--- title: "Axies Ventures targets Petalas gold drilling as Kokkinoantonis copper project advances" publisher: "Share Talk" author: "sharetalk" published: "2026-11-10T10:00:08+00:00" modified: "2026-11-10T10:00:08+00:00" date: 2026-11-10 canonical: "https://www.share-talk.com/axies-ventures-targets-petalas-gold-drilling-as-kokkinoantonis-copper-project-advances/" category: "Mining" categories: ["Mining"] tags: ["Axies Ventures", "AXV", "Black Township", "canada", "copper intersection", "Cyprus", "Endikai Lake", "Jeremy Woodgate", "Kofinou", "Kokkinoantonis", "Kokkinoantonis Complex", "Lythrodontas", "Mike Whitlow", "Nick Tulloch", "Ontario", "Petalas", "Powerline-Morley", "Rackey Lake", "Sia North", "Steve Pawson"] image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/11/5c6d9414-bebf-420e-bb0c-803ec4d4de31.png?fit=1727%2C911&quality=80&ssl=1" format: "news" language: "en-GB" --- # Axies Ventures targets Petalas gold drilling as Kokkinoantonis copper project advances **Published:** November 10, 2026 **Author:** sharetalk **Categories:** Mining **Tags:** Axies Ventures, AXV, Black Township, canada, copper intersection, Cyprus, Endikai Lake, Jeremy Woodgate, Kofinou, Kokkinoantonis, Kokkinoantonis Complex, Lythrodontas, Mike Whitlow, Nick Tulloch, Ontario, Petalas, Powerline-Morley, Rackey Lake, Sia North, Steve Pawson **Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/11/5c6d9414-bebf-420e-bb0c-803ec4d4de31.png?fit=1727%2C911&quality=80&ssl=1) --- **Update on exploration programmes following AIM Admission** **Petalas drilling, Kokkinoantonis dump development work being advanced and Canadian assay results anticipated** [Axies Ventures plc (AIM: AXV)](https://sparklive.lseg.com/news/rns/axies-ventures-plc-update-on-exploration-programmes/20261110:nRSJ4304Ca) has outlined an accelerated exploration programme across its copper and gold projects in Cyprus and Canada following its recent admission to AIM, with drilling at Petalas targeted to begin within 10 to 14 days and further technical work planned at Kokkinoantonis. The company is prioritising a series of exploration activities designed to investigate historical mineral discoveries, assess the potential of copper-bearing mine waste and generate new assay results while maintaining strict control over expenditure. **At the Petalas gold-copper project in Cyprus, preparations are progressing for an initial three-hole rotary air blast (RAB) drilling programme**, following discussions with civil engineering and drilling contractors on 6 November 2026. Site preparation works are expected to take approximately **seven to ten days**, with drill rig mobilisation planned within seven days of the announcement and drilling targeted to commence within **10 to 14 days**, subject to operational readiness. The programme will investigate historical gold-copper mineralisation, including a particularly encouraging intersection reported by Northern Lion Gold Corp in 2011. **Historical drilling at Petalas returned approximately 28 metres grading 4.5 grams per tonne gold**, providing a priority target for the forthcoming campaign. Axies intends to use the initial drilling to investigate the historical result, assess the continuity of mineralisation and improve its understanding of the underlying geological structures. The company selected RAB drilling following a technical review of historical RAB and diamond drilling information, which management believes demonstrated sufficient correlation to support a lower-cost initial exploration programme. **Diamond drilling remains an option for subsequent work**, particularly where more detailed geological information or core samples are required. At the **Kokkinoantonis copper project**, Axies is preparing to advance two complementary opportunities: the subsurface copper mineralisation identified through earlier drilling and the potential recovery of metals from historical mine dumps. **Diamond drilling completed in 2025 intersected 137 metres grading 0.34% copper**, including approximately **72 metres at 0.50% copper** and a higher-grade interval of approximately **13 metres at 0.88% copper**. These results provide a basis for further exploration of the mineralised system, although additional drilling will be necessary to establish its wider extent and economic potential. **The historical mine dumps represent a separate development opportunity**, with preliminary calculations suggesting they could contain between **8.7 million and 13.9 million tonnes of material**. The estimate has been derived using two reported density assumptions and remains an early indication of possible tonnage rather than a verified mineral resource. Axies plans to undertake **targeted drilling, systematic sampling and metallurgical testing** to establish the quantity and distribution of potentially recoverable metals. The work will also examine possible processing methods and assess whether the material could support an economically viable recovery operation. **The potential scale of the historical dumps makes Kokkinoantonis an important focus for the company’s near-term technical programme**, although the commercial value of the material remains dependent on confirming its grade, metallurgical performance and processing costs. Alongside the dump assessment, Axies intends to undertake further geological evaluation and follow-up drilling of the subsurface copper mineralisation discovered in 2025. **In Canada, exploration fieldwork has been completed across three of the company’s four Ontario assets**, with laboratory assay results currently awaited. The fieldwork included geological observations and sampling intended to refine exploration targets and identify areas warranting further investigation. Axies has received support through the **Ontario Junior Exploration Program (OJEP) over the past three years**, helping advance its Canadian exploration activities. Management expects the outstanding assays to provide additional information for planning future work across the portfolio. **Managing Director Jason Germiquet** said the company’s recent AIM admission marked the beginning of a more active operational period, with exploration programmes being advanced across Cyprus and Canada. He emphasised that Axies intends to allocate capital progressively, prioritising technically justified work that can deliver meaningful geological information without unnecessary expenditure. **Executive Director Heinrich Muller** highlighted the importance of selecting appropriate exploration methods for each project, noting that the initial RAB programme at Petalas is intended to investigate historical gold mineralisation efficiently. He also identified metallurgical assessment of the Kokkinoantonis mine dumps as a priority for understanding their potential economic significance. **The company’s immediate milestones include commencement of the three-hole Petalas drilling campaign, progress on Kokkinoantonis dump sampling and metallurgical studies, and receipt of the Canadian exploration assays.** For investors, the programme provides several near-term opportunities for technical progress following Axies’ admission to AIM. However, **the historical Petalas gold intersection requires further investigation, while the preliminary Kokkinoantonis dump tonnage has not been verified as an economically recoverable resource**. **Axies Ventures is now focused on converting its exploration portfolio into measurable drilling results and technical assessments**, with the forthcoming programmes expected to provide a clearer indication of the potential of its copper and gold projects in Cyprus and Canada. --- **Original URL:** https://www.share-talk.com/axies-ventures-targets-petalas-gold-drilling-as-kokkinoantonis-copper-project-advances/ *Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*