Axiom Gold and Silver Corporation (OTCBB: AXIO) shares rocketed 8.7% late Thursday to $1.75, following the update on its Aurora Project located in Sonora State, Mexico.. Volume for the stock was 22,462 shares, or about double its daily average.
A news release out August 4 reported that Tucson-based Axiom., through its wholly-owned subsidiary Axiom Minerals de Mexico, S.A. de C.V., received analytical results from Acme Analytical Laboratory Ltd. in Vancouver, B.C. for the first two sets of rock samples (70 samples total) from the systematic sampling program ongoing at the Aurora project. The recent sampling continues to confirm the presence of an extensive surface gold anomaly in excess of 4,000m east-west by 500 metres north-south, with 12 samples (17%) returning values above 0.1g/t gold.
Sampling is continuing and an additional 70 samples are awaiting analysis. Detailed mapping is ongoing concurrently with the sampling, with the objective of selecting drill targets for the initial drill program in October.
Company President Dr. John Larson was quoted in the release as saying, “Given the reports of visible gold from our field team, we intend to start taking large volume samples (10 kg – 20 kg) to give us, what we think will be, a more realistic representation of the gold present in the area. This large volume sampling will begin immediately and will also help identify drill targets”.
Axiom through its wholly owned subsidiary, Axiom Minerals de Mexico S.A. de C.V., is a mineral exploration company with current properties located in Sonora State, Mexico, and is also actively seeking additional exploration and mining concessions in Mexico, Argentina and Chile.