The loops are usually located near the bottom portion of the pack. The ice axe shaft slides through the loop, flip it up, then strap it to the pack. There is only webbing located on the side of the pack. I'll figure something out.
Check under military accessories on the Kifaru site, they have an ice ax holder. Not sure if it will work with the timberline or not. It's worth a shot anyhow.
I actually manufactured something out of 550 cord for my ice Axe, but it attaches the same way/area as the photo above. I use the upper horizontal compression strap to keep it in place.
They can be worth there weight in gold. I have gotten out of some pretty wicked places that with out one I still would probably be stuck up on the mountain!
I checked out the military packs from Kifaru and the ice axe attachment, but unfortunatley the Timberline model packs only have webbing on the sides of the pack and hip belt. I have some extra cord I'll rig something up.