AEX Gold looking to build full-cycle gold company in South Greenland
- AEX Gold appoints James Gilbertson to head exploration team
- AEX Gold could have upwards of two million ounces of gold under its belt in Greenland, as it pushes towards first production next year
- AEX Gold present strategic update to shareholders and full year financial results
Quick facts: AEX Gold Inc
Price: 26.5 GBX
Market Cap: £46.93 m
About the company
AEX Gold Inc is focused on 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 3,870km2, 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.
How it is doing
The gold company, which has a portfolio of exploration licences in Greenland, said James Gilbertson has been appointed as Vice President - Exploration. Gilbertson, who has been working with AEX as a consultant for six years, will oversee all of the company's exploration activities.
He has over 20 years of experience in mineral exploration and resource development, including 17 years as a principal exploration geologist, and until recently, as managing director of SRK Exploration. He specialises in mineral exploration design, planning and management, specifically for lode and epithermal gold deposits, porphyry related, and orthomagmatic deposits. Gilbertson is a chartered and competent person (CP) with the Geological Society London.
"I am delighted to announce the addition of James to our senior management team. He brings an important skill-set to the company at an exciting time in our development,” commented AEX CEO Eldur Olafsson.
Warwick Morley-Jepson has worked in the industry for 40 years, said AEX, with senior management stints at Ivanhoe Mines and Kinross and is currently chairman of Wedsome Gold Mines and a non-exec at Karora Minerals.
AEX Gold Inc. (LON:AEXG, TSXV: AEX) said it applied for a new exploration licence in the Kobberminebugt region of South Greenland covering an area of approximately 266 km2.
The area hosts numerous copper-gold showings including the small past-producing Josva copper mine, which was last worked in 1914 with reported grades up to 5% copper, 1.5 grammes a tonne (g/t) gold and 250 g/t silver.
Insight: AEX Gold could have upwards of two million ounces of gold under its belt in...
There could be as much as two million ounces of gold in the ground at the old Nalunaq mine in Greenland, according to Eldur Olafsson, the man tasked with getting operations there back up and running.
What management says
Ólafsson reminds us of the reasons for the strategic review and what the company has been doing over the last couple of months to reach today’s news including conclusions reached on the Ausenco drawn on the Nalunaq property and what it needs to progress.
He goes through the details of the third party feasibility study as well as some significant drilling work in their statement.
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