REG - GreenX Metals Ltd - Efficient ATVs Deployed for Greenland Exploration

GreenX MetalsAnnouncement

04/08/2022 07:15

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RNS Number : 8637U  GreenX Metals Limited  04 August 2022

GREENX METALS LIMITED

 

NEWS RELEASE  4 AUGUST 2022

 

HIGHLY EFFICIENT & LOW IMPACT ATV's DEPLOYED FOR GREENLAND EXPLORATION

 

 ·                             Advanced all-terrain vehicles (ATVs) are currently being deployed for upcoming
                               mineral exploration program at the ARC Project in Greenland
 ·                             Three Sherp N1200 ATVs with customised trailers will allow for efficient
                               lower-cost exploration and will remain in Greenland for future programs
 ·                             The Sherps provide increased flexibility, lower fuel consumption, lower
                               carbon-footprint and extend the duration of in-field deployment compared to a
                               traditional helicopter exploration solution
 ·                             The Company continues it's focus on using cutting-edge exploration technology
                               for maximum results and minimal environmental impact

 

GreenX Metals Limited (ASX:GRX, LSE:GRX) (GreenX or the Company) is pleased to
report that three advanced all-terrain vehicles (ATVs) will be deployed for
its upcoming exploration program at the Arctic Rift Copper project (ARC or the
Project) in Greenland. The Sherps will remain in Greenland and provide
substantial cost savings and enhanced access to start exploration programs in
future years.

Deployment of three customised Sherp N1200 ATVs with customised trailers
demonstrates the Company's cutting-edge approach to exploration at ARC. These
vehicles represent a fundamental change to the way that mineral exploration is
conducted in Greenland, focusing on maximum results with substantial costs
savings, increased flexibility, minimal fuel consumption, low carbon
emissions, and low environmental impact - while ensuring best-in-class safety
for all field personnel.

The deployment of the Sherps demonstrates the Company's commitment to
high-technology, low-impact exploration in one of the world's last great
mineral frontiers, with a strategy focussing on responsible exploration and
significant energy metal discovery.

Ben Stoikovich, Chief Executive Officer of GreenX commented: "The Sherp ATVs
have the potential to significantly de-risk exploration in Greenland's unique
environment. They align with our commitment to low-cost, high-technology
exploration of Greenland and will assist us to unlock and fast-track the
tremendous potential we see in ARC. As the Sherps will remain in Greenland,
this will provide us with substantial cost reduction in future years, and also
greatly increase our flexibility when planning and commencing future
exploration programs."

Dr Jon Bell, technical director of GreenX commented: "We are excited to be the
first users of the Sherp in Greenland. These machines create the opportunity
for field seasons that are substantially longer than previously possible - we
think they are a 'game changer'. Importantly, safety is increased
substantially, while the environmental footprint is a fraction of what was
previously possible."

High-technology, low-impact exploration program

A ground-up analysis of existing exploration practices across Greenland and
surrounding regions demonstrated that although helicopters are often
exclusively relied on for transport in Greenland, ATVs can be very effective
and provide cost, safety, and environmental advantages over a solely airborne
solution.

GreenX estimates that for its 2022 program, it is saving over 4,700 litres of
fuel through exploration-by-ATV over a traditional helicopter exploration
solution. Consequently, this year's exploration program is estimated to
require almost 85% less fuel compared to use of airborne exploration
techniques.

To realise these advantages, GreenX and its joint venture partner, Greenfields
Exploration Ltd (GEX) began a global search for adaptable, rugged vehicles
which could replace helicopters in a wide range of applications. Following
this search, the Company commissioned Sherp Global to produce specially
customised ATVs and trailers.

 

The fleet of Sherp ATVs will be used for transport, accommodation, and
equipment storage during the field campaign, creating a largely self-contained
and modular camp setup which can be positioned and remobilised to focus on
areas of interest within the ARC project. Reducing the need to return to a
centralised basecamp each night improves safety, fuel consumption, ground
impact, all while maximising the efficiency of the workday. Furthermore, the
exploration team can be fully enclosed and protected against weather and
wildlife hazards. This is not currently possible under any conventional
fieldwork strategy used in Greenland.

SHERP N1200 ATVs

Sherp Global manufacture the Sherp N1200 which is a world-leading diesel
vehicle with extreme capability across rough terrain, ice, snow, and water. It
can clear obstacles up to 1 m high, traverse moving water obstacles, and
operate in extreme conditions. Importantly, the N1200 uses ultra-low-pressure
tyres which minimise the impact that this vehicle has on the ground. In many
environments, the N1200 vehicle leaves no tracks.

From the base model, Greenfields and the Company made several customisations
to increase the capability of the N1200, creating the 'GreeNlander'
specification. Along with additional insulation and safety features, the
GreeNlander features sleeping places for up to four personnel, additional fuel
storage and transfer equipment, and one vehicle is equipped with a snowplough.
The ATVs can be lifted by their roofs by a crane and have full capacity for
self-recovery in the case of any incident.

In the Company's view, the GreeNlander may be the most capable vehicle for
polar exploration ever built.

ABOUT THE ARCTIC RIFT COPPER PROJECT

The Arctic Rift Copper Project is an exploration joint venture between GreenX
and GEX.  GreenX can earn 80% of ARC by spending A$10 M by October 2026. The
ARC project is targeting large scale copper in multiple settings across a
5,774 km(2) Special Exploration Licence in eastern North Greenland. The area
has been historically underexplored yet is prospective for copper, forming
part of the newly identified Kiffaanngissuseq metallogenic province.  This
province is thought to be analogous to the Keweenaw Peninsula of Michigan,
USA, which contained a pre-mining endowment of +7 Mt of copper contained in
sulphides and 8.9 Mt of native copper.  Like Keweenaw, ARC is known to
contain at surface, high-grade copper sulphides, 'fissure' native copper, and
native copper contained in what were formerly gas bubbles and layers between
lava flows.

 

-ENDS-

Forward Looking Statement

This release may include forward-looking statements, which may be identified
by words such as "expects", "anticipates", "believes", "projects", "plans",
and similar expressions. These forward-looking statements are based on
GreenX's expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of GreenX, which could cause actual
results to differ materially from such statements. There can be no assurance
that forward-looking statements will prove to be correct. GreenX makes no
undertaking to subsequently update or revise the forward-looking statements
made in this release, to reflect the circumstances or events after the date of
that release.

To view this announcement in full, including all figures and illustrations,
please refer to www.greenxmetals.com (http://www.greenxmetals.com) .

 

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