Axiom 2014 Annual Report - page 13

SOLOMON SEA
MINERALISED CORRIDOR
CORAL SEA
BISMARCK SEA
PACIFIC OCEAN
PAPUA NEW GUINEA
SOLOMON ISLANDS
CHOISEUL
NEW BRITIAN
PAPUA NEW
GUINEA
NEW GEORGIA
SANTA ISABEL
SAN JORGE
GUADALCANAL
SAN CRISTOBAL
MALAITA
BOUGAINVILLE
ISLAND
LATANGAI
ISLAND
PANGUNA COPPER MINE
Bougainville Copper Limited
ISABEL NICKEL DEPOSIT AXIOM
Ni, Co
LIHIR GOLD MINE
Newcrest Mining Limited
SIMBERI GOLD MINE
St Barbara Limited
WEST GUADALCANAL PROJECT AXIOM
Au, Ag, Cu
GOLD RIDGE GOLD MINE
St Barbara Limited
SANVIT GOLD MINE
New Guinea Gold Corporation
Honiara
In December 2010, Axiom formed a unique
partnership with the Kolosori and Bungusule tribes,
the customary landowners of the tenement areas
with the Isabel nickel deposit. The joint venture
company Axiom KB Limited was established, with
the landowners holding 20% and Axiom 80%.
Success in the Solomon Islands High Court in
September 2014 upheld Axiom’s Prospecting Licence
and 50-year registered lease over Kolosori land
on Santa Isabel Island. Since then, Axiom KB has
resumed exploration activities in order to progress
the project towards production as soon as possible.
Extensive historical work carried out by INCO and
Kaiser Engineers indicates a mineralised zone
estimate of 159mt averaging 1.045% Ni and 0.06%
Co over the two deposits, to a depth of less than
six metres.
Axiom’s early drilling results in late 2014 revealed
grades and depths of mineralisation that far exceed
that recorded by the previous explorers, including:
––
20.7m @1.74% Ni from surface
––
15.9m @ 1.94% Ni from 1.5m
Intersection
15.9m @ 1.94% Ni from 1.5m
including 8.4m @ 2.59% Ni from 7.5m
20.7m @ 1.74% Ni from surface
including 12.45m @ 2.28% Ni from 8.25m
6.1m @ 1.09% Ni from surface
5m @1.04% Ni from 1.2m
Table 1. Kolosori Ridge assay results
*Zone WGS84 UTN 57S
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2014 Annual Report
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