37 g/t Gold and 1,332 g/t Silver in Nevada
Summary by AI BETAClose X
LONDON BTC COMPANY LIMITED
37 g/t Gold and 1,332 g/t Silver in Nevada
London, New York, 18 June 2026 - London BTC Company Limited ("Company") (BTC: LSE, VINZF: OTCQB), the London Stock Exchange main market-listed company is pleased to announce that it has staked the Teep Gold-Silver Project (the "Project", "Teep Project" or "Teep") in Nevada, USA, as part of its US-focused gold hedge strategy.
David Lenigas, Chairman of the Company, stated; "This is a phenomenal gold and silver project that London BTC has been able to stake in Nevada. This new 2,190-acre gold and silver project, covering 106 mineral claims, sits in the +40 million gold ounce corridor on the Walker Trend between Reno and Las Vegas. We have already defined 11 high-priority areas of interest for vein-hosted mineralisation. Field observations by the Company's geologist confirm the presence of quartz-vein structures with significant surface expression within the project area and has the potential for real scale."
Hewie Rattray, CEO of London BTC, said "This Project marks the third project under the Company's US gold hedging strategy and adds to the previously announced Huntington-Whitman and Amonett-Frank projects, extending the Company's portfolio of US gold assets across Nevada's premier mining districts. Teep is a significant addition to our growing US gold portfolio, bringing high-grade gold and silver results, extensive historical workings and a substantial land position in one of Nevada's most prospective precious-metals corridors. It strengthens the scale and quality of our US gold strategy and gives London BTC another highly prospective project in a tier-one mining jurisdiction. We look forward to updating shareholders as further assays, mapping and additional project staking progress in the coming weeks."
Figure 1: Teep Project plan and historical workings, Tokop District, Esmeralda County, Nevada
Key Points
• Results from due diligence rock chip samples collected by Schiehallion Consulting in 2026 returned high-grade gold-silver results over some of the historical workings, including:
o BTCRK008, 36.90 g/t Au, 730.8 g/t Ag
o BTCRK005, 27.66 g/t Au, 1,332.5 g/t Ag
o BTCRK010, 16.36 g/t Au, 1,292.1 g/t Ag
o BTCRK009, 9.26 g/t Au, 403.2 g/t Ag
o BTCRK011, 4.78 g/t Au, 159.1 g/t Ag
o BTCRK002, 2.74 g/t Au, 83.0 g/t Ag
• Teep is the Company's third US gold project, staking 106 mineral claims covering 2,190 acres (8.86 km2) in the historic Esmeralda County, Nevada, a productive gold-silver province within Nevada's fertile Walker Lane trend.
• The Walker Lane trend is a major structural corridor stretching from Reno to Las Vegas, the trend hosts numerous major producers and has produced >40M oz Au17.
• Teep sits within the Walker Lane belt that hosts the historical producers Goldfield (3.9 Moz Au historic production1) and Tonopah (>1.88 Moz Au & 174 Moz Ag historic production)11 and lies approximately 35 miles (56.3 km) from AngloGold Ashanti's Bullfrog (2.5 Moz Au historic production) and Silicon-Merlin (15.7 Moz Au, M&I + I)2 Gold Projects.
• Gold-silver mineralisation is contained within vein-hosted stockwork quartz networks, typical of a low-sulphidation epithermal system, hosted in quartz monzonite cut by mafic/ultramafic intrusions, with abundant copper-oxide staining, vuggy/drusy quartz and minor sulphides.
• Historical workings include 7 shafts, 3 tunnels and 21 exploration prospect pits over 3.4 miles (5.5 km). Most of the development dates from the 1930s, following significant gold production in the local district12,13. Despite the prospectivity of the local mining districts, the region faced mass abandonment in 1942 following wartime closure of non-essential gold mines.5
• A review of government databases, technical literature and historical company reports identified anomalism from 1960's rock samples and a data review in 198414. Following this, there is no public record of modern or systematic exploration.
