GreenLight Metals hits 34.25 m at 3.74% CuEq, raises C$11.5 million for expanded 2026 drilling
GreenLight Metals completed a 2,037 m, six-hole drill program at Wisconsin’s Bend Project in 2025, with intersections up to 34.25 m at 3.74% CuEq—including 22.24 m at 2.03% Cu and 3.02 g/t Au—and closed C$11.5 million in bought-deal financing. Company plans two rigs to drill up to 7,000 m toward a maiden resource estimate in 2026.
1. 2025 Milestones and Public Listing
In April 2025, GreenLight Metals completed its successful public listing on the TSX Venture Exchange, marking a pivotal transition from private exploration to a publicly traded company. Over the course of 2025, the Company executed its first drill program at the Bend Project in Wisconsin in more than ten years, secured a C$11.5 million bought deal financing in November, and added several institutional investors to its share register. These accomplishments strengthened the Company’s balance sheet, providing the capital foundation to support a significantly expanded exploration campaign in 2026 and positioning Bend as a prospective domestic source of critical copper, gold and tellurium for North American supply chains.
2. Phase 1 Drilling at Bend Delivers High‐Grade Results
GreenLight completed a six‐hole, 2,037‐metre program designed to test down‐plunge and eastern extensions of the historic 4.0 million tonne resource. Highlights include hole B25-003, which returned 12.85 metres averaging 3.74% copper equivalent, and hole B25-004, which intersected 34.25 metres averaging 3.74% CuEq—within which 22.24 metres graded 3.02 g/t gold and 2.03% copper (5.27% CuEq), including a localized interval of 7.41 g/t gold over 6.10 metres. Follow-up holes B25-005 and B25-006 extended mineralization 47 to 65 metres down plunge, delivering intervals up to 19.32 metres at 2.95% CuEq and 23.98 metres at 2.86% CuEq, respectively. Multiple over-limit assays exceeding 500 g/t tellurium were also reported, underscoring the project’s potential value as a source of this designated critical mineral.
3. Balance Sheet Strength and Institutional Support
The Company bolstered its financial position with the closing of a C$11.5 million bought deal in November 2025, led by high‐quality institutional investors. Proceeds are earmarked for accelerating the 2026 drill program, permitting and belt‐wide exploration activities. As of December 31, 2025, GreenLight held cash and short‐term investments sufficient to fund the mobilization of two rigs and associated infrastructure for the upcoming winter drill campaign at Bend, while maintaining a conservative capital structure to pursue strategic acquisitions across Wisconsin’s Penokean Volcanic Belt.
4. 2026 Exploration Strategy and Permit Outlook
In 2026, GreenLight plans to mobilize two drill rigs to deliver up to 7,000 metres of drilling under a Notice of Intent submitted to the Wisconsin Department of Natural Resources for the Soo Mineral Lease, targeting resource definition and down‐dip extensions of known mineralization. Concurrent borehole electromagnetic surveys will generate real‐time 3D models to optimize hole placement, while follow‐up testing of Bend North and Bend East EM anomalies is scheduled. The Company also anticipates securing a U.S. Forest Service prospecting permit to support maiden resource estimation, and will advance drill planning at its Lobo East VMS and Reef high‐grade gold projects as permitting milestones are achieved.