Technical Study
Roxmore Resources Initiates Major Infill and Extensional Drilling Program at Converse Gold Project
Roxmore Resources Executes Drilling Plan Amidst Valuation Run-Up
Executive Summary
- Date: April 13, 2026
- Event: Initiation of a 30,000m infill and extensional drilling program at the Converse Gold Project.
- Scope: Phase 1 (15,000m) is underway; total planned 30,000m to support an upcoming Preliminary Economic Assessment (PEA) and Prefeasibility Study (PFS).
- Results: Early intercept from hole CV25-005C returned 25.0m @ 0.96 g/t Au (including 10.8m @ 1.70 g/t Au).
- Operations: New RC drill rig added; Sunstone Environmental Solutions engaged for permitting; water well drilling commenced for hydrological studies.
- Infrastructure: New core warehouse and office facility commissioned in Winnemucca, NV.
- Catalysts: Q2 2026 PEA release; Q3 2026 silver re-assay results.
Material Impact
- Execution Confirmation: The drilling program was explicitly funded by the C$32.64M private placement closed in March 2026. This news confirms capital deployment is proceeding as planned rather than revealing new discovery potential.
- Grade Expectations: Early intercepts (0.96 g/t Au) are consistent with oxide mineralization expectations but do not represent a significant grade upgrade that would materially alter the resource model immediately.
- Market Context: The stock price has appreciated from C$2.40 (financing price in Feb/March) to C$4.71 (April 10 close). This represents a ~96% gain prior to this operational update, suggesting much of the "execution risk" reduction is already priced in.
- Risk Mitigation: The news reduces execution risk by confirming active drilling and permitting engagement, but does not de-risk the PEA economic outcomes which remain pending.
RM · Price
Company Overview
- Overview: Roxmore Resources Inc. (formerly Axcap Ventures Inc.) is a gold development company focused on the Converse Gold Project in Nevada. The company underwent a reverse split (10:1) and name change in November 2025 following the acquisition of Taura Gold Inc.
- Flagship Project: Converse Gold Project, Humboldt County, Nevada.
- Resource Estimate: ~5.9 Moz Au total (5.57 Moz M&I @ 0.52 g/t; 0.42 Moz Inferred @ 0.53 g/t) as per March 2026 analyst coverage.
- Status: Pre-PEA / Pre-PFS.
- Other Assets: Rattlesnake Hills Gold Project (Wyoming), Newton Gold Project, Gulliver River Project.
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