Axiom Mining Limited

Published : November 02nd, 2015

Quarterly Activities Report

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Quarterly Activities Report


1 | Axiom - Quarterly Activities Report for the period ended 30 September 2015


Activities Report

For the period ended 30 September 2015

Message from the CEO

This quarter we delivered outstanding results from the first phase of a resource definition drilling program for Axiom's flagship Isabel Nickel Project in Solomon Islands.

At the end of the quarter, we were pleased to announce a maiden JORC Mineral Resource estimate on a small part of the Kolosori tenement. This

is a milestone towards our strategic goal of having the first three to five years of production targets planned.

We completed Phase 1 of our drill program during the quarter, and the significant progress made in other areas of the project ensures we are on track for our first shipment by December 2015. The completion of the first phase within three months is a testament to our 'can do' team culture.

We are proud to report that we haven't lost one day of work on site due to safety, landowner or community issues, and we thank

the government and our landowner partners for their role in this.

We continue to await the judgment from the Solomon Islands Court of Appeal. We are confident of the verdict and our Prospecting Licence.

During the quarter we were pleased to report that approximately $5 million had been raised through a private placement of shares to fund the ongoing development of the Isabel Nickel Project.

On the corporate front, offtake/ sales negotiations are continuing for the Isabel Nickel Project. We also announced the appointment of a new board member and three new executives to strengthen commercial and technical capabilities as we continue to make the transition from explorer to producer. We welcomed Jeremy Gray as a Non-Executive Director, Juan Jeffery as the Executive General Manager of Mining

Operations, Dr Phillip Tagini as the General Manager of Sustainable Development, and Paul Frederiks as Company Secretary.

Our focus in the coming quarter is the second phase of the resource definition drilling program,

preparing for our first shipment of ore and continuing our investment in local communities to ensure they

benefit from our presence in Solomon Islands.

Ryan Mount Axiom CEO

2 | Axiom - Quarterly Activities Report for the period ended 30 September 2015

3 | Axiom - Quarterly Activities Report for the period ended 30 September 2015

Highlights from

the September quarter

Project highlights

Isabel Nickel Project, Solomon Islands

Announcement of Maiden JORC Mineral Resource

  • Maiden JORC Mineral Resource estimate from Prospecting Licence 74/11 area (Kolosori tenement) revealed a total Measured, Indicated and Inferred Mineral Resource of 4.8 million tonnes (Mt) @ 1.3% nickel and 0.08% cobalt, including saprolite total Mineral resource of 2.0 Mt @ 1.7 Ni, including 0.9 Mt

    @ 1.8% Ni of Measured Mineral Resource.

    Completion of Phase 1 of Resource Definition Drilling Program

  • Commenced and completed Phase 1 of Axiom's resource definition drilling program (Kolosori tenement)

  • Resource definition drilling defined mineralisation up to 20m thick

  • On target to scope the first three to five years of production prior to the first shipment of ore in December 2015.

    Drilling program highlights

  • Significant drilling results from Phase 1 resource definition drilling at Havihua Ridge include:

    • 15.8m @ 2.10% Ni from surface including 11.8m @ 2.49% Ni from 4.0m

      - 12.6m @ 2.01% Ni from 1.0m including 10.0m @ 2.32% Ni from 3.0m

    • 12.0m @ 1.85% Ni from 2.0m including 9.2m @ 2.17% Ni from 7.0m

      - 13.0m @ 1.76% NI from 3.0m including 8.0m @ 2.22% Ni from 5.0m.

      Axiom - Quarterly Activities Report for the period ended 30 September 2015 | 3

      Additional results with both high grade limonite and saprolite

      intersections include:

  • 13.5m @ 1.75% Ni from 1.0m including 7.0m @ 1.54% Ni from 3.0m (limonite) and 4.5m @ 2.46% Ni from 10.0m (saprolite)

  • 17.0m @ 1.54% Ni from surface including 3.0m @ 1.65% Ni from 4.0m (limonite) and 7.0m @ 2.16% Ni from 7.0m (saprolite)

  • 11.7m @ 1.52% Ni from surface including 3.0m @ 1.63% Ni from 3.0m (limonite) and 4.0m @ 2.25% Ni from 6.0m (saprolite)

  • 12.0m @ 1.77% Ni from 1.0m including 2.0m @ 1.46% Ni from 3.0m (limonite) and 7.0m @ 2.24% Ni from 5.0m (saprolite).

    Drilling results from Phase 1 resource definition drilling at Kolosori Ridge include the following highlights:

  • 15.5m @ 1.66% Ni from surface including 10.0m @ 2.00% Ni from 3.0m

    • 17.0m @ 1.69% Ni from 1.0m including 12.0m @ 1.96% Ni from 5.0m

  • 19.0m @ 1.62% Ni from surface including 14.0m @ 1.89% Ni from 1.0m

  • 14.0m @ 1.53% Ni from surface including 6.0m @ 2.30% Ni from 5.0m

  • 15.0m @ 1.66% Ni from surface including 10.0m @ 1.87% Ni from 2.0m

  • 17.0m @ 1.52% Ni from surface including 7.0m @ 2.17% Ni from 8.0m

4 | Axiom - Quarterly Activities Report for the period ended 30 September 2015

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Axiom Mining Limited

ISIN : AU000000ASX7
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Axiom Mining is a silver and gold exploration company based in Australia.

Its main exploration properties are OK MINE, MT MOLLOY, CARDROSS, PINEVALE and WHITE HILLS in Australia and PU SAM CAP, QUANG BINH and QUANG TRI in Vietnam.

