London BTC's Nevada Project Yields High-Grade Gold Discovery
London BTC Company Ltd (LSE:BTC, OTCQB:VINZF) reported a significant gold discovery at its Amonett-Frank project in Nevada. The company's rock chip sample grading 143.1 grams of gold per tonne is the highest grade returned so far across its US portfolio.
The samples were taken from two historical shafts, two adits and seven prospect pits on the 372-acre site. Gold was first discovered on the ground in 1933, with ore trucked from the site two years later, indicating that only the richest material was extracted at the time.
London BTC's chairman, David Lenigas, has been building a gold exploration business alongside its bitcoin mining operations. The company is now moving quickly to establish the scale of the mineralised system, with Hewie Rattray, chief executive, stating 'We are moving quickly to establish the scale of the mineralised system.'
The results have prompted a 10% jump in shares, which currently trade at 1.6p.