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News - AXG Mining chairman leads from the front with continued on market investment in June

AXG Mining (ASX: AXC) chairman Alex Bajada is demonstrating his confidence in the company with continued on-market share acquisitions during the month of June.

Bajada has purchased over 2 million shares in June alone for a total consideration of around A$8,435. He now holds almost 13.2 million shares in AXG Mining.

The company has been delivering some early stellar results from its Condoroma copper-gold project in southern Peru, with sampling returning silver anomalies with grades of up to 995 grams per tonne (g/t) silver.

Condoroma is located in the prospective Andahualyas-Yauri mineral field.
 
The property is close to and along the same structure as large mines and development projects such as Xstrata’s (LSE: XTA) Tintaya mine and Las Bambas and Antapaccay development projects.
 
The belt currently hosts over 4 billion tonnes of Inferred and Indicated Resources.
 
Peru is widely considered one of the best mining jurisdictions in the world ranking third globally in copper production, fourth in the world in molybdenum production and is Latin America’s largest producer of gold.

Previous geochemical sampling, together with induced polarisation and magnetic surveys, has outlined a total of six drill targets at Condoroma.

The geology of the Condoroma property appears to be consistent with that of other large copper-gold porphyry and skarn systems in Peru.


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