(MENAFN- ProactiveInvestors)
(ASX:AVQ) has been granted a trading halt by the Australian Stock Exchange.
Axiom requested the halt pending details in relation to the financing of the development of the Isabel Nickel Project which is located in the Solomon Islands.
Earlier in the month Axiom intersected high grade nickel laterite at the project with the drilling program designed to confirm historical data and test potential for further mineralisation below depths of 5 metres to 6 metres.
Key results included:
- 18.2 metres at 1.88% nickel including 12.45 metres at 2.28% nickel; and
- 13.4 metres at 2.01% nickel including 8.4 metres at 2.59% nickel.
Isabel has historic and non-JORC resources estimated at 159 million tonnes at 1.045% nickel and 0.07% cobalt.
The halt will last until the opening of trade on Tuesday 30th December 2014 or earlier if an announcement is made to the market.
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