Axcap Ventures is an investment company with a primary objective of identifying promising growth investments, focusing on acquiring gold projects in North America.
Pulse 2.0 interviewed Axcap Ventures exec Blake McLaughlin to gain a deeper understanding of the company.
Notable Moment
What’s one notable moment in your career that makes you feel prepared to deliver on the multi-asset strategy Axcap Ventures has in place? McLaughlin said:
“Easy. It’s not just one specific moment that’s prepared me to deliver on this strategy, it’s the collection of experiences that I’ve had throughout my decade-long career. But if I have to get specific then I would say my time at Argonaut Gold. Today, Argonaut Gold is owned by Alamos Gold. As former Chief Geologist of Argonaut, I designed and led the exploration strategy that led its Magino Mine to commercial production in 2023. Having overseen the full exploration pipeline and de-risking such a complex project – which I saw all the way through from early stage to an operating mine – it gave me the opportunity to apply my skills as a geologist and left me with a deep appreciation for being able to balance technical upside with practical execution.”
“Now as VP of Exploration, I draw on over a decade of cross-disciplinary experience in geology and geophysics and take a data-driven, science-first approach to identifying, evaluating, and advancing high-potential assets across Axcap’s portfolio of assets.”
Multi-Asset Portfolio
Not all juniors have enough capital to support a multi-asset portfolio approach. In fact this is more common among majors and mid-tiers. Why does Axcap believe this is a good route to take as a junior? McLaughlin shared:
“There are several advantages to building out a multi-asset portfolio. To put it simply, instead of placing capital behind just a single project – the classic ‘high-risk, high-reward’ model — multi-asset explorers can advance multiple opportunities at once. This spreads risk while increasing the number of shots at a discovery.”
“Exploration is where the real value is created in the mining life cycle. A discovery can be transformational for a junior company and its shareholders, with potential to deliver outsized returns.”
“Major producers constantly need to replace reserves as their mines deplete. Rather than spend years making new discoveries themselves, it is often faster (and less risky) for them to acquire a junior that has done so, which is exactly why investors are drawn to multi-asset explorers: more targets, more catalysts, and more potential paths to value creation.”
“At Axcap, our portfolio includes 3 high-potential assets located in some of the world’s most favorable and prolific mining districts. These assets are strategically located across tier-one jurisdictions in the US and Canada and focus on gold systems that we believe have been overlooked — not because of geology, but due to a lack of sustained drilling.“
Gold Projects
Where specifically are Axcap’s gold projects located? McLaughlin noted:
“Axcap currently has three projects across the US and Canada in Nevada, Wyoming and in British Columbia.”
“Our flagship project – Converse – is situated in the prolific Battle Mountain Trend in the state of Nevada. It holds a ~6M oz AU deposit, the only in the state not owned by a Major. It is also believed to be one of the largest undeveloped gold assets in the region.”
“Nevada accounts for more than 75% of the gold produced in the US. In fact, If Nevada was a country it would be the 5th largest gold producer globally. It goes in this order: China, Australia, Russia, Canada, followed by the State of Nevada. It’s a great time for Nevada gold projects given the Trump administration’s recent changes to the EO and FAST‑41 fast‑track process which could greatly accelerate exploration and development projects within the state.”
“In Central Wyoming we have our RattleSnake Gold Project. It’s situated within the
RattleSnake Hills gold district and consists of 1573 unpatented lode mining claims and 8 Wyoming state mining leases covering 34,000 acres. Our recent maiden resource estimate confirms about 1.04 M oz AU and the area has a similar setting to Cripple Creek, Colorado.”
“We recently acquired the Newton Gold Project in BC, Canada which has 62 claims. Newtown is a bulk tonnage low-to-intermediate epithermal gold/silver deposit with analogous features to the BruceJack, Blackwater and Prosperity Deposits.”
Jurisdictional Due Diligence
Is jurisdictional due diligence considered in your approach to acquiring assets? Why did you choose the jurisdictions you did? McLaughlin pointed out:
“Absolutely. Jurisdiction is a core pillar of our due diligence process. Exploration success is not just about geology; it’s also about having the right operating environment to advance projects efficiently and responsibly.”
“That’s why we deliberately focus on tier-one jurisdictions like Canada and the United States. These regions offer strong rule of law, access to infrastructure, and clear permitting regimes, all of which reduce execution risk and protect long-term value.”
“Within these regions, we have targeted gold assets that we believe have been overlooked, not because of geological limitations, but because previous operators lacked the capital or scale to unlock them. By staying disciplined on jurisdiction and combining it with a strong technical view, we’ve been able to build a portfolio that balances upside potential with real-world deliverability.”
Gold Demand
Let’s discuss gold demand. What’s going on there? Who’s driving it? McLaughlin revealed:
“Gold is up more than 90% since 2020.”
“The near doubling of gold has been driven almost entirely by central banks with little to no retail interest in the space. As of June 2025, China has been on an 8-month buying spree and trends suggest that overall central bank gold buying this year could surpass previous full-year totals. If retail investor portfolio allocations in precious metals increased by 1-2% globally it would massively impact the gold price.”
Movement Of Gold
What’s going on in the world right now in relation to the movement of gold? Is it still just a safe haven or have we seen its role change recently? McLaughlin emphasized:
“The US is running structural deficits of $2T a year which is just not sustainable. The only two realistic outcomes are inflation or currency debasement.”
“Bonds, which have traditionally been the go-to for safe returns, are now something different.”
“Their safe return is being eroded in real terms and their price is increasingly vulnerable to the Fed’s potential manipulation. With the debt continuing to grow and the interest payments chewing a substantial hole in annual budgets, the long-term viability of bonds as a safety allocation is at risk.”
“Gold has 5000 years of credibility in crises. Bitcoin has 15 years and a growing role in digital wealth preservation. Both have scarcity, and scarcity thrives when trust in fiat weakens.”
“Based on historical data of the past 20 years and according to the World Gold Council, the optimal allocation to gold rests between 5% and 8%. Gold may not offer the outsized return potential of private investments but the metal holds a set of attributes that are increasingly hard to ignore: it’s a shock absorber, a source of liquidity, and a and a diversification asset. Today gold is not only a hedge against risk but an investment asset.“
Thematic Shifts
When it comes to mining, what sort of big thematic shifts have occurred that you consider essential? McLaughlin concluded:
“Well the great thing is there has never been a time like the current one where governments are acting and supporting the move toward more domestic mining.”
“We need domestic mining. We’re good at it. We have the resources to do it and it can be done in a really sustainable way, that creates a lot of wealth and provides something that’s critical to humanity. After all, if it can’t be grown, it can be mined.
We need to keep building mines, and I’m optimistic that we’re going to be able to meet future demands, without making real sacrifices to any stakeholders involved.”
