AEX Gold Inc. is a Greenland-focused exploration company engaged in the identification, acquisition, exploration and development of gold properties in Greenland.
The company is working to advance its 100%-owned Nalunaq gold mine in the Nanortalik Gold Belt, Southern Greenland. The Nalunaq gold mine has historically produced >350,000 oz Au at an average grade of 15 g/t between 2004 and 2009. Nalunaq hosts high-grade NI 43-101 compliant resources (263 koz Au in 446,900 t @ 18.7 g/t) with regional exploration targets.
Through its wholly owned Greenlandic subsidiary, Nalunaq A/S, AEX has interests in an Exploitation License at the advanced exploration stage Nalunaq property including the previously operating Nalunaq Gold Mine and an Exploration License at the early exploration stage Tartoq property.
AEX’s main focus is its Nalunaq property which hosts a high-grade NI 43-101 compliant gold resource estimate of 263 koz (inferred) in 446,900 t at 18.7 g/t and a number of regional exploration targets. Work over the last 3 years has resulted in an updated geological model and an extension of the main vein strike length up to 1km. The focused exploration area has a larger footprint than the existing mine workings. Previous owners invested heavily in infrastructure which includes a pier, 9km access road with bridge river crossings, the foundations for the Mine camp and Mine workshops, processing plant and Mine infrastructure. Environmental studies have been well maintained since 2014 when the Mine closure program was concluded.
AEX’s goal is to explore and develop in order to expand the existing resources at Nalunaq mine whilst simultaneously exploring other known gold occurrences in South Greenland. Some of these are close to Nalunaq and may be similar in mineralization style. It is envisaged that some of these properties will form a ‘pipeline’ of projects at different levels of development that will deliver the company a sustainable supply of resources for exploitation.
Greenland is a favorable operating jurisdiction, with a mining-friendly legal framework and there is good infrastructure in South Greenland where our projects are located including ice free fjords, an international airport and hydro-generated electricity.
Our focus is to be efficient, cost competitive and explore this highly under explored region in order to progress it to commercial production. We will be sustainable in our work by taking good care of the environment and involving local communities in our efforts.