Ann: Axiom Expects New Gold-Copper Tenement in So, page-7

re: Ann: Axiom Expects New Gold-Copper Teneme... The area in Makira Province covers 218 sqkm in one of the world’s most prolific
gold producing regions
? Letter of Intent issued and Surface Access Agreement executed and lodged
? Prospecting Licence anticipated to be granted shortly
Axiom Mining Limited, through its wholly owned subsidiary, South Pacific Minerals Limited
(“Axiom” or “the Company”) advises that it has satisfied the terms of a Letter of Intent granted
by the Solomon Islands Government for a Prospecting Licence on San Cristobal Island,
Makira Province in Solomon Islands. The Prospecting Licence to explore for gold and copper
is anticipated to be granted shortly.
Axiom’s community affairs team achieved overwhelming support and approval from the Makira
provincial government and relevant landowners. The executed Surface Access Agreement
has been approved by the Attorney General’s Office and lodged with the Ministry of Mines,
Energy and Rural Electrification.
The proposed tenement covers an area of 218 sqkm of prospective land on north-west San
Cristobal Island and is subject to local alluvial mining operations. It is located within one of the
world’s most prolific gold producing regions. This relatively unexplored gold belt lies within the
Rim of Fire, which stretches from Lihir Island in PNG (Proven Resource 54M oz Au) through
Panguna, Bougainville (once the largest copper-gold deposit in the world) and ends at the
Vatukoula gold deposit in Fiji (Proven Reserve 0.8M oz Au).
(1)
Axiom is ready to commence exploration activities which will initially include reconnaissance
work, preliminary interpretation of geology, geological mapping and mineralisation
identification. Further systematic exploration, including geophysics and diamond drilling, will
then take place.
In making this application, Axiom has been able to leverage its already established operations
including its community affairs team, management and will soon utilise its operational and
exploration team as well as equipment.
Axiom remains focussed and confident of delivering on its nickel assets on Santa Isabel Island
but also sees itself in a prime position to capitalise on the rapidly growing resource sector in
the Solomon Islands which has recently encountered a huge level of interest from the
international mining industry.
(1)
The above reserve and resource figures are obtained from Newcrest’s and Vatukoula’s websites.