Drills 52.4g/t Gold Over 0.55m In Valley Block
Greenland specialist AEX Gold Inc. (AIM: AEXG; TSXV: AEX) has drilled an intersection of 52.4 g/t over 0.55m in its Valley Block infill drilling programme at its Nalunaq property.
CEO, Eldur Olafsson, said the latest drilling results, which included encountering visible gold in one hole, support the interpretation that Valley Block is a high-grade domain with a similar footprint to South Block.
“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,” Mr Olafsson said.
“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 mineralised 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.”
The objective of drilling programme included:
- To further develop the vompany’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 (“MV”) through extensive drilling between 2017-2020 and returned high-grade intersections
- The 2020 infill drilling programme was designed to understand the thickness and continuity of the Main Vein in the Valley Block.
Drilling in 2020 was designed to improve confidence in the Valley Block ahead of planned exploration underground development in this area in late 2021/early 2022.
This zone lies approximately 100 meters to the south of the South Block and has now been drilled to 30m or closer drill spacing over an area of approximately 200m by 250m. The Valley Block remains open along strike to the south west and is open at depth and up-dip.
