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AEX expands its gold holdings in Greenland

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AEX's exploration licence holdings in Greenland are in yellow. Image credit: AEX Gold.

(Kitco News) - AEX Gold (AIM: AEXG; TSXV: AEX) announced on Friday that it has been granted an increase to Mineral Exploration Licence 2020-36 “Anoritooq” by the Mineral Licence and Safety Authority of Greenland.

According to the company’s statement, the amended licence covers 1,889 km2 in South Greenland and is considered prospective for gold.

An increase to Mineral Exploration Licence “Anoritooq” (MEL 2020-36) has been granted for an additional 179 km2 covering an area north of Ippatit Valley.

The newly granted area is underexplored but with similar geology to AEX’s neighbouring Vagar licence. Several historic stream sediment and heavy mineral concentrate gold anomalies indicate the potential for further discoveries.

AEX’s licence holdings in South Greenland now total 3,870 km2.

CEO Eldur Olafsson commented, “I am very pleased to be able to announce this expansion of the Anoritooq licence. Early indications are that Anoritooq shows very similar geography to our Vagar licence, one of the most exciting exploration targets in our current portfolio with numerous high-grade discoveries, including an historic grab sample grading 2533 g/t gold. This region will be the focus of our exploration efforts next year.”

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