GreenTech Metals Secures Majority Stake in Munni Munni PGE Project, Drilling Set for 2026

Strategic Acquisition in the Pilbara

GreenTech Metals Limited (ASX, GRE) has announced a binding agreement to acquire a majority interest in the Munni Munni Platinum-Palladium-Copper-Nickel Project, located in Western Australia's prolific West Pilbara region. The deal grants GreenTech an initial 70% stake with an option to increase to 80% within 12 months, marking a significant expansion of its footprint adjacent to the Whundo Copper-Gold deposit.

This acquisition consolidates a contiguous land package of approximately 346 square kilometres, positioning GreenTech as one of the largest tenement holders in the district. The Munni Munni Project is renowned for its high-grade platinum group elements (PGEs) and base metals mineralisation, hosted within a layered mafic-ultramafic intrusion known as the Ferguson Reef.

Historical Resource and Exploration Potential

The project boasts a substantial historical Mineral Resource Estimate (MRE) reported under JORC (2004) standards, comprising 24 million tonnes at 2.9 grams per tonne of combined PGEs and gold, equating to approximately 2.2 million ounces. This estimate, while not compliant with current JORC (2012) standards, is underpinned by extensive drilling, 396 holes totaling over 93,000 metres, conducted by previous operators including Helix Resources and Lonmin.

GreenTech acknowledges the need to validate and upgrade this historical resource, citing certain QA/QC and data integrity issues typical of legacy datasets. To address this, the company plans to commence a drilling program imminently, targeting 20 twin holes to confirm historical results and enable a JORC (2012) compliant resource update by early 2026.

Geological and Metallurgical Advantages

The Munni Munni intrusion shares geological characteristics with world-class PGE systems such as South Africa's Bushveld Complex and Zimbabwe's Great Dyke. The Ferguson Reef is a laterally continuous, stratiform PGE horizon with a defined strike length of 13 kilometres, potentially extending to 21 kilometres. Historical drilling has demonstrated consistent high-grade intercepts of platinum, palladium, copper, and nickel, often near surface, which bodes well for both open-pit and underground mining scenarios.

Metallurgical testwork from previous operators indicates that the mineralisation responds well to conventional flotation and concentration methods, suggesting a straightforward processing pathway. This, combined with the project's location on granted mining leases within a tier-1 jurisdiction, enhances its development appeal.

Transaction Details and Strategic Outlook

The acquisition involves a combination of cash and share consideration, including $500,000 in cash and 47 million shares issued to the vendor, Alien Metals Limited. GreenTech will sole-fund exploration and development activities, with the vendor free-carried through to the completion of a Bankable Feasibility Study. Completion is contingent upon a $3 million capital raise, shareholder and regulatory approvals, and execution of supporting agreements.

Non-Executive Chairman Simon Kidston highlighted the strategic significance of the deal, emphasizing the project's high-grade nature and growth potential amid strengthening PGE market fundamentals. The consolidation with the nearby Whundo Copper Project offers potential synergies that could enhance project economics and accelerate development timelines.

Looking Ahead

GreenTech's immediate focus will be on validating the historical resource through drilling and advancing technical studies to underpin a resource upgrade. The company’s approach reflects a broader trend of renewed interest in PGEs driven by rising global demand and constrained supply. As GreenTech moves to unlock value from this advanced asset, the market will be watching closely for drilling results and progress on regulatory approvals.