It's a pity I don't have a better pic of this axe. (And it's more than 1500km away now :S)
Well, it's inspired on the axe of Fyrkat, the inscription is taken from the Galdrarbok (a 16th century grimoire) and it is a spell to cause fear on the enemy.
The damascene is made by hand with burins, and the runes are made of copper.
It took me about an hour to an hour and a half each rune.