Solomon Islands

Principal projects

Isabel Nickel Project

The Isabel Nickel Project is widely considered one of the largest nickel laterite deposits in the Pacific and is made up of a number of deposits in Isabel Province of Solomon Islands with the key deposits being San Jorge and Kolosori.

Development activities on the San Jorge deposit are currently underway and the Company has submitted a mining lease application with the Solomon Islands Government which is pending formal consideration.

In May 2018, the Solomon Islands Government through the Ministry of Environment approved the Environmental Impact Statement (‘EIS’) and also granted Development Consent to Axiom KB Limited for its proposed mining operations on the San Jorge deposit.

The Development Consent allows Axiom to construct the mine and allows for mining to occur, subject to the grant of the mining lease by the Ministry of Mines.

Whilst Axiom awaits the granting of the mining lease, the Company has undertaken contingent forward planning in the lead up to this key decision.  Preparations for mobilisation to site of its key mining personnel and infrastructure are underway.

 

West Guadalcanal Project (copper-gold)

Located in the west of Guadalcanal Island. 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 10 km long carbonate base metal gold epithermal corridor.

Axiom obtained a Prospecting Licence for the project in January 2014, and subsequently renewed the prospecting licence in April 2017.  In 2014, 2050m of diamond drilling occurred, amongst 12 holes.

Following a recent technical review of the West Guadalcanal Project, Axiom has now commenced a work program to advance the West Guadalcanal project.  The work program is a combination of reconnaissance and detailed surface exploration activities to assess highly ranked prospects. This is mostly through trenching and geological mapping which has yielded encouraging results.  Axiom has identified a number of targets lying within a 10km long base metal and gold corridor. Following compilation of historical open-file data, a thorough review of Axiom’s previous exploration the Company has focused efforts on a prospect known as Humvee.

The Humvee mineralisation is hosted in hydrothermally altered tuffs, andesite porphyry and volcanic breccia. Completion of early stage field exploration comprising geological mapping and sampling revealed a 300 m by 700 m mineralised zone, coincident with the wide geophysical (magnetics) and radiometric (potassium) anomalies. This area is now the current focus of exploration for this tenement.

The company has established a camp and exploration operations which include a significant amount of civil works for the upgrade and maintenance of access roads to some logistically challenging locations in the mountains of Guadalcanal Island.

Axiom is conducting further exploration over other areas of the tenement with the objective of revealing the full extent of mineralisation, providing guidance for drill targets and exploring the extent of what Axiom believes to be a far larger mineralised system.


Updated May 2018

Disclaimer

Statements in this document that are forward-looking and involve numerous risks 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 publicly 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.