AEX Gold Inc Increase to Anoritooq Mineral Exploration Licence (0810J)
December 18 2020 - 01:00AM
UK Regulatory
TIDMAEXG
RNS Number : 0810J
AEX Gold Inc
18 December 2020
("AEX" or the "Corporation")
AEX Granted Increase to Anoritooq Mineral Exploration
Licence
TORONTO, ONTARIO - December 18, 2020 - AEX Gold Inc. (AIM: AEXG;
TSXV: AEX), an independent gold company with a portfolio of gold
licences in Greenland, announces that it has been granted an
increase to Mineral Exploration Licence 2020-36 "Anoritooq" by the
Mineral Licence and Safety Authority ("MLSA"). The amended licence
covers 1,889 km(2) in South Greenland and is considered prospective
for gold, with similarities to AEX's Vagar licence.
References to figures and tables relate to the version visible
in PDF format on the website by clicking the link below:
https://www.aexgold.com/investors/regulatory-news-alerts/#tsx-news
Highlights
-- An increase to Mineral Exploration Licence "Anoritooq" (MEL
2020-36) has been granted for an additional 179 km(2) covering an
area north of Ippatit Valley (Figure 1)
-- 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 km(2)
-- The new area is included in a regional prospectivity
assessment being conducted by GoldSpot Discoveries Corp.
-- The Company is also pleased to announce that 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. Details can be
found here https://naalakkersuisut.gl/en/Hearings/Current-Hearings
.
Eldur Olafsson, CEO of AEX, 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.
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 . "
Figure 1 Geological map of South Greenland. The newly granted
sub-area of MEL 2020-36 is shown with hatched markings, with AEX's
existing exploration licence holdings in yellow and the Nalunaq
exploitation licence in red.
AEX continues to plan exploration programmes for 2021 on all its
exploration licences and the Corporation is looking forward to
providing further updates.
Qualified Person Statement
The technical information presented in this press release has
been approved by James Gilbertson CGeol, who is a full-time
employee and Managing Director of SRK Exploration Services Limited
and a Chartered Geologist with the Geological Society of London,
and as such a Qualified Person as defined by NI 43-101.
Enquiries:
AEX Gold Inc.
Eldur Olafsson, Director and CEO +354 665 2003
eo@aexgold.com
Eddie Wyvill, Investor Relations +44 7713 126727
ew@aexgold.com
Stifel Nicolaus Europe Limited (Nominated +44 (0) 20 7710
Adviser and Broker) 7600
Callum Stewart
Simon Mensley
Ashton Clanfield
+44 (0) 20 3757
Camarco (Financial PR) 4980
Gordon Poole
Nick Hennis
Emily Hall
Further Information:
About AEX
AEX's principal business objectives are the identification,
acquisition, exploration and development of gold properties in
Greenland. The Corporation's principal asset is a 100% interest in
the Nalunaq Project, an advanced exploration stage property with an
exploitation license including the previously operating Nalunaq
gold mine. The Corporation has a portfolio of gold assets covering
3,870 km(2) , the largest portfolio of gold assets in Southern
Greenland covering the two known gold belts in the region. AEX is
incorporated under the Canada Business Corporations Act and wholly
owns Nalunaq A/S, incorporated under the Greenland Public Companies
Act.
Forward-Looking Information
This press release contains forward-looking information within
the meaning of applicable securities legislation, which reflects
the Corporation's current expectations regarding future events and
the future growth of the Corporation's business. In this press
release there is forward-looking information based on a number of
assumptions and subject to a number of risks and uncertainties,
many of which are beyond the Corporation's control, that could
cause actual results and events to differ materially from those
that are disclosed in or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to the factors discussed under "Risk Factors" in the Final
Prospectus available under the Corporation's profile on SEDAR at
www.sedar.com. Any forward-looking information included in this
press release is based only on information currently available to
the Corporation and speaks only as of the date on which it is made.
Except as required by applicable securities laws, the Corporation
assumes no obligation to update or revise any forward-looking
information to reflect new circumstances or events. No securities
regulatory authority has either approved or disapproved of the
contents of this press release. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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