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Axiom Mining Share Price Climb Prompts ASX Query

Axiom Mining (ASX:AVQ) has received an ASX price and volume query following a 43% jump in its shares to $0.215 yesterday, compared to a week earlier.

Axiom said it is unaware of any information not already released that may account for the recent trading.

Shares in the company have continued to rally today, climbing another 9.3% to $0.235 in morning trade.

The company noted it was continually intersecting high grade nickel mineralisation at its Isabel Nickel Project in the Solomon Islands, one of the largest nickel laterite deposits in the Pacific.

Axiom is targeting the establishment of a DSO operation at its world-class Isabel nickel project in the Solomon Islands by end of 2015.

It added that it will appear in the Solomon Islands Court of Appeal hearing over these world class Isabel nickel deposits on 26 May 2015, which it believes to be the last litigation event.

Last year, Axiom convincingly defended its rights over the project against Sumitomo Metal Mining in the Solomon Islands High Court.

This allowed it to develop the asset with the aim of bringing the project into production by the end of the year, in a region where nickel laterite consumers have been deprived of high grade ore.

Recent infill drilling at the Havihua Ridge of the Isabel Project confirmed the continuity of high grade nickel mineralisation zone over a 700 metre strike length.

The 29 infill drill holes will also provide information for the calculation and evaluation of a maiden JORC resource.

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