The Isabel Nickel Project is considered one of the largest nickel-laterite deposits in the Pacific region. The project has been extensively explored and developed by mining and engineering industry leaders but has not proceeded to mine development due to failure to gain the support of customary landowners.
In December 2010, Axiom Mining's collaborative approach resulted in a partnership with the Kolosori and Bungusule tribes, who are the customary landowners of these two tenement areas. The joint venture company Axiom KB Limited was established, with the landowners owning 20% and Axiom Mining 80%.
Axiom KB was then granted a Prospecting Licence over 49 km2 of nickel and cobalt laterite mineralised area on Santa Isabel Island.
On 24 September 2014, Axiom KB emerged successful and unencumbered after three years of litigation proceedings instigated by Sumitomo Mining Metals Solomon over the Isabel nickel deposit.
Since then, Axiom KB has re-started exploration activities in order to progress the project towards production as soon as possible. Initial exploration results have been highly encouraging, revealing grades of more than 2% nickel and depths of mineralisation that far exceed that recorded by previous explorers Kaiser Engineers and INCO.
In early 2014, Axiom Mining secured a highly prospective gold-copper tenement in western Guadalcanal, Solomon Islands. The West Guadalcanal Project is located in a region that hosts many world-class gold and gold-copper deposits. Most fall into the classic gold-rich porphyry copper category, such as Panguna and OK Tedi in Papua New Guinea, Grasberg in Indonesia and the Namosi deposit in Fiji.
Another major group, classified as epithermal gold deposits, is represented by Porgera and Lihir in Papua New Guinea, Emperor in Fiji and Gold Ridge, which is located on Guadalcanal, Solomon Islands. Some of these, such as Porgera Zone VII, host bonanza zones where significant tonnages grade in excess of 30 g/t Au.
The Gold Ridge mine and the Panguna (Bougainville) deposit are two of the closest deposits to the new project area.
The Solomon Islands are located in the south-west Pacific and are part of the globally significant archipelago of mineralisation spanning from the Philippines to Fiji. This region forms part of the commonly referred to “Rim of Fire”.
With eight exploration permits and eight mining leases in its portfolio, Axiom Mining has a strategic mineral tenement holding in the Chillagoe region of North Queensland.
We have also expanded into energy and nickel exploration with the grant of two Exploration Permits for Minerals.
Axiom Vietnam transitioned to maintenance mode on 30 June 2014, and will re-commence exploration in future if circumstances permit.
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