• While the immediate focus is development of vein-hosted Au-Ag, rock samples from 1960 indicate strong Cu/Pb/Zn/Mo/Ba anomalism14. This association is consistent with geochemical halos that can occur distal to porphyry-style systems, which are an established feature of the regional geology3,8,9.
• Further project staking in Nevada and Arizona is actively progressing through the Company's technical adviser, Schiehallion Consulting.
The Teep Gold-Silver project constitutes the third project under the Company's US gold strategy and adds to the previously announced Huntington-Whitman and Amonett-Frank projects in Northern Nevada. The Teep Project extends the Company's portfolio into a productive mining district within the prospective Walker Lane Trend. As shown in Figure 2 below, the three projects are strategically positioned across Nevada's premier gold provinces, each located close to established mining infrastructure, sealed highways and an experienced local workforce. This combination supports Nevada's consistent ranking as the world's leading mining jurisdiction (Fraser Institute, 2025).
The initial focus on Nevada, provides the Company with a stable regulatory environment and mining-friendly local jurisdictions with long-standing, productive mining districts. Nevada provides a transparent and consistent pathway to development for new mining projects and actively supports exploration across the state. This environment reduces permitting uncertainty and allows for a clear, predictable timeline for project advancement.
Figure 2: London BTC Company gold-silver project portfolio, State of Nevada
Teep is located in the Tokop Mining District of Esmeralda County, southern Nevada (Figure 3), the largest gold-producing state in the United States. The Project lies within the Walker Lane Tectonic Zone, a northwest-trending 40 - 100 km wide structural corridor that hosts several world-class epithermal and intrusion-related precious-metal systems. The Project sits 54 miles (87 km) southwest of Tonopah and 31 miles (50 km) south of the historic Goldfield district, and 224 miles (360 km) south of the Company's Huntington-Whitman and Amonett-Frank projects in northern Nevada (Figure 2).
 |
Figure 3: Teep Project regional setting, Walker Lane Trend, Esmeralda County, Nevada
Goldfield District, 31 miles (50 km) to the north, is one of the most productive gold districts in Nevada's history, with recorded production of approximately 3.9 Moz Au1. The historic town is now home to a high number of exploration companies actively exploring the region.
Tonopah District, 54 miles (87 km) to the northeast, is the celebrated "Queen of the Silver Camps", with historical production of the order of 174 Moz Ag and >1.88 Moz Au and remains the focus of active silver exploration by several junior companies today11.
Bullfrog & Silicon-Merlin, AngloGold Ashanti (NYSE: AU), 35 miles (56.3 km) to the south-east, is one of the most significant recent gold discoveries in the United States. On 31 December 2025 the Silicon-Merlin project published a measured and indicated + inferred resource of 15.7 Moz Au and 7.8 Moz Ag. AngloGold Ashanti has also attributed significant investment into the North Bullfrog Project. The Bullfrog deposit has historically produced over 2.5 Moz Au2.
Round Mountain Mine, Kinross Gold Corporation (NYSE: KGC), in Nye County to the north, is a long-life, large-tonnage open-pit and heap-leach gold operation. On 31 December 2025 the Round Mountain project published probable reserves of 1.89 Moz Au. Kinross added a significant upgraded quality of its Round Mountain reserve during 2025, emphasising the investment potential and the continued attractiveness of the region10.
Regional Endowment - Southern Nevada and Walker Lane Trend
The Project sits within a global tier-1 gold and silver producing region. Nevada accounts for the majority of United States gold output and consistently ranks among the top five gold-producing jurisdictions globally. The Walker Lane belt of southern Nevada hosts a dense cluster of historic producers and a new generation of major discoveries and exploration companies operating within trucking distance of Teep, providing a strong foundation of mining services, contractors, drilling providers, laboratories and toll infrastructure.
