Page 18 - Axiom Mining Limited 2012 Annual Report

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Axiom Mining Limited
The Solomon Islands archipelago
represents a double chain of islands
that span 1,300km in a western area of
the Pacific Ocean. Both chains follow a
north-west/south-east alignment and
in total, comprise nearly 1,000 islands.
Within the group, lies the nation of the
Solomon Islands, as well as the islands
of Bougainville and Lihir, which actually
fall under Papua New Guinea jurisdiction.
The Solomon Islands archipelago forms part of an arc
that represents a line of very specific volcanic rocks
known as the ‘Andesite Line.’ This circumscribes
the Pacific Ocean in a clockwise direction, from
New Zealand to Chile
, and is commonly known as
the Pacific Rim of Fire. This area is considered fertile
ground for large tonnage gold and copper deposits –
for example Gold Ridge, Lihir and Bouganville.
The location of the Solomon Islands archipelago, being
bounded by these major tectonic plate boundaries,
has not only resulted in the presence of favourable
geological structures, but also rock types which
are conducive to hosting large tonnage gold-copper
massive sulphide systems and nickel-cobalt deposits.
Axiom Mining has three major projects located within
the Solomon Islands archipelago:
1. The Isabel Nickel Deposit on Santa Isabel
and San Jorge Islands (subject to legal challenge)
2. The Arosi copper-gold project in the Makira
3. The Itina copper-gold project on Guadacanal
(See project locations above in Figure 1.)
1. The world-class Isabel Nickel Deposits
on Santa Isabel and San Jorge Islands
The Isabel Nickel Project is considered to be one of
the largest nickel-laterite deposits in the Pacific. The
project has previously been extensively explored and
developed by mining and engineering industry leaders,
International Nickel Company Limited (INCO) and
Kaiser Engineering (Kaiser).
Extensive testing of the Kolosori deposit was conducted
by INCO from the 1960s to 1970s. During this time,
INCO completed a substantial amount of work across
both deposits with the intention of bringing them
both into production. Work included: 4,409 test pits,
1,484 Gemco Power Auger holes, 394 Hand Auger holes,
121 Banks Drill holes, 43 Winkie Diamond Core holes
and a Feasibility Study.
Review of Projects
Solomon Islands