ARBN 119 698 770
Mendana Ave, Honiara Solomon Islands
Level 6, 15 Astor Terrace Spring Hill QLD 4000
Australia
T + 61 7 3319 4100
www.axiom-mining.com
ASX Announcement
Isabel Nickel Project - San Jorge deposit drilling results
6 March 2017- The Phase 1 drilling program at San Jorge is now complete with assay results of 144 holes received to date.
- Drilling has continued to intersect encouraging grades of nickel mineralisation.
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Key highlights from the drilling include:
- 15.4m @ 1.07% Ni from 2.5m including 3.6m @ 1.65% Ni from 6.7m
- 12.5m @ 1.22% Ni from 2.5m including 6.1m @ 1.59% Ni from 7.5m
- 8.5m @ 1.12% Ni from 2.0m including 2.0m @ 1.7% Ni from 8.0m
- 10.5m @ 1.11% Ni from 1.5m including 3.5m @ 1.58% Ni from 8.5m
- Drilling results will be used to construct a Mineral Resource estimate in early 2017.
- Mining lease application awaiting government approval.
Axiom Mining Limited ('Axiom' or 'the Company') is pleased to announce further results from the drill program at the Isabel Nickel Project on San Jorge Island in the Solomon Islands.
Axiom has targeted an area within the San Jorge tenement that presents optimal logistical characteristics of an initial mining DSO operation. Results from the drilling program will be used to deliver a Mineral Resource estimate in early 2017. Assay results for further holes remain outstanding.
The Phase 1 of the program at San Jorge has been successfully concluded with the 50 by 50m drill pattern complete across the initial area of focus. The definition program included selected 25m infill holes as well as sterilisation holes on the edge on the known mineralised zone to assist with initial mining boundaries to ensure efficiency in proceeding to stockpiling and mining.
With the completion of Phase 1 of the program, the Company is currently focused on key elements to commence mining including licencing and permitting. Further to this Axiom is also assessing the additional historically modelled mineralised areas over the remainder of the tenement, as well as new exploration targets, that occur at San Jorge recently identified. Significant potential for additional saprolite mineralisation occurs at San Jorge that warrants modern testing - this will likely to occur parallel to mining operations.
Phase 1 of the drilling program was designed to establish an initial area for mining, satisfy criteria for the submission of a mining lease application and produce an initial JORC Mineral Resource. Drilling activities will now pause while waiting the grant of a mining license at San Jorge although some other exploration and development activities will continue during March. Phase 2 of the Resource and exploration drilling program is planned to commence in tandem with start-up mining activities upon grant of the mining lease.
The project location is indicated in Figure 1 with drilling details provided in Figure 3 and Table 1.
Figure 1 San Jorge drilling location overview Figure 2 Drilling and sampling operations Table 1 New assay results from San Jorge drillingHole ID Entire Limonite Saprolite Easting* Northing* RL EOH intersection^ intersection# intersection~ (m)(m) | |||||||
SJ-090 | 7.7m @ 0.77% Ni from 2m | 572998 | 9059400 | 208 | 9.7 | ||
SJ-091 | 9m @ 0.86% Ni from 2m | 1m @ 1.32% Ni from 9m | 572950 | 9059600 | 183 | 12.7 | |
SJ-092 | 1.1m @ 0.88% Ni from 0.9m | 572615 | 9059700 | 202 | 4.2 | ||
SJ-093 | 3.4m @ 0.93% Ni from 7m | 572904 | 9059654 | 184 | 10.4 | ||
SJ-094 | 4m @ 0.79% Ni from 2m | 573002 | 9059299 | 216 | 7.2 | ||
SJ-095 | 6m @ 1.13% Ni from 2m | 3m @ 1.47% Ni from 5m | 572943 | 9059700 | 167 | 11.4 | |
SJ-096 | 2m @ 1.09% Ni from 3m | 1m @ 1.23% Ni from 4m | 573004 | 9059196 | 213 | 6.8 | |
