AEX Gold Inc (LON:AEXG) (CVE:AEX) has revealed results from its 2020 exploration campaign at the Kangerluluk property within the Nuna Nutaaq licence in Greenland.
The Kangerluluk gold prospect lies 120 kilometres northeast of AEX's Nalunaq project and within the wider Nanortalik gold belt.
The prospect is deemed highly prospective by AEX and during 2020 the company carried out reconnaissance exploration designed to confirm historic grades from the main shear zone, sampling potential down-dip extensions, and capturing high-resolution images to assist with 3D modelling and future exploration planning.
Historic channel sampling of the main shear zone has returned high-grade results, with highlights of 175.1 grams per tonne gold over 0.8 metres, and 35.4 grams gold over 0.95 metres.
One grab sample collected from the main shear zone in 2020 returned 22.3 grams gold.
A float sample of highly altered metavolcanic rock rich in malachite and pyrite was collected close to Kangerluluk fjord, approximately 100 metres east of the main shear zone and returned 3.83% copper and 34 grams silver.
Follow up structural mapping and sampling at Kangerluluk is planned for 2021.
"I am very pleased to announce this preliminary data on our Kangerluluk licence, our most northerly asset on the Nanortalik gold belt where we hold the vast majority of the acreage,” said Eldur Olafsson, chief executive of AEX in a statement.
“Yet again, the grades reiterate our belief that we are uncovering one of the most exciting gold provinces in the world. We will continue to carry out exploration activity this year on this licence and over the rest of our portfolio of licences."