New Zone Of Shallow High-Grade At The Converse Gold Project

VANCOUVER – Axcap Ventures Inc. reported on new drill results from its Converse Gold Project, located in Battle Mountain Trend in Nevada. Results from holes CV25-003C and CV25-005C discovered a new zone of shallow, high-grade oxide gold 170 metres from the nearest known mineralization, as well as extensive bulk-tonnage mineralization. These results reinforce the Company’s thesis that Converse is significantly underexplored and holds substantial upside beyond the current resource estimate of 5.57Moz Au of Measured and Indicated Mineral Resources and 0.42Moz Au Inferred Mineral Resources.
The standout oxide intersection of 25.0 metres grading 0.96 g/t Au from 262.4 metres, including 10.8 metres grading 1.70 g/t Au from 273.7 metres, occurs within a newly discovered breccia unit located roughly 170 metres from previously known gold mineralization. Deeper in the hole, an 81.8-metre interval grading 0.55 g/t Au from 522.1 metres was returned from prograde and retrograde skarn-altered calcareous sediments. Approximately 175 metres below the nearest known mineralized drill intercept, the hole intersected 67.8 metres grading 0.49 g/t Au from 722.4 metres within the targeted breccia pipe and its margin, demonstrating the potential for continued mineralization at depth.
John Dorward, Executive Chairman, said, “Every hole drilled continues to extend Converse’s footprint and strengthen its profile as a significant development project. The dual profile of oxide and bulk tonnage are important ingredients for successful heap leach projects and can deliver optionality, scale, and longevity.”