Base Metals

Highlights: Cobalt (Co) and scandium (Sc) enrichment in limonite is widespread across Axiom’s initial exploration area with 82% (127 of 154) drill holes intersecting enriched mineralisation Co grades are much higher than expected and previously recorded by historical explorers This is the first discovery of scandium at the San Jorge deposit Scandium grades at San …

Highlights:

  • Cobalt (Co) and scandium (Sc) enrichment in limonite is widespread across Axiom’s initial exploration area with 82% (127 of 154) drill holes intersecting enriched mineralisation
  • Co grades are much higher than expected and previously recorded by historical explorers
  • This is the first discovery of scandium at the San Jorge deposit
  • Scandium grades at San Jorge are significant for wet tropical laterite deposits
  • Up to 0.39% Co and 120 ppm Sc from individual 1 m samples

Axiom CEO Ryan Mount was quoted as saying:

“The presence of cobalt and scandium adds tremendous value to the deposit. It adds a further edge to our negotiations with customers around the world. We are a nickel miner but there are potential buyers of our ore who would very much be interested in the cobalt and scandium they could extract from the deposit. The market value for scandium in particular is very high,” he said, “with prices generally trading at around 4000 US$ per kg for scandia (scandium oxide) and about 6000 US$ per kg for contained scandium metal.”
“This is another affirmation of our belief in the Isabel Nickel Project and together with our Landowner partners we look forward to our continuing negotiations with the Solomon Islands Government to bring this project to life.”

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