Axiom Mining is listed in Australia. Its market capitalisation is AU$ 8.7 millions as of today (US$ 6.7 millions, € 5.5 millions).

Its stock quote reached its highest recent level on April 12, 2011 at AU$ 1.26, and its lowest recent point on May 24, 2019 at AU$ 0.02.

Axiom Mining has 348 620 000 shares outstanding.

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Annual reports of Axiom Mining Limited
2007 Annual report
2006 Annual Report
Nominations of Axiom Mining Limited
6/4/2007appointment of Mr John Cook as a non-executive independent
Project news of Axiom Mining Limited
8/12/2016Pre-Feasibility Study for the Isabel Nickel Project
12/3/2015Isabel Nickel Project resource definition drilling update
11/4/2015Isabel Nickel Project resource definition drilling update
9/22/2015Isabel Nickel Project resource definition drilling update
9/14/2015Isabel Nickel Project resource definition drilling update
9/7/2015Isabel Nickel Project resource definition drilling update
8/31/2015Isabel Nickel Project resource definition drilling update
8/24/2015Isabel Nickel Project drilling defines thick mineralisation
8/6/2015Isabel Nickel Project resource drilling uncovers 3% Ni
7/13/2015Isabel orientation drilling program successfully completed
4/24/2015Isabel Nickel Project drilling update
4/10/2015Drilling indicates continuous high grade mineralis
9/26/2008(Nightflower)First Resource Estimate - Nightflower Project
Corporate news of Axiom Mining Limited
8/1/2016Change of Share Registry
7/31/2016Funding for development of the Isabel Nickel Project
7/29/2016Quarterly Activities Report
7/28/2016Trading Halt
7/26/2016Key executive management appointment
7/25/2016Axiom Mining Company Update
6/10/2016Half Year Financial Report 31 March 2016
6/1/2016Notice of Expiry of Options
5/12/2016Axiom Mining EGM 12 May 2016 - Results
5/9/2016Isabel Nickel Project update
5/1/2016Quarterly Activities Report
4/19/2016Axiom Mining Loyalty Bonus Issue
4/19/2016Notice to the Financial Markets Authority
4/7/2016Appendix 3B
4/5/2016Cleansing Statement
4/1/2016Notice of Expiry
4/1/2016Reinstatement to Official Quotation
4/1/2016Axiom moves forward litigation-free with new funding
3/31/2016Axiom Mining 2016 AGM Results
3/30/2016New strategic shareholder
3/23/2016Solomon Islands Court of Appeal Update
3/23/2016Suspension from Official Quotation
3/21/2016Trading Halt
2/2/2016Axiom Mining Company Update
1/18/2016Change of Australian registered office address
12/31/2015Notice of Expiry
12/29/2015Isabel Nickel Project defines first 5 years of production
12/22/2015Appendix 3B
12/21/2015Annual Financial Statements
12/21/2015Off-take agreement and funding with Gunvor
12/16/2015Notice of Expiry and Appendix 3B
12/4/2015Axiom Mining EGM 4 December 2015 - Results
12/4/2015Axiom Mining EGM 4 December 2015 - Chairman's Address
11/3/2015Major funding and partnership for Isabel Nickel Project
11/2/2015Quarterly Activities Report
10/21/2015Change of Director's Interest Notice
10/15/2015Axiom Mining EGM 15 October 2015 - Results
10/15/2015Axiom Mining EGM 15 October 2015 - Chairman's Address
9/30/2015Isabel Nickel Project Maiden Mineral Resource Estimate
9/28/2015Appendix 3B
9/14/2015Notice of Extraordinary General Meeting
9/7/2015Isabel Nickel Project JORC Resource statement imminent
8/21/2015Axiom Mining Key Appointment
8/11/2015Appendix 3B
8/4/2015Appendix 3B
7/31/2015Quarterly Activities Report
7/31/2015Trading Halt
7/31/2015West Guadalcanal Project technical review complete
7/29/2015Axiom Mining Key Management Appointments
7/28/2015$5 million to fund development of Isabel Nickel Project
7/24/2015Trading Halt Request
7/20/2015Appendix 3B
7/17/2015Axiom Mining Solomon Islands Litigation Proceedings Update
7/13/2015Appendix 3B
4/21/2015Response to Price Query
4/15/2015Completion of consolidation
4/14/2015Axiom Mining Solomon Islands Litigation Proceeding
4/2/2015Notice of Expiry
3/31/2015Axiom Mining 2015 AGM Results
3/30/2015Axiom Mining 2015 AGM Chairman's Address
3/9/2015Further high grade results on Isabel Nickel Projec
3/6/2015Notice of Annual General Meeting
2/16/2015Appendix 3B
2/16/2015Cleansing Statement
2/13/2015Anitua extends support for Axiom
2/12/2015Court of Appeal hearing date confirmed
1/23/2015Quarterly Activities Report
1/19/2015Sumitomo provides AU$5 million in bank guarantees
2/22/2008Western Plains - Large increase in Buzzard direct shipping i...
1/31/2008$1.3m exploration for the quarter - significant acqu isition...
11/1/2007 builds on successfuy September quarter exploration a ctivi...
8/16/2007Raises $4m in share placement to accelrate its progr ams in ...
7/31/2007Exciting Results continue from aggressive Exploration in Que...
6/26/2007New geophysical anomalies indicate prime drill targets at Ax...
4/4/2007new tenement grants in aggressive acquisition thru st in Nor...
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