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Axiom Mining receives final nickel assays from first phase drilling

Axiom's final infill drill results show more shallow nickel mineralisation.
Axiom Mining receives final nickel assays from first phase drilling
The company recently raised $1.5 million in a share placement

Axiom Mining (ASX:AVQ) has received the final assays from its Phase 1 drilling program at the Isabel Nickel Project located in the Solomon Islands.

Drilling has continued to intersect encouraging grades of nickel mineralisation including 23.2 metres at 1.36% nickel from 0.9 metres.

Axiom has targeted an area within the San Jorge tenement that presents optimal logistical characteristics of an initial mining direct shipping ore (DSO) operation.

With the completion of Phase 1 of the program, Axiom is currently focused on government approval for its mining lease application.

Ryan Mount, CEO, commented: “These encouraging drill results provide us the confidence for the next stage of planning and development of San Jorge.”

Final assays

Key highlights from the final batch of drilling results include:

- 23.2 metres at 1.36% nickel from 0.9 metres including 10.6 metres at 1.80% nickel;
- 21.0 metres at 1.14% nickel from 3.0 metres including 2.6 metres at 1.73% nickel; and
- 22.0 metres at 1.07% nickel from 1.0 metre including 5.0 metres at 1.40% nickel.
Phase 1 of the drill program was designed to establish an initial area for mining and to support development of an initial JORC resource.

Drilling activities will now pause while awaiting the grant of a mining license at San Jorge although other exploration and development activities will continue.

Phase 2 of the exploration drilling program is planned to commence in tandem with start-up mining activities upon grant of a mining lease.

Upcoming shareholder information sessions

Axiom will again this year conduct two shareholder information sessions:

- Sydney, 27 April; and
- Brisbane, 28 April.

Time and venues are to be announced.

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Axiom Mining Timeline

February 27 2017
November 07 2016

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