Mining News

Rich Gold Deposit in Greenland

The Canadian mining company AEX Gold has proved successful with its gold extraction license in the Vagar area in Greenland, acording to Sermitsiaq.

Recent investigations prove that there are high-quality minerals int he area and that there is a high potential for location of further gold deposits. Company CEO Eldur Olafsson says to the paper that there prove to be more gold deposits in the area than previously expected, and the gold is not only found in connection with quartz, but also in the bedrock itself.

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It is well known from before that gold deposits in southern Greenland hold high levels of purity, and the estimated deposit in the Vagar area amounts to some 8.5 tons of gold.

AEAX Gold has two further exploration licenses for an area covering a total of 266 square kilometers in the Nanortalik gold belt area.


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