Gold Assays Return up to 143.1 g/t in Nevada USA
Summary by AI BETAClose X
LONDON BTC COMPANY LIMITED
Outstanding Gold Assays Return up to 143.1 g/t in Nevada USA
New assays return 143.1 g/t Au - the highest gold grade to date across the Company's US portfolio, previous assay verification completed and additional US consultant appointed
Issue of Employee Benefits Trust Shares
London, New York, 05 August 2026 - London BTC Company Limited ("Company") (BTC: LSE, VINZF: OTCQB), the London Stock Exchange main market-listed company is pleased to announce new assay results received from its Amonett-Frank Gold-Silver Project (the "Project", "Amonett-Frank Project" or "Amonett-Frank") in Nevada, USA.
The Company also announces the completion of assay verification across its full US portfolio and the engagement of Dahrouge Geological Consulting ("Dahrouge") as its US-based consultant, significantly increasing exploration capacity.
"143 grams of gold per tonne is a truly exceptional grade at Amonett-Frank," said David Lenigas, the Company's Chairman. "Just as importantly, we have now put every one of our high-grade results through fire assay verification and have validated all of our previously announced high-grade results reported from our Nevada portfolio. This gives us real confidence in the quality of the ground we have secured thus far. Additionally, we have appointed Dahrouge to scale up our operations in the United States, as we swiftly move from staking into active exploration across the portfolio."
Key Points
· Further samples over Amonett-Frank have returned outstanding high-grade gold, across the Project:
o Amonett-Frank Project, BTCRK33, 143.1 g/t Au
o Amonett-Frank Project, BTCRK31, 12.62 g/t Au
o Amonett-Frank Project, BTCRK32, 1.22 g/t Au
· The peak result of 143.1 g/t Au (4.60 oz/t Au) is the highest gold grade returned to date across the Company's US gold portfolio. This sample was over-limit for fire assay; the value was obtained by QA/QC gravimetric finish, which delayed routine assay turnaround.
· The project sits 2.6 miles (4.2 km) from the Goldbanks Au resource, with an endowment of 2.56 Moz Au and 7.47 Moz Ag (Stone, 2010) (Kinross U.S., NYSE: KGC). Amonett-Frank shares the broader region with the Barrick-Newmont Nevada Gold Mines Joint Venture (NGM), which owns and operates six significant Au mines within the region.
· All PhotonAssay™ results across the Company's US projects were re-submitted for fire assay as part of the Company's QA/QC protocol. The fire assay results were comparable to the reported PhotonAssay™ results, confirming the validity of the reported grades.
· Assay verification of the PhotonAssay™ allows the Company to utilise this technique for routine analysis, reducing assay turnaround from 3 - 4 weeks to 3 - 5 days (MSALABS processing times for Fire & PhotonAssay™). This will allow the Company to provide stakeholders with rapid results across the portfolio, minimising time between operational execution and market release.
· Material differences were observed at the Teep project, with results below:
o Teep project, BTCRK08, 40.56 g/t Au (3.66 g/t Au upgrade)
o Teep project, BTCRK05, 31.40 g/t Au (3.74 g/t Au upgrade)
o Teep project, BTCRK09, 7.89 g/t Au (1.37 g/t Au downgrade)
· The Teep project is a high-grade gold-silver project along the Walker Lane trend within Esmeralda County, Nevada and has been prioritised for immediate follow-up work (See announcement dated 18 June 2026)
· Engagement of US-based group Dahrouge Geological Consulting to assist with groundwork, project management and technical assessment of projects. This significantly increases the Company's exploration capacity, enabling upscaling of ground operations, streamlining project management, and improving the prioritisation of targets across its US portfolio.
· Key next steps across the Amonett-Frank project include:
1. Modern surface sampling across the full interpreted strike of mineralisation.
2. Geological mapping to investigate the scale, extent and economic potential of structurally controlled epithermal mineralisation.
3. Progressing permitting work to advance towards active drilling.
CEO Commentary
Hewie Rattray, CEO of the Company, stated:
"This is a standout result for the Company. The 143.1 g/t gold assay is the highest grade recorded across our US portfolio and alongside previously reported high-grade results from separate workings, strengthens our confidence in the broader potential of Amonett-Frank.
With the assays now verified and Dahrouge appointed to expand our US exploration capacity, we are moving quickly to understand the scale of the mineralised system and advance the next phase of work across the Project."
