Page 26 - Axiom Mining Limited 2012 Annual Report

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Axiom Mining Limited
Review of Projects
With eight exploration permits and eight
mining leases in its portfolio, Axiom
holds a strategic tenement position in the
Chillagoe region of North Queensland.
Leveraging in-house technical expertise,
we are focused on identifying, exploring
and developing low-grade and large
tonnage copper-gold-silver deposits
that are typical of the Chillagoe region
and local geological setting. We have
also engaged in joint ventures and are
examining further strategic partnership
opportunities to add value to our projects.
The Cardross Copper-Gold-Silver Project
The Cardross Mining Lease (ML) and Exploration
Permits for Minerals (EPM) are located west of Chillagoe
and are accessible via the Burke Development Road
and a number of station tracks.
To date, Axiom has completed a range of drilling
programs at the Cardross ML to increase the confidence
for ore resource modelling. The Company has also
tested areas at depth to the north of the Chieftan Mine,
as well as conducted shallow drilling on the northern
half of the mining lease.
The 2012 Axiom drilling program consisted of
the following:
3 deep diamond core holes
3 shallow diamond core metallurgical holes,
with completed assays
10 reverse circulation (RC) percussion holes
Overall, 75% of assayed holes intersected significant
copper, gold and silver mineralisation
Significant intersections include:
11m @ 2.68% Cu, 0.12 g/t Au, 47.5 ppm Ag from
38m (CA12RC06)
10.6m @ 2.44% Cu from 39.4m (CA12DD04)
7m @ 1.15% Cu, 0.65 g/t Au, 16.3 ppm Ag from
77m (CA12RC01)
5m @ 1.11% Cu, 0.31 g/t Au, 9.05 ppm Ag from
44m (CA12RC07)
Note: Further intersections are detailed in Table 1.