Axiom Mining has completed an orientation drilling program at the Havihua Ridge prospect of its Isabel Nickel Project in the Solomon Islands, encountering further good grade nickel intersections. A maiden JORC-compliant resource is expected in the second half of 2015.
Assays from the remaining seven holes from Havihua Ridge continue to confirm the occurrence of high grade nickel mineralization in this setting. Notable results are: 10.5 metres @ 1.52% nickel from 0.5 metres, including 7.5 metres @ 1.84% nickel from 3 metres; 8 metres @1.49% nickel from 2 metres, including 6 metres @ 1.74% nickel from 4 metres; and 10.3 metres @ 1.18% nickel from 1.5 metres, including 3.8 metres @ 1.77% nickel from 8 metres.
Axiom is now preparing for the final phase of the orientation and twinning drilling program at the adjacent Suma Ridge prospect. The company is also undertaking geotechnical and geostatistical drilling around the margins of the Kolosori Ridge saprolite target area for mining control purposes.
The Isabel project is considered to be one of the largest nickel laterite deposits in the Pacific. Axiom has previously announced its project timetable that includes the project being in production, with first shipment of ore, by the end of 2015.
Axiom is in negotiations with project financiers, mine service firms and nickel ore consumers regarding funding, sales and development opportunities in relation to the project.
The company is considering several financing proposals and continues to ensure that capital is sourced and deployed efficiently, and that development milestones are delivered on schedule.