London BTC Company (LSE:BTC) announced assays from its maiden exploration programme at the Teep project in Nevada have returned a peak grade of 104.99 g/t gold, the highest result recorded at the site to date.
The Bitcoin-mining and treasury company, which is building a capital-light US gold and critical-minerals exploration portfolio alongside its core digital-asset business, said the result came from one of 78 rock-chip samples analysed by PhotonAssay at MSALABS, with 37 samples returning above 0.5 g/t gold and nine above 10 g/t.
The 104.99 g/t hit, from sample TPRK063, equates to 3.38 ounces of gold per tonne and exceeds the previous Teep high of 40.56 g/t gold from fire assay during initial sampling at the Eastern Vein Network.
Other standout results included 80.41 g/t gold at TPRK042, 73.36 g/t at TPRK052 and 68.97 g/t at TPRK040, with high-grade silver also recorded, including 456.2 g/t at TPRK063.
"These are encouraging results from our first systematic programme at Teep," said Hewie Rattray, chief executive of London BTC.
"Nine samples above 10 g/t gold, including one sample at 104.99 g/t, together with high-grade results from multiple areas across the sampled 3.5km trend, strengthen our confidence in the exploration potential of the project," he said.
The Teep project covers 106 unpatented mineral claims totalling 2,190 acres in Esmeralda County's Walker Lane Trend, staked over historical workings that define 12 areas of interest across a 5.5km trend, most of which had not been sampled before this programme.
The company said gold mineralisation was found in all five clusters of historical workings sampled, from the Eastern Vein Network, the source of earlier due-diligence results, to the Central Veins 3.5km to the west, supporting its view of a mineralised trend rather than a single high-grade occurrence.
The programme also identified a previously unrecorded small-scale historical mine with multiple shafts.
David Lenigas, London BTC's chairman, said the project was staked on the strength of a few high-grade samples from a single network and has since returned high-grade gold from every cluster sampled across 3.5km of the trend.
"These results validate our decision to secure Teep, and they show the gold potential here extends beyond where we started," he said.
Multi-element results for antimony, tungsten and porphyry pathfinder elements from the Teep samples are still pending, alongside a geological assessment by Dahrouge Geological Consulting covering the remaining 2km of unsampled trend.
A further 206 rock-chip samples from the company's other Nevada projects, Huntington-Whitman (85 samples), Black Star (69 samples) and Amonett-Frank (52 samples), are with the laboratory, with results to follow subject to quality-control and Competent Person review.