London BTC Company (LSE:BTC) said its Teep gold project in Nevada now shows mineralisation extending 3.5 kilometres along a 5.5 kilometre trend of historical workings.
The Walker Lane Trend explorer, which holds 106 unpatented mineral claims covering 2,190 acres in southern Nevada, has collected 78 rock chip samples from seven clusters of historical workings, with 2 kilometres of the trend yet to be sampled.
At the Eastern Vein Network, source of the company's previously reported high-grade hit of 40.56 g/t gold and 1,332.5 g/t silver, mineralisation has now been traced 750 metres along strike, with multiple shafts and adits developed along the trend.
"The current on-ground teams have found more mineralisation than previously anticipated by our exploration teams", said David Lenigas, London BTC's chairman.
The samples are being processed by MSALABS in Nevada using PhotonAssay technology for gold and silver, to be followed by four-acid digest testing for copper, antimony and tungsten to assess porphyry potential.
Gold and silver results are expected in late September, with multi-element results, including antimony and tungsten, due in late October.
Dahrouge Geological Consulting will then conduct a structural and alteration assessment in October, covering the remaining 2 kilometres of unsampled workings at Teep.
News Intelligence what this means for the company
London BTC has extended confirmed mineralisation at its Teep gold project to 3.5 km along a 5.5 km trend of historical workings, with 78 rock chip samples collected from seven clusters and 2 km still unsampled. The Eastern Vein Network, source of previously reported 40.56 g/t gold and 1,332.5 g/t silver, now shows mineralisation traced 750 metres along strike. Gold and silver assay results are due in late September, with multi-element results in late October—a systematic expansion of sampling that advances the company's early September field exploration start at Teep, but remains at the reconnaissance stage pending results.
The extension of mineralisation across a longer strike length and the discovery of more workings than anticipated strengthen the Teep prospect's scale, but the investment case remains dependent on assay results and the company's stated intention to channel any gold profits back into Bitcoin mining and treasury accumulation—a hedge strategy whose value hinges on both gold grades and Bitcoin's price trajectory.
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