Vancouver-based Axcap Ventures (CSE: AXCP; OTCID: GARLF) has begun work on a preliminary economic assessment (PEA) for its 100%-owned Converse gold project in Nevada. The Converse gold project is the largest undeveloped gold deposit not owned by a major mining company in Nevada. This marks the first comprehensive study on Converse in over ten years, advancing efforts to unlock value from one of the largest undeveloped gold deposits in the U.S.
The scope of the PEA includes updating resource modeling and optimizing the mine plan. It also involves analyzing heap leach recovery and metallurgical trade-offs. Additionally, the assessment will perform economic modeling under different gold price scenarios.
The Converse project hosts a mineral resource of 330 million tonnes at 0.53 g/t gold (measured and indicated), containing 5.57 million ounces, with an additional inferred resource of 25 million tonnes at the same grade, totaling 420,000 ounces. Metallurgical data shows an average heap leach recovery of 77% for oxide, 62% for transition, and 50% for sulphide material.
Mario Vetro, chair of Axcap, stated: “Converse is already among the largest resources in the state and country, located in an established mining region (Battle Mountain Trend, NV) with access to services and labor. We look forward to evaluating the economics of this large, growing resource in the current >$3,000/oz gold market and demonstrating that Axcap is undervalued relative to its potential.”
The PEA aims to demonstrate the project’s significant value and serve as a basis for further studies, permitting, and partnerships.
For more, visit www.AxcapVentures.ca.
