Maiden JORC 2012 Mineral Resource at Ayshia Copper-Zinc Deposit Increases Whundo Contained Metal Content by 54%

GreenTech Metals Limited (ASX: GRE), (‘GreenTech’ or 'the Company') is pleased to announce its maiden JORC 2012 Inferred Mineral Resource Estimate for the Ayshia deposit, one of several copper-zinc prospects which comprise the Whundo Copper Project located south of Karratha industrial hub in the Pilbara, Western Australia.

• The Ayshia copper-zinc deposit resource has increased total resources for the Whundo Project by one-third from 2.7Mt to 3.6Mt and the total metal content by 54% to ~93,000 tonnes copper and zinc metal
• The combined Whundo – Ayshia JORC 2012 compliant Inferred + Indicated Mineral Resource Estimate (MRE) now sits at 3.6 Mt @ 1.2% Cu, 1.4% Zn
• Maiden JORC 2012 Inferred MRE at Ayshia of 0.92 Mt @ 1.3% Cu, 2.3% Zn, 0.1% Pb, 0.2g/t Au, 12g/t Ag, with a total 33,000 tonnes Cu-Zn metal
• Above resource estimates do not include results pending from the Q1 2022 drill program, comprising of 32 holes and 4,904 metres of drilling across Whundo and Ayshia
• The Ayshia deposit is zinc dominant near surface and becomes copper dominant at depth, and remains open at depth
• Significant historical Ayshia drill results reported by Fox Resources include:
  • 34.85m @ 1.1% Cu, 0.5% Zn and 0.2g/t Au from 169.65m (12AYDD102)
  • 23.7m @ 3.2% Cu, 0.4% Zn and 0.14g/t Au from 209m (12AYDD103)
  • 35.7m @1.66% Cu,0.76% Zn and 0.12g/t Au from 206.5m (12AYDD108) o 36.6m @ 0.62% Cu, 14.2% Zn and 0.88g/t Au from 46.7m (AYDD076); and including 5.5m @ 0.43% Cu, 26.8% Zn and 1.14g/t Au from 75.6m
• The Company expects the Whundo – Ayshia Copper resource to increase further as a result of the 2022 drilling campaign

Greentech’s Executive Director Thomas Reddicliffe commented:

"GreenTech Metals is pleased to announce another significant copper and zinc resource at Ayshia based on historical drilling which is being confirmed by the recently completed drilling campaign. This resource which plunges from surface increases the combined copper and zinc metal content at the Whundo Project by 54% to over 93,000 tonnes.

“We expect further increases to the combined resource at Whundo after we receive and assess assay results from our recent RC drilling program. In addition, we have multiple other prospects including the Yannery copper project next to Whundo, which are yet to be investigated”.

Combined Whundo Project Resources

The combined Whundo and Ayshia resources are shown in Table 1 below.

Table 1: Combined Whundo and Ayshia JORC 2012 Mineral Resource Estimate

The Ayshia deposit is estimated to contain an Inferred Mineral Resource (JORC 2012) of 0.92 Mt @ 1.3% Cu, 2.3% Zn, 0.1% Pb, 0.2 g/t Au, 12g/t Ag, (using a 0.5% CuEq lower cut-off).

This resource is based on historic drill results reported by Fox Resources Ltd in 2018 and which are of sufficient quality and QA/QC standard to have enabled a reclassification of the resource to be compliant with JORC 2012. The updated Mineral Resource Estimate (Table 2) was prepared by Independent Resource Consultant Phil Jones. Additional drilling including twin holes is required to enable this resource to be upgraded to an ‘Indicated Resource’ JORC 2012 status.

The Mineral Resource Estimate for Whundo is in the ‘Indicated Resource’ category of JORC 2012, details of which are in CSA Global’s Independent Technical Report contained within the Company’s Prospectus.

Overview of Whundo/Ayshia Deposit

The Whundo Copper Project is approximately 40 km south-southwest of Karratha in the West Pilbara region of Western Australia, covering an area of approximately 9 km² within the West Pilbara Mineral Field. The project comprises a number of known stratigraphically related copper-zinc VMS style deposits and prospects over a strike length of 1500m within a prospective zone of 4km within the project tenement. The Ayshia deposit is located 1,500m to the northeast of the Whundo Mine. Access to the project area is via the sealed road to Tom Price heading south from Karratha then onto a mine road into the historical mine site (Figure 1).

First class infrastructure including, roads, electricity, water and processing plant exist within the vicinity of the Whundo project.

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