Highly prospective for epithermal gold-silver and porphyry copper-gold mineralisation, the project is 100% owned by Axiom, which lodged the renewal application after the licence's term expired.
"This is a strategic element of our current mineral portfolio and complements our plans for the Isabel nickel project," Axiom CEO Ryan Mount said.
"We are still completely focused on the development of our laterite nickel tenement on San Jorge Island and our licence application for Kolosori.
"The reissue of this licence represents the first successful outcome of Axiom's licence renewal strategy and validates the sensitive and respectful approach that we have taken with key stakeholders.
"We look forward to working with the government and landowners to achieve a resumption of activities on both tenements falling under the umbrella of The Isabel Nickel Project," Mount said.
The West Guadalcanal project has had a number of owners, operators and joint venture partners since the Solomon Islands gained independence in 1978. These include Niugina Mining, the discoverer of the Lihir gold mine, BHP, and, more recently, Glencore.
Significant exploration conducted in 2014 by Axiom recognised the project as one of the most prospective areas for gold, silver and copper.
The project boasts a carbonate base metal gold epithermal corridor greater than 10km long and hosting at least three exploration targets, and a porphyry copper-gold hydrothermal footprint encompassing an area of 10sq.km.