Axiom Mining (ASX: AVQ) will commence exploration activities this week on the recently granted Quang Tri Mineral Exploration Licence (MEL) in Vietnam to evaluate the gold and copper prospectivity.
The program will consist of diamond drilling and is designed to evaluate the prospectivity of the Xa Loi, Me Xi and Khe Fia gold prospects in the central portion of the MEL area.
In Vietnam, the company has four gold project areas, most notably the Quang Binh and Quang Tri projects adjacent to the large Sepon gold and copper mines.
Initial exploration will involve establishing survey control, geological mapping and reconnaissance diamond drilling.
The MEL is in Quang Tri province and is 80% owned by Axiom Vietnam JSC, an Axiom subsidiary.
The company said phase one exploration will evaluate the economic opportunity of the Me Xi prospect in the eastern portions of the MEL.
Phase two and three exploration will concentrate upon the Xa Loi and Khe Fia gold prospects.
Similar host rocks from the Trung Son Basin are found in the Sepon Gold Mine, 35 kilometres to the west in Laos. All prospects are being worked by local artisanal miners, further enhancing the prospective opportunity.
At the Xa Loi Gold Prospect gold tenor returned from an initial reconnaissance rock chip sampling conducted in March 2010 confirmed the highly prospective nature of the prospect and range from 1 to 15.2 grams/tonne gold with associated silver values from 20 to 60 grams/tonne.
At the Me Xi Gold Prospect gold values from an initial reconnaissance rock chip sampling program in March 2010 returned gold grade values ranging from 0.4 to 50.32 grams/tonne.
The Khe Fia Gold Prospect represents an auriferous epithermal quartz vein zone with an east-west surface exposed strike length of up to 400 metres and is 2 to 3 metres wide, and dips at a moderate angle to the south.
Initial reconnaissance rock chip values have returned anomalous gold in the range of 0.4 to 4 grams/tonne.