SJ-097 | 2.7m @ 0.84% Ni from surface | 572902 | 9059706 | 169 | 6.0 | ||
SJ-098 | 2m @ 0.7% Ni from 2m | 572953 | 9059202 | 217 | 5.2 | ||
SJ-099 | 10m @ 1.1% Ni from 1m | 4m @ 1.2% Ni from 3m | 2m @ 1.52% Ni from 7m | 572903 | 9059404 | 214 | 12.5 |
SJ-100 | 3.3m @ 0.91% Ni from 4m | 572944 | 9059663 | 176 | 8.2 | ||
SJ-101 | 11m @ 1.26% Ni from 2m | 7m @ 1.49% Ni from 5m | 572891 | 9059450 | 199 | 14.1 | |
SJ-102 | 3m @ 0.82% Ni from surface | 572850 | 9059650 | 176 | 4.7 | ||
SJ-103B | No significant intersection | 572845 | 9059687 | 170 | 6.0 | ||
SJ-104 | 10m @ 1.03% Ni from surface | 2m @ 1.35% Ni from 6m | 1m @ 1.38% Ni from 8m | 572799 | 9059902 | 145 | 12.0 |
SJ-105 | 9m @ 1.18% Ni from 2m | 3m @ 1.5% Ni from 6m | 2m @ 1.42% Ni from 9m | 572901 | 9059505 | 202 | 14.5 |
SJ-106 | 10m @ 0.94% Ni from surface | 572602 | 9059296 | 134 | 11.0 | ||
SJ-107 | 9.2m @ 1.07% Ni from 2m | 2m @ 1.4% Ni from 7.5m | 572904 | 9059554 | 193 | 17.2 | |
SJ-108 | 5m @ 1% Ni from surface | 1m @ 1.26% Ni from 2m | 572598 | 9059248 | 139 | 6.5 | |
SJ-109 | 8.9m @ 1% Ni from 3m | 3.1m @ 1.24% Ni from 5m | 1.3m @ 1.34% Ni from 8.1m | 572645 | 9059253 | 167 | 12.2 |
SJ-110 | 8.5m @ 1.12% Ni from 2m | 2m @ 1.7% Ni from 8m | 572647 | 9059195 | 195 | 10.5 | |
SJ-111 | No significant intersection | 572698 | 9059147 | 184 | 5.6 | ||
SJ-112 | 2m @ 0.71% Ni from 1m | 572650 | 9059454 | 205 | 5.8 | ||
SJ-113 | No significant intersection | 572648 | 9059547 | 200 | 2.4 |
Hole ID | Entire intersection^ | Limonite intersection# | Saprolite intersection~ | Easting* | Northing* | RL (m) | EOH (m) |
SJ-114 | No significant intersection | 572654 | 9059500 | 202 | 3.1 | ||
SJ-115 | No significant intersection | 572600 | 9059446 | 213 | 1.7 | ||
SJ-116 | 2.8m @ 0.86% Ni from 4.5m | 572354 | 9059698 | 216 | 11.5 | ||
SJ-117 | 3.5m @ 0.76% Ni from 1.5m | 572405 | 9059699 | 218 | 6.5 | ||
SJ-118 | 8.1m @ 0.81% Ni from 2.5m | 572352 | 9059746 | 220 | 13.4 | ||
SJ-119 | 3.8m @ 1.08% Ni from 3.6m | 572399 | 9059752 | 215 | 11.2 | ||
SJ-120 | 19.3m @ 1.04% Ni from 2m | 6m @ 1.39% Ni from 6.6m | 572303 | 9059747 | 212 | 23.3 | |
SJ-121 | 2.7m @ 0.73% Ni from surface | 572405 | 9059802 | 219 | 4.2 | ||
SJ-122 | No significant intersection | 572450 | 9059702 | 204 | 4.5 | ||
SJ-123 | 1.2m @ 0.7% Ni from 3.2m | 572451 | 9059747 | 209 | 5.2 | ||
SJ-124 | 15.4m @ 1.07% Ni from 2.5m | 2.2m @ 1.29% Ni from 4.5m | 3.6m @ 1.65% Ni from 6.7m | 572351 | 9059802 | 207 | 18.5 |
SJ-125 | 8.8m @ 1.05% Ni from surface | 2m @ 1.5% Ni from 4.5m | 1.5m @ 1.29% Ni from 6.5m | 572298 | 9059802 | 222 | 8.8 |
SJ-126 | 12.3m @ 1.19% Ni from 1.2m | 3.2m @ 1.33% Ni from 6.3m | 3.4m @ 1.46% Ni from 9.5m | 572351 | 9059853 | 206 | 13.8 |
SJ-127 | 10.5m @ 1.11% Ni from 1.5m | 3.5m @ 1.58% Ni from 8.5m | 572301 | 9059849 | 223 | 14.2 | |
SJ-128 | 1.8m @ 0.69% Ni from 1.5m | 572495 | 9059748 | 187 | 4.2 | ||
SJ-129 | 6.9m @ 0.92% Ni from 0.9m | 572352 | 9059903 | 187 | 7.8 | ||
SJ-130 | 1.7m @ 0.72% Ni from surface | 572493 | 9059700 | 183 | 3.0 | ||
SJ-131 | 4.1m @ 0.78% Ni from surface | 572486 | 9059800 | 197 | 4.7 | ||
SJ-132 | 4.4m @ 0.86% Ni from 1.5m | 572441 | 9059797 | 207 | 7.0 | ||
SJ-133 | 10.7m @ 1.27% Ni from surface | 2m @ 1.8% Ni from 4.3m | 3.7m @ 1.47% Ni from 6.3m | 572306 | 9059900 | 201 | 11.1 |
SJ-134 | 5.1m @ 1.08% Ni from 3.5m | 2.1m @ 1.46% Ni from 5.5m | 572449 | 9059851 | 185 | 9.2 | |
SJ-135 | 5.1m @ 0.78% Ni from 0.9m | 572353 | 9059952 | 189 | 6.8 | ||
SJ-136 | 5m @ 0.88% Ni from 0.9m | 572399 | 9059840 | 205 | 5.9 | ||
SJ-137 | 6m @ 0.97% Ni from 1.5m | 572396 | 9059948 | 184 | 7.5 |
Axiom Mining Limited published this content on 06 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 March 2017 01:03:06 UTC.
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