The Amonett-Frank Project
The Amonett-Frank project was identified and staked as part of the Company's wider portfolio expansion strategy. The Company's geological consultant, Schiehallion Consulting, conducted fieldwork as part of a due diligence programme over the project in May 2026. Surface samples from this due diligence work have now reported assay results up to 143.1 g/t Au, prompting immediate follow-up fieldwork and technical assessment.
The Project comprises 18 unpatented mineral claims over 371.88 acres (1.5km2) (Figure 1). The staked ground follows the approximate strike of structurally controlled high-grade gold-silver mineralisation within the project. The strike is marked by 2 shafts, 2 adits and 7 prospect pits from historical workings. The current blocks allow for 1.5 km of untested strike potential. Immediate follow-up will focus on the historical workings and extending the strike potential through geological mapping and surface programmes.
Figure 1: Amonett-Frank Project Plan, Pershing County, Nevada - New assays in RED
|
Block |
Type |
Acres |
Claims |
Historical Workings |
|
Amonett-Frank |
Prospect |
371.88 |
18 |
2 shafts, 2 adits, 7 prospect pits |
Table 1: Summary of Amonett-Frank claim information and historical workings
Assay Results
The Company has received the final assay results from the due diligence rock chip sampling programme completed across Amonett-Frank by the Company's geological consultant, Schiehallion Consulting, in May 2026 (Figure 1).
These additional samples were submitted alongside a Fire Assay QA/QC of PhotonAssay™ results. The new samples returned high-grade gold mineralisation, including 143.1 g/t Au, 12.62 g/t Au, and 1.22 g/t Au (Table 2). These samples complete the due diligence programme for the Project; next steps will focus on understanding the scale, extent, and controls of mineralisation at the Project.
|
Sample ID |
Au (g/t) |
Prospect |
Sample Description |
|
BTCRK33 |
143.1 |
Central Working |
Copper oxide and metallic fragments within quartz vein network |
|
BTCRK31 |
12.62 |
Central Working |
Dark smoky quartz vein network |
|
BTCRK32 |
1.22 |
Central Working |
Silicified host rock with disseminated metallic fragments |
Table 2: New due diligence rock chip sample results, Amonett-Frank Project
The result of 143.1 g/t Au (4.60 oz/t Au) represents the highest gold grade returned to date across the Company's US gold portfolio and is consistent with the high-grade, structurally controlled mineralisation identified previously within the Project.
Together with the original due diligence sampling reporting results up to 52.66 g/t Au and 15.73 g/t Au, these results provide confidence in the consistency of previously identified high-grade mineralisation at the Project. This also provides the Company with high-grade gold results from multiple historical workings within Amonett-Frank, supporting the interpretation of a mineralised corridor extending along the identified trend. The next stage of exploration will focus on the full 1.5 km strike length of this vein network and on understanding the economic potential of Amonett-Frank.
Fire Assay Verification and QA/QC
Samples collected during the Company's due diligence programme were dried, crushed and pulverised by MSALABS and analysed using Chrysos Corporation's PhotonAssay™ method with a sample detection limit of 0.015 ppm.
As part of the Company's standard QA/QC protocol, all PhotonAssay™ results across the Company's US projects were re-submitted for conventional fire assay with AAS or gravimetric finish to verify the reported grades. While PhotonAssay™ is a new technique, it is a certified and compliant analytical method. The fire assay technique has a long history of providing accurate and reliable results and was run for internal confirmation of sample integrity.
Due to operational timing, the final Amonett-Frank samples were submitted with the fire assay batch. Delays were incurred as the Amonett-Frank samples were overlimit (>100 g/t Au), requiring two gravimetric runs for QA/QC; the final gravimetric QA/QC result reported 143.1 g/t Au for BTCRK33.
The fire assay results returned grades comparable to the corresponding PhotonAssay™ results; some material differences were observed at Teep (>10% change from PhotonAssay™ to Fire Assay) (Table 3), but overall, the PhotonAssay™ was found to be accurate and consistent. This provides a high degree of confidence in the analytical results previously reported to the market across its US portfolio. Regarding the difference, the sample descriptors include 'metallic fragments' (Table 2), and material differences across the two techniques suggest that coarse gold has affected the grade and variability observed in the results of Teep and Amonett-Frank.
