Page 22 - Axiom Mining Limited 2012 Annual Report

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Axiom Mining Limited
We continue to explore our tenements
in Vietnam for large, gold-bearing
hydrothermal or porphyry systems. Our
understanding of the geological setting
and the mineralisation processes of the
area is growing and we are ready to tackle
the next stage of exploration.
The Quang Tri Gold Project
Axiom holds a granted Mineral Exploration Licence
(MEL) covering 23km
in the north-central region of
Vietnam. The MEL is located within the prospective
Truong Son Fold Belt (TSFB) – an area of mineralisation
that plays host to a multitude of world-class gold-
copper-silver deposits, including Sepon (2.1Mt Cu,
4.8Moz Au), Phu Bia (1.6Mt Cu, 4.5Moz Au, 34Moz
Ag) and the producing gold mines of Phuoc Son
and Bong Mieu.
The Company is currently exploring and evaluating
three primary targets for economic gold mineralisation
– the Me Xi Prospect, the Xa Loi Prospect and the Khe
Fia Prospect. These prospects were subjected to high
levels of artisanal mining activity prior to the granting
of Axiom’s MEL – a clear indication of the prospectivity
of the area.
The geology of the area is characterised by an
Ordovician-Silurian sedimentary rock package
consisting mainly of fine-grained sandstone, siltstone
and shale. These sedimentary rocks were intruded by
Permian-Triassic intrusives of the Que Son complex,
including porphyritic diorite, andesite and basaltic
andesite dykes. Silica-sericite, sericite-chlorite and
argillaceous (kaolinite) alteration were identified
in all drill holes associated with the sheared zones.
These types of alteration are also present in the
deposits of the other nearby mines mentioned above.
This consistency is a strong indicator of the potential
for gold mineralisation in Axiom’s area.
2012 Exploration
Exploration activity in 2012 consisted of regional
prospecting (including stream and soil pan concentrate
surveys), target definition (including trenching and
channel sampling), anomaly follow-up (including
546.10m of diamond drilling in five holes) and prospect
evaluation. Prospecting work and target definition were
conducted over the whole property area, while diamond
drilling was restricted to the Me Xi Prospect.
Gold mineralisation discovered at the Me Xi and Xa Loi
prospects to date, indicates hydrothermal, epithermal-
mesothermal style gold mineralisation, hosted by east-
west trending shears and developed in the Ordovician-
Silurian sandstones.
Review of Projects