Axiom 2014 Annual Report - page 14

Additionally, the Isabel nickel deposit shows high
mine-ability, which means a quick transition from
ground to market. The main area of nickel-cobalt
mineralisation occurs from the surface and is
free from human habitation, and as such mining
development will have minimal social impacts.
The deposit is also located close to the shore
line, allowing easy seaborne access to regional
processing hubs.
Sumitomo has filed a notice of appeal against the
High Court ruling despite the judge dismissing all
their claims and declaring “the proceedings have
been shown to be an abuse of the court’s process”.
A hearing is expected in mid 2015 but this has not
deterred potential partners. In December 2014, Axiom
announced a AU$5 million strategic partnership with
Anitua Limited for the Isabel Nickel Project.
Plans for 2015
Axiom will take a phased approach to mine
development. The initial focus will be on establishing
a 2mtpa direct shipping of ore operation on Santa
Isabel Island by late 2015 for a relatively low capital
expenditure.
The cashflow generated from the early stages will
provide Axiom with the capital needed to consider
the next phase of development to value add through
the on-site processing of the ore.
In 2015, Axiom will also apply for a Prospecting
Licence for the San Jorge nickel deposit on Bungusule
land and Mining Leases for both tenements.
West Guadalcanal Project, Guadalcanal Island
The West Guadalcanal Project is wholly owned by
Axiom Mining and comprises an area of about 485km²
located in the west of Guadalcanal Island.
Axiom relinquished both Arosi and Itina gold projects
in early 2014 in favour of the West Guadalcanal
Project having higher prospectivity. The tenement is
adjacent to known Au-Ag deposits, including the Gold
Ridge Mine and boasts potential for epithermal Au
and porphyry Cu-Au style deposits.
The exploration targets of Taho, Polo and Mt Tanjili
lie within a 10km long carbonate basemetal gold
epithermal corridor.
Since gaining a Prospecting Licence for the project in
January 2014, Axiom has undertaken exploration that
indicates the potential for higher grade zones.
In late 2014, Axiom commenced a 2500 initial drill
program at Taho. Mineral assemblages indicate
the deposit is part of a carbonate base metal low
sulphidation epithermal system—these gold minerals
include rhodochrosite, ankerite, siderite, pyrite,
galena, sphalerite and various silver-based sulphides
(similar to Porgera, PNG).
The initial drilling has assisted in building the three
dimensional geological model and interpreting the
orientation of the mineralised structures. A total
of 1529m was drilled by the end of 2014, with nine
holes completed.
References
1 Neall. V.E., Trewick.S.A. 2008. The age and origin of the Pacific
islands: a geological overview, Philosophical Transactions of the
Royal Society of Biological Sciences.
Solomon Islands Projects – continued
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Axiom Mining Limited
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