AEX Gold Update on Valley Block at Nalunaq in South Greenland
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AEX Gold Update on Valley Block at Nalunaq in South Greenland

AEX Gold Inc, an independent gold company with a portfolio of gold licences in Greenland, announced an update to its 2020 exploration drilling campaign at its

AEX Gold Inc, an independent gold company with a portfolio of gold licences in Greenland, announced an update to its 2020 exploration drilling campaign at its Nalunaq property in South Greenland. The results are complementary to the drilling results reported in a previous press release on October 21, 2020.AEX CEO Eldur Olafsson said "We are very encouraged at the prospective nature of the Valley Block following the delivery of further interesting drilling results from this year's drilling campaign. With previous drilling suggesting that the Valley Block has a similar footprint to other historically mined blocks at Nalunaq as evidenced by the thickness and continuity of the vein, we believe that there is significant potential in the area given the mineralized structure is open at depth and along strike. We are confident that with the implementation of an underground development program in the area next year, supported by a surface drilling program, will enable the Corporation to enlarge the Valley Block area in 2021."

Objective of drilling program

To further develop the Company's understanding of the area to the south west of the deposit that is thought to be a parallel structure now known as "Valley Block".

This area has previously demonstrated good continuity of the Main Vein through extensive drilling between 2017-2020 and returned high-grade intersections.

The 2020 infill drilling program was designed to understand the thickness and continuity of the Main Vein in the Valley Block.

Drilling result highlights

Further results from the Valley Block infill drilling programme include 52.4 g/t over 0.55 meters (AEX2008) and 5.9 g/t over 0.5 meters (AEX2009).

Visible Gold observed in AEX2009.

These results support the interpretation that Valley Block is a high-grade domain with a similar footprint to South Block.

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