Axiom Mining Ltd. (ASX:AVQ) announced an update to the mineral resource estimate for the prospecting license for the 74/11 area at its Solomon Islands-based Isabel nickel project.
Highlights include:
- High grade saprolite total Mineral Resource tonnage doubled to 3.9 million dry tonnes (Mt) @ 1.7% Ni
- Limonite total Mineral Resource tonnage increased to 8.4 Mt @ 1.0% Ni and 0.11% Co
- Drilling and upgraded Resource estimate validates historical data and highlights high grade extensions of saprolite
- Axiom will continue to upgrade the Resource estimate when drilling recommences in early 2016; site infrastructure development is progressing and sets Axiom on track to meet customer requirements for first shipment of ore by the end of Q1, 2016
Ryan Mount, CEO of Axiom, commented:
We have now successfully defined a minimum of the first five years of production, and the significant tonnage increase in this Resource estimate demonstrates the potential of this world class asset.
Global nickel demand continues to grow, especially for good quality laterite ore in the Pacific yet few new projects are ‘development ready’—this estimate is another milestone that progresses the Isabel Nickel Project closer towards meeting that demand.
Click here to read the full Axiom Mining Ltd. (ASX:AVQ) press release.
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