Page 27 - Axiom Mining Limited 2012 Annual Report

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2012 Annual Report
These results confirm the presence of material
copper-sulphide mineralisation, with significant gold
and silver credits, at shallow depths in the northern
half of the Cardross ML. They also complement the
2011 RC results, which were derived from the initial
northern sulphide zone:
16m @ 1.01% Cu, 0.29 g/t Au, 13.9 ppm Ag from
55m (CA11RC04)
8m @ 2.03% Cu, 0.4 g/t Au, 41.6 ppm Ag from
118m (CA11RC05)
5m @ 2.30% Cu from 119m (CA11RC24)
7m @ 1.67% Cu, 0.10 g/t Au, 27 ppm Ag from
69m (CA11RC09)
5m @ 2.30% Cu, 0.32 g/t Au, 35 ppm Ag from
119m (CA11RC17)
The mineralised zones characterise probable low waste
strip ratios. These assay results will be combined with
ongoing assaying, assay verification and metallurgical
test work to form a new comprehensive results
database. Once all this is completed, modelling can
commence for a maiden Resource Calculation in 2013.
Joint Venture with Solomons Copper
Australia Pty Ltd at Cardross
During the year, an agreement was reached with
Solomons Copper Australia Pty Ltd to assess the
potential of the Cardross shallow copper-gold oxide
mineralisation to be mined. It was agreed for this
process to take place at the nearby Solomons Copper
Australia’s heap-leach treatment facility, located
approximately 17km from the Cardross ML.
In consultation with Axiom technical staff, Solomons
Copper Australia Pty Ltd designed and implemented a
series of drill holes to assess the copper and gold oxide
potential – a program that consisted of 99 vertical
airtrack percussion holes.
Significant shallow gold and copper assay results
were encountered within the oxide zone, immediately
overlying the previously outlined massive
sulphide zones:
Specific copper highlights include:
19m of 1.17 % Cu from 3.00m (CA12AT012)
18m of 0.74 % Cu from 6.50m (CA12AT011)
11m of 1.21 % Cu from 4.75m (CA12AT013)
Specific gold highlights include:
7m of 1.67 g/t Au from of 6.50m (CA12AT011)
2m of 4.81 g/t Au from of 3.00m (CA12AT070)
4m of 1.60 g/t Au from of 13.50m (CA12AT070)
4m of 1.66 g/t Au from of 6.50m (CA12AT080)
Drilling at Cardross
Figure 4. Queensland Project Locations
oK Mines
Mount Molloy
White Hills
Split Rock
Mountain maid