, while the United States classifies it as a critical mineral.

Historical Exploration Context

The area now covered by the new licences has a documented exploration history dating back several decades. In 1975, Nordmine collected gold-mineralised boulders and veins from the area. Follow-up exploration involved stream sediment sampling throughout the region in 1979 and 1980, with heavy mineral concentrates from those surveys analysed in 1983. Gold, scheelite, and other indicator elements were detected within the licence areas.

In 1983, geologists visited the site and recommended detailed follow-up exploration for gold and scheelite; however, no further work was carried out. Nordmine held an exclusive mineral licence covering 100,000 sq. km in East Greenland until its liquidation in 1992.

GreenX Metals traded at 88 cents per share with a market capitalisation of $273.9 million.