London BTC Company (LSE:BTC) reported a peak gold assay of 143.1 g/t at its Amonett-Frank project in Nevada, the highest grade recorded across the company's US portfolio to date.
The Pershing County-focused explorer said the result, equivalent to 4.60 ounces per tonne, was confirmed through fire assay after the original PhotonAssay result exceeded the technique's detection limit, requiring a gravimetric finish that delayed turnaround.
"143 grams of gold per tonne is a truly exceptional grade at Amonett-Frank," said David Lenigas, the company's chairman, adding that verification of all previously reported high-grade results across the Nevada portfolio "gives us real confidence in the quality of the ground we have secured thus far."
Two further Amonett-Frank samples returned 12.62 g/t and 1.22 g/t gold, while re-testing at the company's Teep project in Esmeralda County showed upgrades to 40.56 g/t and 31.40 g/t but a downgrade to 7.89 g/t, differences the company attributed to coarse gold affecting grade variability between assay methods.
Amonett-Frank sits 2.6 miles from Kinross Gold's Goldbanks resource, which holds an endowment of 2.56 million ounces of gold, and shares the wider district with Barrick and Newmont's Nevada Gold Mines joint venture.
London BTC also appointed Denver-based Dahrouge Geological Consulting to work alongside existing adviser Schiehallion Consulting, a move it said would expand field capacity as it shifts from staking claims to active exploration across Nevada and Arizona.
Next steps at Amonett-Frank include mapping and sampling across its full 1.5 km of untested strike length, chief executive Hewie Rattray said.
News Intelligence what this means for the company
London BTC confirmed a peak assay of 143.1 g/t gold at Amonett-Frank in Nevada—its highest grade across its US portfolio—after fire assay verification of an initial result that exceeded PhotonAssay detection limits. The company is now scaling exploration with a second geological adviser (Dahrouge Consulting) and plans to test 1.5 km of untested strike length at the project, which sits 2.6 miles from Kinross Gold's Goldbanks resource (2.56 million ounces). This advance follows reconnaissance sampling reported in June that returned a PhotonAssay of 52.66 g/t Au at Amonett-Frank, and signals a shift from claim-staking to active field work across Nevada and Arizona.
- Amonett-Frank's proximity to Kinross Gold's Goldbanks and the Nevada Gold Mines joint venture (Barrick and Newmont) may improve the project's attractiveness for future partnerships or acquisition, though no such discussions are mentioned.
- Expansion of field capacity via Dahrouge Consulting suggests London BTC is committing capital to accelerate exploration; the company intends to channel any profits from gold activities back into expanding Bitcoin mining operations and increasing treasury Bitcoin holdings, so exploration pace will depend on funding availability.
The 143.1 g/t result validates the quality of London BTC's Nevada ground and de-risks earlier high-grade reconnaissance findings through independent verification. However, the company remains in early-stage exploration with no resource estimate, mining permit, or production timeline; the investment case hinges on whether these grades translate to an economic deposit and whether gold proceeds can materially fund the core Bitcoin mining and treasury strategy.
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