West Pilbara, Western Australia — December 17, 2025 — GreenTech Metals Limited (ASX: GRE) has commenced drilling at its Munni Munni Platinum–Palladium–Copper–Nickel (PGE) Project in Western Australia’s West Pilbara region, marking a significant milestone in the company’s strategy to advance one of Australia’s most historically significant but underdeveloped platinum group metals assets.
The start of drilling follows months of planning, technical review, and site preparation and represents the first phase of a broader effort by GreenTech to convert historical exploration results into a modern, JORC (2012)–compliant mineral resource. The company confirmed that the Phase 1 drilling program will consist of up to 20 drill holes for a total of approximately 6,000 meters, targeting both resource verification and potential extensions to known mineralisation.
Reviving a Historically Significant PGE Project
The Munni Munni project is widely recognized within the Australian mining industry as one of the country’s most prospective platinum group element systems. Previous exploration conducted between 1985 and 2002 outlined a substantial historical, non-JORC-compliant resource estimated at 24 million tonnes grading 2.9 grams per tonne 4E (platinum, palladium, gold, and rhodium), containing approximately 2.2 million ounces of combined precious metals.
Despite these encouraging historical results, Munni Munni has never progressed to full-scale development, largely due to changing commodity prices, ownership transitions, and the absence of modern resource classification standards at the time of earlier work. GreenTech’s current drilling campaign is designed to address these limitations by validating historical data and applying contemporary geological, analytical, and reporting techniques.
“Commencing drilling at Munni Munni is a pivotal step for the company,” said Simon Kidston, GreenTech’s Non-Executive Chairman, in a statement accompanying the announcement. “This program is designed to transition Munni Munni into a modern, JORC-compliant resource and position the company for the next phase of technical and commercial evaluation.”
Scope and Objectives of the Phase 1 Drilling Program
The Phase 1 drilling program has been structured with two primary objectives: verification of historical drilling data and assessment of potential extensions to known mineralized zones. By re-drilling selected historical holes and comparing results with archived data, GreenTech aims to establish confidence in the continuity, grade distribution, and geometry of the mineralization.
Drilling will focus predominantly on the Ferguson Reef, a layered mafic-ultramafic intrusion that hosts the bulk of the known PGE mineralization at Munni Munni. The reef has been the subject of extensive historical drilling and metallurgical testing, identifying several higher-grade zones that are now being prioritized for confirmation and potential expansion.
In addition to validating historical intersections, GreenTech plans to test along-strike extensions of the Ferguson Reef where limited drilling has previously occurred. These areas are considered highly prospective based on geological mapping and geophysical data, offering potential upside beyond the boundaries of the historical resource.
Modern Techniques Applied to Legacy Data
A key differentiator of the current drilling campaign is the application of modern exploration and analytical techniques to a dataset that, while extensive, was generated decades ago. Core samples recovered during the program will undergo detailed geological logging, structural analysis, and geochemical characterization to improve understanding of the deposit’s controls and variability.
Representative composite samples will also be prepared for metallurgical testing, aimed at assessing recovery characteristics under current processing technologies. These results will be critical in determining the project’s economic potential, particularly given evolving demand dynamics for platinum group metals in automotive catalysts, hydrogen technologies, and other clean energy applications.
GreenTech has noted that the preservation of historical materials at the project site provides a valuable advantage. During recent site visits, the company inspected the historical core storage yard and reported that much of the legacy core and laboratory sample pulps remain well preserved.
“The availability of historical core and pulps allows us to directly compare past and present results, significantly enhancing the efficiency and reliability of the resource verification process,” the company said.
Logistics and Timeline
To support operations in the rugged terrain of the West Pilbara, GreenTech has mobilized a track-mounted drill rig specifically selected for its ability to operate efficiently under challenging site conditions. The company indicated that all necessary permits and environmental clearances are in place, enabling drilling to proceed without delay.
The Phase 1 drilling program is expected to be completed by February 2026, subject to weather and operational conditions. Assay results are anticipated approximately four to six weeks after completion, with results to be released progressively as they are received and validated.
Upon completion of drilling and data analysis, GreenTech plans to commence preparation of a JORC (2012)–compliant mineral resource estimate, targeting delivery in early 2026. This estimate will form the foundation for subsequent technical studies, including scoping and potentially prefeasibility evaluations.
Strategic Importance of Munni Munni
The Munni Munni project occupies a strategic position within GreenTech’s broader portfolio, providing exposure to platinum group metals as well as copper and nickel—commodities increasingly critical to electrification, decarbonization, and industrial growth.
PGEs play a vital role in emissions control technologies, fuel cells, and emerging hydrogen applications, while nickel and copper remain essential for batteries, renewable energy infrastructure, and electric vehicles. As global supply chains for these metals face increasing scrutiny and geopolitical risk, assets located in stable jurisdictions such as Western Australia are attracting heightened interest from investors and industry participants.
GreenTech’s management has emphasized that advancing Munni Munni aligns with the company’s strategy of developing high-quality, long-life assets capable of supporting responsible and sustainable production.
Joint Venture Structure and Ownership
The Munni Munni project is subject to a conditional joint venture agreement between GreenTech and Alien Metals Limited (AIM: UFO). Under the terms of the agreement, Alien Metals will retain a 30% interest in the project, free-carried through to the completion of a bankable feasibility study.
This structure allows GreenTech to maintain operational control and strategic direction while benefiting from a reduced financial burden during the early stages of project evaluation. The joint venture arrangement also reflects confidence from both parties in the long-term potential of the asset.
Market Response and Investor Interest
News of the drilling commencement was met with positive market reaction, with GreenTech shares trading higher following the announcement. Investors appear encouraged by the company’s progress toward unlocking value from a project that has long been regarded as one of Australia’s most promising undeveloped PGE systems.
Analysts have noted that successful conversion of the historical resource into a JORC-compliant estimate could significantly enhance the project’s attractiveness, particularly if drilling confirms grade continuity and expansion potential.
While early-stage exploration always carries inherent risk, the presence of extensive historical data, preserved core, and established mineralization provides a strong foundation for the current program.
Looking Ahead
As drilling progresses over the coming months, GreenTech is expected to provide regular updates on operational progress and assay results. The company has indicated that it will maintain a disciplined and data-driven approach, prioritizing technical rigor and transparency as it advances the project.
For GreenTech, the commencement of drilling at Munni Munni represents more than a routine exploration milestone. It signals the revival of a historically significant asset through modern methods, with the potential to deliver meaningful value to shareholders and contribute to Australia’s future supply of critical minerals.
Should the Phase 1 program meet expectations, Munni Munni could quickly move into the next stage of evaluation, positioning GreenTech as a notable emerging player in the platinum group metals space. As global demand for PGEs, copper, and nickel continues to evolve, the outcomes of this drilling campaign will be closely watched by the market and the broader mining industry.