GreenLight Metals Intersects 1.20% Copper and 1.33 g/t Gold over 30.62 Metres at the Bend Project
GreenLight confirms copper-gold continuity at Bend step-out, with the stock near lows as investors await potential scale-up.
GreenLight Metals Inc. (GRL) has released assay results for hole B26-016 at its Bend copper-gold VMS project in Taylor County, Wisconsin. The company estimates the true thickness of the mineralized zone to be approximately 70–75% of the drilled length.
The main interval for B26-016 returned 30.62 m from 468.12 m to 498.74 m downhole, averaging 1.20% Cu, 1.33 g/t Au, 16.77 g/t Ag, and 2.67% CuEq. This interval includes higher-grade sub-intervals:
- 6.51 m from 468.12 m at 2.15% Cu, 1.71 g/t Au, 32.83 g/t Ag, and 4.11% CuEq.
- 11.20 m from 487.54 m at 1.28% Cu, 1.56 g/t Au, 17.78 g/t Ag, and 3.00% CuEq.
The release notes that these inclusions are contained within the main interval and are not additional metres. A cutoff grade for the reported interval was not stated.
Hole B26-016 is located approximately 55 m down-dip of B26-015, which previously returned 25.17 m at 1.30% Cu and 1.30 g/t Au. Assays for B26-017 remain pending, and no other new assayed holes were reported in this release.
Additionally, GreenLight Metals announced the termination of its market-making agreement with ICP Securities and the engagement of DS Market Solutions at a cost of C$5,000 per month.
GreenLight Metals Inc. (GRL) is a pre-resource explorer where continuity and scale are typically priced in ahead of confidence, meaning a successful step-out can hold significance even without an established resource. The latest drill hole, B26-016, adds approximately 55 meters of down-dip continuity and returns essentially the same grade as the previous hole, B26-015.
At a market capitalization of roughly C$19 million, the 22-meter true-width, 2.67% CuEq step-out is relevant to the asset story. It supports the eastern zone and provides another pierce point for the resource model. However, the result does not establish a maiden resource, a new zone, or a new depth dimension. The stock closed at C$0.19 on November 9, 2026, compared to a 52-week high of C$0.53 and a low of C$0.17. The prior B26-015 release on October 22, 2026, did not significantly move the stock; shares were around C$0.20 at that time and are C$0.19 now.
The result is in line with, but not materially better than, the recent anchor and remains below the best Phase 1 hole. Consequently, the market is not paying for a repetition of the last result, which is supportive of a constructive read, though the result itself does not exceed previous benchmarks.
GreenLight Metals Inc. (TSXV: GRL, OTCQB: GRLMF) is a junior explorer focused on the Penokean Volcanic Belt in Wisconsin and the Walker Lane in Nevada. The company’s flagship asset is the Bend copper-gold VMS project in Taylor County, Wisconsin. GreenLight controls the leased 40-acre Soo Line mineral parcel and has a pending prospecting permit application over approximately 519 acres of adjacent federal mineral estate. The Bend project is listed as a FAST-41 Transparency Project.
Other Wisconsin assets include the Reef high-grade gold project, as well as the Lobo and Lobo East massive sulfide targets. In Nevada, the company holds the Kalium Canyon epithermal gold project in the Walker Lane, which is subject to a staged earn-in and joint venture with Barrick. Barrick can earn up to an 80% interest through staged work commitments and a pre-feasibility study.
GreenLight Metals has no revenue. For the first half of 2026, the company reported a net loss of C$3.8 million, with cash holdings of C$6.4 million as of June 30, 2026. Management disclosed a material going-concern uncertainty. Shares outstanding were approximately 99.7 million as of the second quarter of 2026.
A historical estimate from 1992 for the Bend project indicated approximately 4.0 million tonnes at 1.74% copper, 2.44 g/t gold, and 11.56 g/t silver. This estimate is not a current mineral resource.