Vietnam Projects Overview
Axiom has interests, held through project specific controlled Australian corporate entities, in three projects in Central and North-West Vietnam. The Company is focusing on areas that have strong logistics and infrastructure facilities relevant to mineral exploration activities, being close to grid power, highway, rail and port facilities.
Axiom has interests, held through project specific controlled Australian corporate entities, in three projects in Central and North-West Vietnam:
Central Vietnam
- Quang Binh - Axiom interest 56%
- Quang Tri - Axiom interest 80%.
Northwestern Vietnam
- Pu Sam Cap - Axiom interest 2.96-8.47%.
Central Vietnam: Axiom Mining first inspected gold mineralisation at the Xa Khia open pit gold mine in Quang Binh Province east of Oxiana's Sepon gold and copper mines in March 1997 and commenced exploration on 1 July 1998. With its increased knowledge of the geology and mineralisation gained from exploration in Quang Binh, the Company also made an application on its Quang Tri Project approximately 10 kms south of the Quang Binh Project in early 2005.
Axiom Mining geological studies show that the Quang Binh precious and base metal mineralisation is located at a analogous stratigraphic interval and structural setting as reported by Oxiana at Sepon, located some 45 km west of the Axion project areas. Quang Binh and Quang Tri are, in the opinion of Axiom Mining's geologists, similar to Sepon in that mineralisation is sediment hosted and gold-silver is associated with elevated base metals in chemically reactive rocks.
Axiom has Sepon-like Au-Ag targets ready for drilling with resources of 2M ozs of Au projected for each property. One prospect, Xa Khia has been open pit mined since 1995 and recently exposed fresh sulphides contain 57g/t Au and 483g/t Ag.
Currently a drill program is underway that continues to confirm extensions to this fresh sulphide mineralisation.
Northwestern Vietnam: The third area in Vietnam is the Pu Sam Cap area in northwestern Vietnam. The project is centred on a young volcanic complex consisting of a number of coalescing calderas with widespread gold and base metal mineralisation associated with the potassium-rich extrusive and intrusive rocks within the complex. Pu Sam Cap is considered to have the attributes of a high-level, intrusive related porphyry system with potential for the discovery of high grade gold-rich polymetallic vein and possibly skarn-styles of mineralisation, as well as epithermal-style precious metal deposits.
Axiom has a carried interest in the Pu Sam Cap Au-Cu project where Newmont in jv with AIM listed Triple Plate Junction plc are exploring with a resource target of 6.6 million ounces of Au equivalent.