Axcap Ventures Announces Updated Resource Estimate for Converse Project

Axcap Ventures Inc. reports an updated mineral resource estimate for the Converse Project in the Battle Mountain-Eureka Trend, Nevada. The project now holds a measured and indicated resource of 262.7 million tonnes at 0.61 grams per tonne, totaling 5.17 million ounces of gold. The inferred resource stands at 26.4 million tonnes at 0.65 grams per tonne, comprising 0.55 million ounces of gold.

Strategically positioned in a renowned US mining region, Converse benefits from nearby infrastructure, reducing future development costs. The potential for resource growth remains significant, with further exploration opportunities on the property. Additionally, the site shows promising high-grade copper and silver deposits, although these are not included in the current resource estimates.

Converse's bulk mineralization, combined with its favorable location, supports its potential as a high-quality, advanced asset. The updated resource estimate is based on a base case gold price of $1,750 per ounce with sensitivity to rising prices. The technical report will be available on SEDAR+ within 45 days.