London BTC Company Ltd (LSE:BTC, OTCQB:VINZF) announced it has staked a second US gold project after initial sampling at Amonett-Frank in Nevada returned grades as high as 52.66 grams per tonne gold and 88.3 grams per tonne silver.
The London-listed Bitcoin mining and treasury company said its wholly owned US subsidiary, Tethered Gold LLC, had staked 18 mineral claims covering 371.88 acres, or 1.5 square kilometres, in Pershing County.
Amonett-Frank sits in the historic Goldbanks Mining District, around 31 miles south of Winnemucca and 50 miles south of London BTC’s recently staked Huntington-Whitman project.
Initial due diligence rock-chip sampling carried out by Schiehallion Consulting also returned 15.73 g/t gold and 49.3 g/t silver from a second sample, while additional assays are pending.
Chairman David Lenigas said the results offered “encouraging early indicators” as the company builds out its US gold hedge strategy.
The project includes historical workings comprising two shafts, two adits and seven prospect pits, with London BTC saying there is no public record of exploration past 1935.
Chief executive Hewie Rattray said Amonett-Frank combines “exceptional high surface grades, historical production, a lack of meaningful modern exploration and a location within one of the world’s premier mining jurisdictions”.
Next steps include surface sampling across historical workings, geological mapping, permitting work towards drilling, and further staking activity in Nevada and Arizona.
