Axiom Mining Limited
ARBN 119 698 770
Level 6, 15 Astor Terrace Spring Hill QLD 4000
Australia
T + 61 7 3319 4100
[email protected] www.axiom-mining.com
ASX Announcement
San Jorge Drilling Program
7 September 2016
Highlights
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Axiom has commenced a 2,500m drilling program on the San Jorge tenement.
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The drilling program results, in conjunction with the available historical INCO Ltd drilling data, will define the Mineral Resource.
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The Company awaits the decision from the Solomon Islands Government regarding the re-application for the prospecting licence over the Kolosori deposit on Santa Isabel Island.
Axiom Mining Limited ('Axiom or 'the Company') is pleased to announce the commencement of a drilling program on the Isabel Nickel Project on San Jorge Island under Prospecting Licence (PL 01/15). The San Jorge tenement area makes up approximately 50% of the known Isabel Nickel Project in the Solomon Islands.
The initial program includes approximately 2,500m over 200 holes. The drilling results in conjunction with the existing drilling and pitting data by nickel major INCO Ltd (Vale) will provide for the definition of a maiden JORC Mineral Resource.
Axiom CEO Ryan Mount said, "Axiom has conducted a number of internal studies indicating the robust economics of the San Jorge tenement. We expect results similar to our earlier drilling campaign on the Kolosori tenement. They (Kolosori and San Jorge) are similar as to geography, structure and historical definition - high grade mineralisation underneath the original sampling undertaken previously by INCO and Kaiser Engineering."
Axiom has an experienced management team in place, an offtake agreement has been executed, internal studies are complete and the Company has gained the support of the community to be able commercialise this project.
About Axiom Mining Limited
ENDS
Axiom Mining Limited focuses on tapping into the resource potential within the mineral-rich Pacific Rim. Through dedication to forging strong bonds and relationships with the local communities and governments where we operate, Axiom Mining has built a diversified portfolio of exploration tenements in the Asia Pacific region. This includes a majority interest in the Isabel Nickel Project in the Solomon Islands and highly prospective gold, silver and copper tenements in North Queensland, Australia. The Company is listed on the ASX. For more information on Axiom Mining, please visit www.axiom-mining.com
Disclaimer
Statements in this document that are forward-looking and involve numerous risk and uncertainties that could cause actual results to differ materially from expected results are based on the Company's current beliefs and assumptions regarding a large number of factors affecting its business, including litigation outcomes in the Solomon Islands Court of Appeal. There can be no assurance that (i) the Company has correctly measured or identified all of the factors affecting its business or their extent or likely impact; (ii) the publicl y available information with respect to these factors on which the Company's analysis is based is complete or accurate; (iii) the Company's analysis is correct; or (iv) the Company's strategy, which is based in part on this analysis, will be successful.