Greenlight Metals, Bend VMS drilling discovers high-grade copper gold... mineral deposit continuity draws attention

Green Light Metals ($GRLMF) Achieved meaningful analytical results in the second phase drilling of the Bend VMS deposit. The latest drill hole ‘B26-007’ confirmed copper grades of 1.05% and gold grades of 1.34 g/t over a 30.7-meter interval, with a total copper equivalent grade of 2.49%. Among them, a 14.9-meter interval with copper grade of 1.95% and gold grade of 1.58 g/t, with a copper equivalent grade as high as 3.65%.

These results not only confirm high-grade mineralization. According to the company, so far, all four drill holes drilled in the second phase project have visible ‘massive to semi-massive sulfides.’ This indicates that mineralization may be more continuous than expected. Notably, the mineralized body is extending at an inclination of approximately 45 to 50 degrees toward the deeper and eastern directions.

Bend VMS is a volcanogenic massive sulfide deposit, typically capable of producing multiple metals such as copper, gold, and zinc, and is considered a highly economically promising deposit type once exploration is successful. The results of B26-007 also demonstrate thickness and grade, further highlighting the project’s potential.

The second phase project is underway… awaiting more results.

Currently, the permitted second phase drilling project is in progress. The company is prioritizing 4,000 meters out of a total 7,000-meter project, with two drilling rigs on site. The analysis results for drill holes B26-008 to B26-010 have not yet been released; subsequent announcements may make the market’s assessment of the deposit’s extension and scale more specific.

Exploration investors focus on continuity. Relying solely on high grades in the initial few drill holes is not enough, but if multiple drill holes repeatedly show similar mineralization signs, the expectation of resource expansion may increase. Green Light Metals emphasizes in this announcement the ‘downward inclination’ and eastward extension of the mineralized zone, which should be viewed accordingly.

Simultaneous US market promotion project.

The company has also signed a marketing contract worth $100k with Resource Stock Digest to promote in the US market. Converted to Korean won, approximately 147.22 million KRW. This move is interpreted as an effort to enhance investor awareness amid successive exploration results.

The core of this announcement is that the Bend VMS deposit confirmed sections with both grade and thickness, and the possibility of further extension of the same mineralization system has increased. However, a comprehensive revaluation of the project’s value is expected to depend on subsequent drilling results and future resource estimation stages.

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