AngloGold Ashanti (NYSE: AU) is advancing the Arthur Gold Project (the Silicon and Merlin deposits) and the North Bullfrog Project in the Beatty District. Both are multi-million-ounce discoveries that has offered modern context to the prospectivity of the Walker Lane and attracted renewed company attention to both the Walker Lane trend and the local region.
Kinross Gold Corporation (NYSE: KGC) operates the long-running Round Mountain open-pit and heap-leach mine in Nye County and maintains an active investment and exploration presence across the region. Round Mountain demonstrates both the scale of gold endowment possible within this geological terrane and the economic advantages of heap-leach operations in Nevada.
Other proximal operators and explorers active in the Tonopah-Goldfield corridor include Centerra Gold (NYSE: CGAU), developing the Goldfield Project with 0.7 Moz Au (M&I + I)4 set to start production in 2028, Mammoth Minerals (ASX: M79), advancing their high-grade gold-silver Excelsior Springs project, Blackrock Silver (TSXV: BRC), exploring the high-grade Tonopah West silver-gold project; Summa Silver (TSXV: SSVR), exploring the Hughes Tonopah project; and Riley Gold (TSXV: RLYG), which holds the adjacent Tokop Gold Project in the same district. Together these companies form a concentrated cluster of precious-metals exploration and development activity around the Teep Project.
The board believes the combination of world-class regional endowment, a recent generation of major discoveries, the continued presence of established producers, and decades of accumulated mining, processing and services infrastructure provides a significant strategic advantage to the Company as it advances Teep and progresses further projects across Nevada and Arizona.
The Teep Project
Conducted as part of the Company's wider portfolio expansion strategy, the Company's geological consultant, Schiehallion Consulting, completed due diligence over the Teep Project in May 2026. A total of 16 rock chip samples were collected by a qualified geologist and submitted for photon assay analysis at MSALABS.
Sample highlights are provided below:
• BTCRK008, 36.90 g/t Au, 730.8 g/t Ag
• BTCRK005, 27.66 g/t Au, 1,332.5 g/t Ag
• BTCRK010, 16.36 g/t Au, 1,292.1 g/t Ag
• BTCRK009, 9.26 g/t Au, 403.2 g/t Ag
• BTCRK011, 4.78 g/t Au, 159.1 g/t Ag
• BTCRK002, 2.74 g/t Au, 83.0 g/t Ag
MSALABS dried, crushed and pulverised the samples, which were then separated into 500g jars. Utilising Chrysos Corporation's PhotonAssay™ method, results were obtained within days of submission. PhotonAssay™ holds a lower detection limit of 0.015 ppm. Samples were routinely submitted for Fire Assay as part of follow-up QA/QC to confirm the validity of high-grade results.
The Project is comprised of 106 unpatented mineral claims over 2,190 acres (8.86 km²) (Figure 1). The staked ground focuses on historically targeted stockwork quartz-vein networks. The networks are targeted by 7 shafts, 3 adits and 21 prospect pits. These historical workings define 11 areas of interest hosting potential vein networks over a 3.4-mile (5.5 km) trend. Mineral claims have been staked by Convergent Mining and lodged with the Bureau of Land Management, in line with the Company's low-cost high-quality staking strategy in a tier-1 jurisdiction.
Due to the regional mass abandonment of gold mines in 1942, abandoned historical workings from the exploration to production stage within Goldpoint region are common. A review was conducted of government databases, technical literature and historical company reports identified limited follow-up exploration since the 1930s.
|
Block |
Type |
Acres |
Claims |
Historical Workings |
|
Teep |
Project |
2,190 (8.86 km2) |
106 |
7 shafts, 3 adits and 21 prospect pits |
Table 1: Summary of Teep claim information and historical workings
The project covers stockwork quartz veins within the Sylvania Pluton quartz monzonite, which is cut by mafic to ultramafic intrusives. USGS deposit records indicate that tabular vein-hosted orebodies were defined by historical explorers, these veins strike north-north-east and dip to the south-east14. The veins of interest display vuggy textures with euhedral to subhedral crystals, combined with Cu/Fe/Mn-staining and drusy to chalcedonic silica coatings. Quartz breccia zones are historically reported across the project, though these are still to be observed by the Company. Alteration includes chlorite, epidote and sericite with minor galena and pyrite association with vein networks.
