- Axcap Ventures (AXCP) has acquired a total of 6.18 million ounces of Measured and Indicated gold resources and 1.69 million ounces of Inferred gold resources across three key North American projects.
- The company has embarked on a fully funded 5,000-meter drilling program at its Converse project in Nevada.
- Significant insider buying exceeding $1 million underscores management's confidence in the company's growth strategy.
Axcap Ventures Inc. (CSE:AXCP) has released a corporate update detailing substantial progress in its gold acquisition and exploration strategy. Central to the update is the acquisition of 6.18 million ounces of Measured and Indicated (M+I) gold resources and 1.69 million ounces of Inferred gold resources across three major North American assets: Converse in Nevada, Rattlesnake Hills in Wyoming, and Newton in British Columbia.
The Converse project, the largest gold deposit in Nevada not owned by a major mining company, boasts 5.57 million ounces of M+I resources. Axcap has initiated a 5,000-meter drill program at Converse aimed at uncovering potential depth extensions and structural controls that may lead to the discovery of new mineralized zones, particularly targeting lower plate rock formations known for hosting significant gold deposits in the USA.
Axcap's strategic gold acquisitions were secured at an average cost of $5 per ounce, in stark contrast to current gold trading prices exceeding $3,400 per ounce, highlighting the potential value of these transactions. In a show of confidence, over $1 million in insider buying has been reported, demonstrating strong support from Axcap’s leadership team.
Complementing its acquisitions, Axcap has fortified its technical and corporate leadership with the addition of experienced professionals, including Blake Mclaughlin, previously Chief Geologist at Argonaut Gold. These strategic moves are poised to enhance the exploration and development capabilities of Axcap as it continues to pursue value creation for its shareholders.
To further engage with investors and provide up-to-date information, Axcap has launched a new corporate website and investor presentation at www.axcapventures.ca, featuring a VRIFY presentation that offers an interactive overview of the Converse and Rattlesnake Hills projects.