This also provides confidence in the PhotonAssay™ technique, which will reduce assay turnaround from 3 - 4 weeks (Approximate Fire Assay turnaround) to 3-5 days (Approximate PhotonAssay™ turnaround). Utilising this new technique will allow the Company to provide stakeholders with rapid results and updates across the portfolio, minimising the time between operational execution and market release.
|
Sample ID |
PhotonAssay™ (Au g/t) |
Fire Assay (Au g/t) |
Change (Au g/t) |
Status |
Project |
|
BTCRK08 |
36.9 |
40.56 |
3.66 |
Upgrade |
Teep |
|
BTCRK05 |
27.66 |
31.40 |
3.74 |
Upgrade |
Teep |
|
BTCRK09 |
9.26 |
7.89 |
1.37 |
Downgrade |
Teep |
Table 3: Material differences observed (>10% change) from PhotonAssay™ to Fire Assay
Project Location
Figure 2: Amonett-Frank and Huntington-Whitman Project location, Nevada
The Amonett-Frank Project is in the Goldbanks Mining District of Pershing County, Nevada (Figure 2), the largest gold-producing state in the United States. Located approximately 31 miles (50km) south of Winnemucca within the Great Basin region, the project lies within a rapidly emerging gold province characterised by comparable mineral systems (epithermal-hot-springs Au/Ag) (Coolbaugh, 2011). The Project is proximal to Kinross U.S.'s Goldbanks project (Kinross U.S., NYSE: KGC), SSR Mining's long-running Marigold open-pit heap-leach mine and Nevada Gold Mines' Phoenix operation. The Project complements the Company's Huntington-Whitman Project to the north and extends the Company's Nevada footprint into a second productive district.
Goldbanks Au Project, a significant epithermal deposit in the immediate area, holds an endowment of 2.56 Moz Au and 7.47 Moz Ag with current Proven and Probable Mineral Reserves consisting of a total of 166 Mt @ 0.48 g/t Au (Stone, 2010), Kinross U.S., NYSE: KGC.
Marigold Gold Mine, continuous production since 1989, Marigold is a large run-of-mine heap leach operation. Probable Mineral Reserves consist of 2.98 Moz Au, with 174.8 Mt @ 0.47 g/t Au; an additional 0.346 Moz Au exists in leach pad inventory (SSR Mining, 2024). SSR also maintain active exploration in the region. SSR Mining, NASDAQ: SSRM.
Phoenix Gold Mine, one of six mines included in the major Nevada Gold Mines (NGM) Barrick / Newmont joint venture. Proven and Probable Mineral Reserves consist of 2 Moz Au with 110 Mt @ 0.58 g/t Au, and 0.23 Mt Cu with 130 Mt @ 0.18% Cu (Barrick, 2025).
Project Geology
Amonett-Frank covers a strike of historical high-grade gold-silver workings developed on a set of epithermal hot-spring Au/Ag quartz veins and breccias. Each vein is up to 4 feet (1.2 m) wide and has been traced over several hundred metres (Johnson, 1977). The country rock is the Late Permian Golconda Terrane, comprising carbonates, basinal sediments, volcanics, and terrigenous clastic rocks. The USGS historically classified the occurrence as a hot-spring Au-Ag system (USGS deposit model 25a), an interpretation supported by recent due diligence observations by a qualified geologist. The Company considers this mineral system a compelling exploration target, as it is associated with significant precious-metal deposits across the Great Basin (Coolbaugh, 2011).
The deposit was discovered in 1933, with the first recorded production in 1935, when an unknown volume of gold ore was shipped from the property (Vanderburg, 1936). Documented workings comprise two shafts to approximately 80 feet (24 m) depth, short tunnels (adits) and lateral workings developed across the epithermal veins.
The Company's field review identified the structural trend described in the literature and confirmed the locations of historically recorded shafts, adits, and prospect pits, all of which are consistent with the historically reported mining activity (Vanderburg, 1936). The absence of any on-site processing facility, combined with historical accounts of ore being trucked from the property, is interpreted to suggest selective sampling of gold ore that would meet the economic standards of the 1930s.
This selective sampling, high historical cut-off grade, and very limited shallow exploration have left significant exploration gaps. Early results provide evidence of high-grade mineralisation at surface across several historical workings; further workings have yet to be sampled, and the full strike of mineralisation is not yet understood. Investigating the full extent of the mineralised corridor at Amonett-Frank positions the Company to deliver early drill-ready targets and to define this potentially economic system.
Figure 3: Amonett-Frank Project, location of central prospect marked by a ferric-manganiferous quartz breccia zone, several quartz networks and two historical mine shafts
Appointment of US Technical Consultant
The Company has engaged Dahrouge Geological Consulting to work alongside Schiehallion Consulting on technical assessment, field operations and project management across its US portfolio. Dahrouge is an established North American geological consultancy with its US office in Denver, Colorado, relevant for the Company's operations in Nevada and Arizona. Schiehallion Consulting continues as the Company's technical adviser working alongside Dahrouge.