The exploration that was completed over the region includes a 1960s rock chip campaign, which identified anomalous Cu/Pb/Zn/Mo/Ba, which fits the distal footprint of a porphyry system. Immediate follow-up work will focus on both the extent of mineralised quartz veins over the project but also investigate the potential of a magmatic mineralising system at depth.
The full strike, grade and extent of quartz networks/breccias are not yet understood. Early investigation of areas of interest (Figure 1) allows the Company to define early drill-ready targets and rapidly obtain an economic understanding of the Teep Project.
 |
Figure 4: Teep Project, Consultant Geologist sampling the shafts around the Eastern Vein Network
Forward Work Programme:
• Comprehensive rock-chip sampling of all identified historical working clusters across the Teep Project.
• Geological mapping to define the structural setting and strike continuity of the mineralised quartz-vein system.
• Compilation of geoscientific data to assist in the understanding of the local geology and structural setting and to provide drill-ready targets.
• Progression of further gold and silver project staking in Nevada and Arizona, in line with the Company's previously announced phased strategy.
Issue of ordinary shares for consultancy related to Nevada staking activity:
The Company has agreed to issue new ordinary shares with an aggregate value of £40,000 in satisfaction of contractor fees relating to the on-the-ground work undertaken in Nevada in connection with the claim staking and geological assessment of this mineral claim package and Amonett-Frank (announced last week). A further announcement will be made upon the issue of these shares.
For further information please contact:
|
London BTC Company Limited |
Hewie Rattray, CEO hewie@ldnbtc.com David Lenigas, david@ldnbtc.com Rob Scott, Finance Director, rob@ldnbtc.com Jeremy Edelman, jeremy@ldnbtc.com |
|
First Sentinel (Corporate Adviser) |
Brian Stockbridge / Gabrielle Cordeiro / Ahmed Iqbal brian@first-sentinel.com gabrielle@first-sentinel.com ahmed.iqbal@first-sentinel.com T: +44 (0) 20 3855 5551 |
|
Clear Capital Markets (Broker) |
Bob Roberts bobroberts@clear-cm.co.uk T: +44 (0) 20 3869 6080 |
|
Marex Financial (Joint Broker and Advisor) |
Angelo Sofocleous / Matt Bailey (Broking) Email: corporate@marex.com T: +44 (0) 207 655 6000 |
About London BTC Company Limited
The Company's primary listing is on the London Stock Exchange (United Kingdom) under the ticker "BTC.L" and it trades in the USA on the OTCQB under the ticker "VINZF". The Company is building up a strategic Bitcoin holding through acquiring Bitcoin as a treasury and currency management tool and through adding Bitcoin generated from its mining operations in North America. The Company currently operates Bitcoin miners hosted across multiple third-party facilities in Indiana, Iowa, Nebraska and Texas (USA) and Labrador (Canada). As part of its hedging strategy, the Company has begun building a portfolio of US gold assets in the Tier 1 gold jurisdiction of Nevada, to complement its core Bitcoin treasury and mining operations, thereby providing shareholders with exposure to two scarce and globally recognised stores of value.
Cautionary Statement
This announcement contains references to historical production sourced from third-party reports, public databases, technical literature and government reports. These historical results have not been verified by the Company, are not reported in compliance with any current Mineral Resource or Ore Reserve code and should not be relied upon as indicative of the prospectivity of the Project or any future resource, reserve or production from the Project. While the alteration and mineralisation styles observed to date show similarities to systems in the region, this comparison is conceptual only. There is no assurance that mineralisation encountered at Teep will be comparable in scale, grade, or economic characteristics to other deposits in the district.
All of the samples discussed in this release are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone.
