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AEX Gold expands exploration licence at Anoritooq project, Greenland


AEX Gold Inc (LON:AEXG) (CVE:AEX) said it has increased the size of the exploration licence at its Anoritooq project to 1,889 square kilometres (sq km), bringing its total ground in south Greenland now to 3,870 sq km.

The newly granted area is underexplored and prospective for gold, with several historic stream sediment and heavy mineral concentrate gold anomalies indicating discovery potential.

READ: AEX Gold says it has been granted a new Mineral Exploration Licence in South Greenland by the Mineral Licence and Safety Authority

“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,” said CEO of AEX Eldur Olafsson in a statement.

The London and Toronto-listed company has a portfolio of gold licences in Greenland, with its flagship the Nalunaq property.

AEX Gold also said in Friday’s statement the terms of reference for Nalunaq’s environmental impact assessment (EIA) and social impact assessment (SIA) have been translated and approved for upload to the government’s hearing portal and the public pre-consultation period of 35 days has commenced.

“With regard to the pre-consultation period, we are pleased to have reached this important milestone as we look to bring Nalunaq into production. We look forward to working with the local communities and receiving their comments in due course,” added Olafsson.

The latest expansion news comes after the company last week revealed it had been granted a new mineral exploration licence in South Greenland by the mineral licence and safety authority (MLSA).

The Kangerluarsuk (MEL 2021-02) licence covers 335 sq km in South Greenland and is considered highly prospective for multiple commodities including gold, copper, zinc and molybdenum.

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