AEX Gold Inc (AIM:AEXG, TSX-V:AEX) reported positive results from geophysical surveys conducted across its Tartoq gold exploration licences in Southern Greenland.
The surveys identified a number of key potential Orogenic gold hosting sites and greatly increased the geological understanding of the licence, allowing AEX Gold to refine its priority targets for follow-up exploration work next year.
AEX said it believes that the licence holds the potential to host a multi-million-ounce Orogenic gold deposit.
"I am pleased to report on the further development of one of our key gold exploration targets within our over 4000km2 licence portfolio within Southern Greenland,” said chief executive Eldur Olafsson. “Tartoq is a highly prospective Archean terrain and has always been one of our primary exploration targets since we acquired the licence.”
“This geophysical survey and associated interpretation (the first of three completed by AEX in 2021), which has been run by our geological team with the assistance of Goldspot (TSX-V:SPOT), continues to increase our understanding of the geology and the controls to mineralisation, critical to refining our targets and concentrating our efforts towards further gold discoveries.”
"These results have increased our confidence and narrowed our targeting,” he added.