The engagement is intended to significantly increase the Company's exploration capacity and provide in-country operational capability and direct experience of US permitting processes. It is intended to enable the Company to establish additional field crews and run multiple field programmes across its existing projects, while continuing to stake new ground and develop its project pipeline. This will also support an effective and efficient exploration process without operational strain.
Dahrouge will also assist with technical assessments of the Company's existing projects and advisory support on the federal and state permitting required to advance each project towards drill testing.
Forward Work Programme
Follow-up work at the Amonett-Frank project will include:
• Comprehensive rock-chip sampling of all identified historical workings within the Amonett-Frank Project.
• Geological mapping and further surface sampling to investigate the possible extension of structurally controlled epithermal mineralisation.
• Compilation of geoscientific data to assist in the understanding of the local geology and structural setting to provide drill-ready targets.
Follow-up work at the US portfolio scale will include:
• Working with Dahrouge to develop the technical understanding of existing projects and define next steps, with a focus on preparing targets for imminent fieldwork.
• Mobilisation of field teams on existing gold projects to commence their respective work programmes.
• Progression of further gold project staking in Nevada and Arizona, in line with the Company's previously announced phased strategy.
 |
Figure 4: London BTC Company gold-silver project portfolio, State of Nevada
Further Staking and Portfolio Expansion
Schiehallion Consulting continues to actively advance the identification, evaluation and staking of additional prospective gold projects across Nevada and Arizona, with the intention of building a portfolio of high-quality, complementary assets.
The Company will provide further updates as additional projects are secured.
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.
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.
PhotonAssay™ and fire assay are different analytical techniques and results obtained by the two methods are not directly equivalent. Comparisons between the two methods presented in this announcement are provided for verification purposes only.
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.
Issue of Shares
In addition, the Company announces that, as set out in the Company's prospectus dated 24 December 2024 ("Prospectus"), it had established the Vinanz Limited Employee Benefit Trust ("EBT"). The Company intends to allot and issue 72,792,806 new ordinary shares in the Company to the EBT ("EBT Shares") at nominal value (representing 16.67% of the enlarged issued share capital of the Company). These ordinary shares shall be held in the EBT on trust pending transfer to beneficiaries upon the vesting (or exercise, as the case may be) of awards granted, and for such other purposes relating to the ongoing recruitment, retention and incentivisation of employees as may be recommended by the Company from time to time (subject to the approval of the Remuneration Committee and the trustees of the EBT). Further to disclosures in the Company's Prospectus, the beneficiaries of any future distribution of EBT Shares to employees and directors will be notified upon award.
Application will be made to the London Stock Exchange ("LSE") for admission of the EBT Shares to trading on the Main Market ("Admission"). It is expected that Admission will become effective and dealings in the EBT Shares will commence on the LSE at 8.00 a.m. on or around 11 August 2026. The EBT Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.
Following Admission, the total number of Ordinary Shares in the capital of the Company will be 436,756,839 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.
The directors of London BTC Company Limited accept responsibility for this announcement.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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 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.
References
• Barrick Gold Corporation, 2025, Mineral reserves and resources: Barrick Gold Corporation, accessed June 9, 2026, at https://www.barrick.com/English/operations/mineral-reserves-and-resources/default.aspx.
• Barrick Gold Corporation, 2025, Full year and fourth quarter 2025 results: Barrick Gold Corporation, news release, February 5, 2026.
• Coolbaugh, M.F., Vikre, P., and Faulds, J., 2011, Young (<7 Ma) gold deposits and active geothermal systems of the Great Basin-Enigmas, questions, and exploration potential, in Great Basin Evolution and Metallogeny: Geological Society of Nevada Symposium 2010, Reno, NV, May 14-22, 2010, p. 845-859.
• Johnson, M.G., 1977, Geology and mineral deposits of Pershing County, Nevada: Nevada Bureau of Mines and Geology Bulletin 89, 121 p.
• SSR International Corporation, 2024, Technical report summary on the Marigold Complex, Nevada, USA (S-K 1300 report): report prepared for SSR Mining Inc., SLR Project No. 138.21581.00002, effective date September 30, 2023, 268 p.
• Stone, B., 2010, The Goldbanks deposit-a recent discovery of disseminated gold in Tertiary volcaniclastics, Pershing County, Nevada: Kinross Gold USA Inc., Pershing County, Nevada.
• Vanderburg, W.O., 1936, Reconnaissance of mining districts in Pershing County, Nevada: U.S. Bureau of Mines Information Circular 6902
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