Australian miner Axiom acquires gold-silver-copper project in Solomon Islands
Axiom Mining has purchased the West Guadalcanal Project located in the Solomon Islands. The said area project is prospective for gold, silver, and copper mining, according to Proactive Investors.
Based on limited surface evaluation conducted by previous explorers, the 485-square-kilometer project contains the size and grade potential that will qualify for main mineralization trends, the report stated.
The Australian mining company has undergone systematic and predictive surface evaluations across three exploration prospects ahead of a scheduled drilling program halfway through 2014, the report added.
Meanwhile, Axiom has also raised $1.5 million in funding via private placement and issuance of convertible notes. The proceeds will be used for the completion of the company's court proceedings in the Solomon Islands High Court over the nickel deposits in Isabel, Proactive Investors reported.
Axiom Mining is a mining and exploration company that focuses on the mineral resources contained within the Pacific Rim. The Queensland-based firm currently has operations in Australia, the Solomon Islands, and Vietnam, according to Axiom's website.