Frequently asked questions
This FAQ answers 44 common questions about the Basin Gulch project, from historical drilling and gold and silver grades to land, the maiden resource plan and mineral exploration basics.
Answers use facts reported by Lannister Mining, which publishes this site. Where a question needs general industry background, the answer says so. For the full story, start with the Basin Gulch project overview.
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The Basin Gulch project is a gold and silver exploration property in west-central Montana explored by Lannister Mining. More than 320 historical drill holes have tested its near-surface, oxide-hosted mineralization, and the company plans further exploration and development work toward a maiden mineral resource estimate.
Lannister Mining, a mineral exploration company focused on the Basin Gulch property, is exploring it. The company describes itself as a Montana-based gold and silver developer, and its team includes many of the same co-founders or senior executives as K92 Mining, Fosterville South Exploration, Arena Minerals and Thesis Gold.
Basin Gulch is in west-central Montana, in the historic Philipsburg Mining District. The property has year-round access from Philipsburg on paved and well-maintained gravel roads and is about one hour from Butte. According to Lannister Mining, the Philipsburg district led the original US silver boom in the late 1800s.
Gold and silver are the focus at Basin Gulch. Historical drilling reported gold intercepts, and trench sampling reported both gold and silver grades, such as 4 g/t gold and 23 g/t silver over 146 meters. Lannister Mining describes the target as near-surface, oxide-hosted gold-silver mineralization.
No. Basin Gulch is an exploration-stage project, not a producing mine. Lannister Mining notes the property has seen significant historical work but has not been mined out. The current plan is further exploration and development aimed at a maiden mineral resource estimate, which comes before any mining study.
Basin Gulch combines a large historical drill database, near-surface oxide mineralization and a US location in a long-established mining district. Lannister Mining states that US-based companies with compliant resources trade at a significant premium to their peers, which is why a maiden resource estimate is the central milestone.
More than 320 historical drill holes have been completed at Basin Gulch. Those holes explored the near-surface mineralization and form the base data set that Lannister Mining plans to use, together with new work programs, toward a future maiden mineral resource estimate for the property.
Highlight historical intersections reported by Lannister Mining include 1.8 g/t gold over 162 meters from surface, 0.66 g/t gold over 326 meters from surface, 3.2 g/t gold over 72 meters from surface, 156 g/t gold over 3 meters, and 25 g/t gold over 14 meters.
"From surface" means the mineralized interval starts at the top of the hole, with no barren rock above it. At Basin Gulch, three highlight intercepts start at surface, including 1.8 g/t gold over 162 meters. Lannister Mining links this near-surface position to flexibility in a future mine design.
g/t means grams per tonne: how many grams of metal are contained in one metric tonne of rock. A result of 1.8 g/t gold over 162 meters means the sampled interval averaged 1.8 grams of gold per tonne across 162 meters of drilled length.
Trench highlights reported by Lannister Mining include 62 g/t gold and 32 g/t silver over 159 meters, 4 g/t gold and 23 g/t silver over 146 meters, 5 g/t gold and 54 g/t silver over 34 meters, and 25 g/t gold and 45 g/t silver over 61 meters.
No. Historical drill results are not a mineral resource. Lannister Mining states that Basin Gulch has potential to host a significant maiden mineral resource estimate after expansion and confirmation drilling of historical drill intercepts. Confirmation drilling checks that historical results can be reproduced before they support a resource.
Historical drilling gives an exploration company a head start: it shows where mineralization has already been intersected and where it remains open. At Basin Gulch, more than 320 historical holes guide where confirmation and expansion drilling can go, instead of starting from grassroots targeting.
Oxide-hosted gold sits in rock that has been weathered and oxidized near the surface. Lannister Mining describes Basin Gulch mineralization as hosted in oxides and near surface. Across the industry, oxide material is generally simpler to process than unoxidized sulfide material, though processing choices are confirmed only through metallurgical testing.
