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Axiom Mining Ltd.
Summary
| Project: | Isabel | |
|---|---|---|
| Deposit: | San Jorge, Kolosori | |
| Location: | Solomon Islands | |
| Commodities: | Nickel | |
| Date: | 8/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-8-2016: Axiom Mining Ltd. announces a Pre-Feasibility Study report for its San Jorge, Kolosori deposit at the Isabel project. PFS results incl. post-tax NPV (8%) of US$188M, IRR of 95%. Axiom Mining Limited (’Axiom’ or ‘the Company’ ) is pleased to ann | |
| Resources: | (Resource, Total): 7.7Mt @ 1.5% Ni, 0.03% Co (1.0% Ni cut-off) at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Axiom Mining Limited (’Axiom’ or ‘the Company’ ) is pleased to announce the positive results from the Pre-Feasibility Study (PFS) conducted by IMC Mining Pty Ltd (IMC) on the world class nickel bearing deposits of the Isabel Nickel Project in the Solomon Islands. This study builds on the JORC Mineral Resource upgrade which was completed and announced on 29 December 2015 and establishes a detailed mine plan that defines the 18 years of mine life. This report presents the mine operations plan for nickel laterite mining on the Kolosori and San Jorge deposits, collectively known as the Isabel Nickel Project (‘The Project’). The Kolosori deposit is currently not owned by Axiom, however the company has re-applied for the Prospecting Licence. The Company currently owns 80% of the San Jorge deposit, and it is anticipated it will own 80% of the Kolosori tenement, if successful with the application. The deposits are located 135 km north-west of the capital Honiara; San Jorge is adjacent to Santa Isabel, as shown in Figure 1.1. Based on a Life of Mine (LOM) of up to 18 years, this PFS is focussed on the development and production of a mine production target of 1.5 Mtpa (wet) product in year one to full operating capacity of 2.2 Mtpa (wet) product by year three. | |
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