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Drill, Baby, Drill: Axcap’s Gold Surprise Under the Pit

Disseminated on behalf of Axcap Ventures Inc.

•• 1 Min
Drill, Baby, Drill: Axcap’s Gold Surprise Under the Pit

In the heart of Nevada’s storied Battle Mountain-Eureka Trend, Axcap Ventures Inc (OTC: GARLF | CSE: AXCP) has made a bold entrance into the exploration scene with news that could reset the clock on an already massive gold resource. The company’s first drill hole, CV25-001C, part of a 5,500-meter program at its Converse Project, has not only confirmed near-surface mineralization but pierced into an entirely new high-grade zone lying beneath the existing pit shell.

While maiden holes often play a cautious role, confirming assumptions, adjusting models, and easing investor nerves, Axcap’s first attempt has done something else entirely. It has challenged the limits of the previously modeled resource, revealing a new, deeper zone grading 5.45 grams per tonne gold over 10.85 meters. That kind of intercept, especially below a known resource, changes everything. It doesn’t just validate the model; it enhances the future. It repositions the asset from a large, low-grade open-pit story to something with the potential for a hybrid, higher-margin development scenario.

The Converse Project already holds an impressive 5.5 million ounces of gold (330mt@0.53g/t) in measured and indicated categories and another 420,000 ounces inferred (25mt@0.53g/t). That’s already a significant number for any explorer. But grades like this, those intersected deeper down at 666.4 meters, paint a different kind of picture. High-grade, skarn-hosted mineralization in retrograde-altered, limey sandstone with sulphides may signal a style of mineralization previously overlooked by former operators.

This isn’t just about thick zones of mineralization; it’s about discovering pockets of high-grade ore where few expected to find them. Consider that the higher-grade hit sits within a broader 26.18-meter interval grading 2.52 g/t gold. Even the shallow results tell a compelling story, with 21.21 meters (true thickness unknown) starting at just over 200 meters depth, returning a cocktail of 0.31 g/t gold, 9.71 g/t silver, and 0.18% copper. These multi-element signatures, especially with silver and copper, add metallurgical flavor and strategic optionality, potentially pointing to polymetallic potential in the system.

This drill program wasn’t just about chasing grades; it was methodical in design. Its three-pronged objective: confirm the current open-pit resource, reduce internal waste and strip ratio, and test areas below and adjacent to the pit shell. With this first hole, Axcap is already ticking all three boxes. And they’re not done yet. Results from the rest of CV25-001C and the second hole, CV25-002C, are pending. The latter, of particular interest, targeted the mid-plate rocks below the Golconda Thrust, units known to host significant ore at nearby Buffalo Valley.

The company’s technical team, led by VP of Exploration Blake McLaughlin, is understandably energized. In his words, “This intersection significantly expands the mineralized area at Converse and validates our exploration approach.” He adds that the high-grade interval “clearly demonstrates the potential for meaningful discoveries” in favorable host rocks—an optimistic signal that this summer’s campaign may just be getting warmed up.

image.jpeg Figure 1: Long-Section Through Converse - Looking West

When we zoom out and place this discovery in its broader economic context, it becomes even more intriguing. The mineral resource was modeled using a US$2,000/oz gold price, with conservative mining and processing cost assumptions. The slope angles range from 36 to 41 degrees, recoveries span from 77% for oxide to 52% for sulphide, and an NSR of 6% was factored in. This is a project that has been engineered conservatively—and is now offering upside potential not previously accounted for.

From a technical standpoint, Axcap’s methodology and QA/QC protocols also deserve attention. Core drilling is carefully managed, from collaring with a PQ bit to cutting, logging, and sampling at their Carlin Coreshack. Samples are bagged, sealed, and analyzed at ALS Global's labs in Elko and Reno, using ISO-certified methods. Rigorous checks, including blanks, standards, and duplicates, ensure the reliability of results. While metallic screen assays are being run on select samples, they’re not expected to improve the results, only to confirm their accuracy.

The project’s geology tells its own story. Hosted in retrograde skarn—a mineralized zone that often delivers higher grades due to fluid-metal interactions in carbonate-rich rocks—the setting is right for more discoveries. The presence of sulphides suggests robust mineralizing fluids, and the proximity to the Golconda Thrust implies structural controls that could focus gold deposition. For exploration geologists, this is a textbook setup. For investors, it’s the kind of news that brings fresh eyes—and capital—to a previously overlooked property.

Axcap’s strategy, unlike many single-asset juniors, is about consolidation. They’re focused on collecting potentially underappreciated assets in Canada and the U.S.—deposits with scale, stranded by capital markets, not geology. By identifying these orebodies and advancing them during times when others are stepping back, they position themselves for possible returns in the next gold cycle. The philosophy is simple: find gold where others forgot to look, drill it smarter, and unlock value before the market wakes up.

With just one hole reported and more assays on the way, the story is far from complete. But it’s safe to say that Axcap Ventures (OTC: GARLF | CSE: AXCP) is not just drilling—it’s redefining expectations. The Converse Project, already a large gold resource, now has a high-grade heartbeat at depth. And with every meter drilled, that pulse gets stronger.

Conclusion

Axcap Ventures has done more than scratch the surface at Converse—it’s uncovered a deeper, richer layer of potential that shifts the narrative. From confirming a multi-million-ounce resource to drilling into new zones of high-grade gold, this maiden campaign has already outperformed the typical first-pass drill story. The results suggest that Converse isn’t just big—it might be getting better. And if the rest of the summer drill campaign builds on these early successes, we could be witnessing the birth of Nevada’s next great gold system.

Sources

Disclaimer

Juniorstocks.com is owned by Piccadilly Capital Group (“We” or “Us”) are not securities dealers or brokers, investment advisers or financial advisers, and you should not rely on the information herein as investment advice. Axcap Ventures Inc. made a one-time payment of three hundred thousand dollars to provide marketing services for a term of 3 months. This article is informational only and is solely for use by prospective investors in determining whether to seek additional information. This does not constitute an offer to sell or a solicitation of an offer to buy any securities. Examples that we provide of share price increases pertaining to a particular Issuer from one referenced date to another represent an arbitrarily chosen time period and are no indication whatsoever of future stock prices for that Issuer and are of no predictive value. Our stock profiles are intended to highlight certain companies for your further investigation; they are not stock recommendations or constitute an offer or sale of the referenced securities. The securities issued by the companies we profile should be considered high risk; if you do invest despite these warnings, you may lose your entire investment. Please do your own research before investing ,including reading the companies’ SEDAR+ and SEC filings, press releases, and risk disclosures. It is our policy that information contained in this profile was provided by the company, extracted from SEDAR+ and SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it.

Forward Looking Statements

This article contains forward-looking statements about Axcap Ventures Inc., which are identified by terms such as “anticipate”; “expect”; and “project”; These statements reflect current views regarding company performance, business goals, healthcare market expectations, and intellectual property development. The statements are based on current business and market expectations. However, they involve various risks and uncertainties, including potential delays, financial difficulties, and operational challenges. Additional risks include possible regulatory approval delays, market disruptions, personnel issues, and competitive pressures. Given these risks and uncertainties, actual results may differ significantly from what is described in the forward-looking statements. Readers should not place undue reliance on these statements, which are only valid as of the article’s publication date and we undertake no obligation to update.

Technical Information

The scientific and technical information in this article has been reviewed and approved by Blake Mclaughlin, PGeo. Vice President Exploration of Axcap, who is a “Qualified Person” as defined under National Instrument 43-101 - Standards of Disclosure for Minerals Projects.

Axcap Ventures

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