Competent Persons Statement
The information in this report that relates to exploration results and technical information is based on information compiled by Fionnlagh (Finn) Hunter, Principal Geological Consultant, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hunter consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
The directors of London BTC Company Limited accept responsibility for this announcement.
References
1. Albers, John P., and John H. Stewart. Geology and Mineral Deposits of Esmeralda County, Nevada. Nevada Bureau of Mines and Geology Bulletin 78. Reno: Nevada Bureau of Mines and Geology, Mackay School of Mines, University of Nevada, 1972.
2. AngloGold Ashanti. Mineral Resource and Mineral Reserve Report 2025. March 2026.
3. Ashley, Roger P. Preliminary Geologic Map of the Goldfield Mining District, Esmeralda and Nye Counties, Nevada. U.S. Geological Survey.
4. Centerra Gold Inc. "Centerra Gold Announces Attractive Economics on the Goldfield Project; Proceeding with Project Development and Construction Activities." Press release, August 6, 2025.
5. Craig, James R., and J. Donald Rimstidt. "Gold Production History of the United States." Ore Geology Reviews 13, no. 6 (1998): 407-464.
6. Dumala, Matthew R., Patrick Loury, Annaliese Miller, and Art Ibrado. Mineral Resource Estimate and NI 43-101 Technical Report. Prepared for Scorpio Gold by Archer Cathro Geological (US) Ltd., Daniel Kunz & Associates, Geosyntec Consultants, Inc., and Fort Lowell Consulting PLLC. Effective June 4, 2025; issued April 23, 2026.
7. Eng, T. "Geology and Mineralization of the Freedom Flats Gold Deposit, Borealis Mine, Mineral County." In Geology and Ore Deposits of the Great Basin, Symposium Proceedings, edited by G. L. Raines et al., vol. 2, 995-1019. Reno: Geological Society of Nevada, 1991.
8. John, David A. "Miocene and Early Pliocene Epithermal Gold-Silver Deposits in the Northern Great Basin, Western United States: Characteristics, Distribution, and Relationship to Magmatism." Economic Geology 96, no. 8 (2001): 1827-1853.
9. John, David A., Edward A. du Bray, Christopher D. Henry, and Peter G. Vikre. "Magmatism and Epithermal Gold-Silver Deposits of the Southern Ancestral Cascade Arc, Western Nevada and Eastern California." In New Concepts and Discoveries: 2015 Symposium, Reno/Sparks, Nevada, 35 p. Geological Society of Nevada, 2015.
10. Kinross Gold Corporation. Annual Information Form for the Year Ended December 31, 2025. Dated March 26, 2026. Filed with the U.S. Securities and Exchange Commission as Exhibit 99.1 to Form 40-F.
11. Long, Keith R., John H. DeYoung Jr., and Steve D. Ludington. Database of Significant Deposits of Gold, Silver, Copper, Lead, and Zinc in the United States; Part A, Database Description and Analysis; Part B, Digital Database. U.S. Geological Survey Open-File Report 98-206, 33 p. 1998.
12. Quade, Jack. Field Examination. Reno: Nevada Bureau of Mines and Geology, April 19, 1984.
13. Smith, and Bentz. Field Examination. Reno: Nevada Bureau of Mines and Geology, May 7, 1983.
14. U.S. Geological Survey, Mineral Resource Data System (MRDS), Teep Claims, deposit ID 10047152, 10047197,10173491,10047198 and 10047198
15. Dunne, Rowan. "Nevada Canyon Gold Secures Earn-In Exploration Deal in the Walker Lane Trend." Mugglehead Investment Magazine, February 3, 2025
16. Mammoth Minerals Limited. Corporate Presentation - May 2026. ASX: M79. May 2026
17. Barnett, Colin T., and Peter M. Williams. "Mineral Exploration Using Modern Data Mining Techniques." In Special Publication 12, 295-310. Society of Economic Geologists, 2006
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