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Axiom Mining extends existing Isabel Project nickel intersections

Last updated: 10:51 23 Jan 2015 GMT, First published: 11:51 23 Jan 2015 GMT

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Axiom Mining (ASX:AVQ) has extended previously reported high grade nickel laterite intersections at the Isabel Project in the Solomon Islands after including previously quarantined, near-surface samples.

In addition, initial drilling at the West Guadalcanal Project has assisted in building the three dimensional geological model and interpreting the orientations of the mineralised structures.

Top results from Isabel are now:

- 20.7 metres at 1.74% nickel from surface including 12.45 metres at 2.28% nickel from 8.25 metres(ISD14-003); and
- 15.9 metres at 1.94% nickel from 1.5 metres including 8.4 metres at 2.59% nickel from 7.5 metres (ISD14-004).

This compares to previous results of 18.2 metres at 1.88% nickel including 12.45 metres at 2.28% nickel; and 13.4 metres at 2.01% nickel including 8.4 metres at 2.59% nickel.


Current and upcoming work


The company has this month commenced the initial orientation drilling program and is continuing to test the full depth of the laterite profile around the Kolosori Ridge test pit area.

It is also planning to undertake diamond drilling on the Havihua Ridge area, located 2 kilometres east of Kolosori Ridge, to test the laterite profile in an alternative geological setting.

At West Guadalcanal, Axiom is preparing to commence drilling at the Polo prospect area as it assesses the further potential at Taho and expands into new target areas.


West Guadalcanal Project


In its December quarterly report, the company reported that it had drilled eight holes totalling 1,373.2 metres at the Taho prospect area.

Mineral assemblages indicate the deposit is part of a carbonate base metal low sulphidation epithermal system—these minerals include rhodochrosite, ankerite, siderite, pyrite, galena, and various silver-based sulphides (similar to Porgera in Papua New Guinea).

The initial drilling has assisted in building the three dimensional geological model and interpreting the orientations of the mineralised structures.

Drilling results are:

- 8.43 metres at 0.54 grams per tonne gold and 2.8 metres at 11.58g/t silver from 21.6 metres including 1 metre at 1.17g/t gold and 17.4g/t silver and 1 metre at 0.99g/t gold and 25.80g/t silver;
- 2.3 metres at 0.73g/t gold from 28.7 metres including 0.5 metres at 1.48g/t gold and 1.7g/t silver;
- 4.35 metres at 0.91g/t gold and 7.22g/t silver from 7.5 metres including 1.85 metres at 1.52g/t gold and 2.85 metres at 9.70 g/t silver; 
- 7.97 metres at 0.54g/t gold and 6.49g/t silver from 5.13 metres including 1 metre at 1.29g/t gold and 13.4g/t silver from 8 metres; and
- 10.09 metres at 50.37g/t silver from 125.45 metres including 1.35 metres at 339.7g/t silver.

Further trenching at the Taho prospect area have also returned encouraging results, upgrading and extending the 1.5 kilometre-long gold mineralised zone at surface.

Highlights from the trenching results include:

- 24 metres at 0.41g/t gold open including 2 metres at 1.04g/t gold, 3 metres at 15.1g/t silver and 4 metres at 17.63g/t silver;
- 21 metres at 2.96g/t gold open including 4 metres at 13.59g/t silver;
- 20 metres at 0.42g/t gold and including 2 metres at 1.07g/t gold and 41.65g/t silver; and
- 3 metres at 1.25g/t including 1 metre at 3.04g/t gold.


Isabel Nickel Project


The project is 80% owned by Axiom KB, where KB or Kolosori and Bungusule are the two original customary landowning tribes, who collectively own the remaining 20% interest.

The Kolosori tenement covers 49 square kilometres on Isabel Island and is covered by Axiom’s leasehold and prospecting licence.

It has historic and non-JORC resources estimated at 159 million tonnes at 1.045% nickel and 0.07% cobalt.

Low cost open pit mining can very quickly generate a direct shipping ore that significantly reduces both operating cash cost and capital cost for plant, power requirements and infrastructure.



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