Yes. Lannister Mining reports that the gold-silver mineralization at Basin Gulch is open in multiple directions and at depth, open along strike, and untested regionally. "Open" means drilling has not yet found the edges of the mineralized zone in those directions.
About two-thirds of the Basin Gulch property is still unexplored, according to Lannister Mining. Future drilling is planned to concentrate on additional mineralized target areas within the property, and the company reports multiple high priority targets near the historic resource area.
No silver resource has been estimated yet. Reported silver values come from trench sampling, ranging from 23 g/t silver over 146 meters to 54 g/t silver over 34 meters in the highlights. A maiden mineral resource estimate would be the first formal statement of contained gold and silver.
Lannister Mining describes high-grade gold-silver mineralization near surface at Basin Gulch. Reported highlights include 156 g/t gold over 3 meters and 25 g/t gold over 14 meters from historical drilling, alongside long lower-grade intervals such as 0.66 g/t gold over 326 meters from surface.
Near-surface mineralization can give flexibility in how a future mine could be designed. Lannister Mining points to significant implied mine design optimization flexibility at Basin Gulch because several highlight intercepts start at surface. Any mine design would first require a resource estimate and engineering studies.
The Basin Gulch land package totals 1,107 hectares, made up of 11 patented claims and 53 unpatented claims. The property is underlain by a core of patented mining claims surrounded by unpatented mining claims, and Basin Gulch is primarily on patented land.
A patented mining claim is one where the US federal government has transferred title to the claim holder, making it private land. An unpatented claim grants mineral rights on federal land without transferring land title. Basin Gulch is primarily on patented land, with 11 patented and 53 unpatented claims.
Yes. Basin Gulch has year-round access from Philipsburg, Montana, on paved and well-maintained gravel roads. The property is about one hour from Butte, Montana, which Lannister Mining highlights as making the site accessible for exploration work throughout the year.
The Philipsburg Mining District is a historic mining district in west-central Montana. According to Lannister Mining, it led the original US silver boom in the late 1800s. Basin Gulch sits in the heart of this district, which the company describes as a safe jurisdiction for exploration.
Montana is known as the Treasure State because of its mineral wealth and a history built on mining. The first gold discovery in the Montana territory occurred in 1852 at Gold Creek, near present-day Garrison, and silver, copper, nickel and platinum have since been discovered and mined in the state.
Yes. Basin Gulch is in Montana, USA. Lannister Mining notes a clear market premium for gold and silver ounces in the USA that are compliant with S-K 1300 and NI 43-101 technical report standards, which is part of why the company is working toward a maiden resource there.
A maiden mineral resource estimate is the first formal estimate of the tonnes and grade of mineralization on a property, prepared under a reporting standard. For Basin Gulch, Lannister Mining plans to use historical drilling and new work programs to produce its first resource estimate.
No date is stated on this site. Lannister Mining says historical drilling and new work programs will be used in a future maiden mineral resource estimate. For current timing, check the latest investor presentation and news on the company website at lannistermining.com, which carries its most recent disclosures.
Confirmation drilling means drilling new holes near historical holes to check that the original results can be reproduced with modern methods. Lannister Mining says Basin Gulch could host a significant maiden resource after expansion and confirmation drilling of historical drill intercepts.
Expansion drilling tests beyond the known limits of mineralization to see how far it extends. Because Basin Gulch mineralization is reported open at depth, along strike and in multiple directions, expansion drilling can target those open edges. Future drilling will also test additional target areas on the property.
NI 43-101 is the Canadian standard for disclosing mineral project information, and S-K 1300 is the US Securities and Exchange Commission rule for mining property disclosure. Lannister Mining notes a clear market premium for gold and silver ounces in the USA that comply with these technical report standards.
After a first resource estimate, exploration companies typically keep drilling to grow and upgrade the resource, then move toward economic studies. Lannister Mining describes its plan as further exploration and development toward a maiden resource; its investor presentation is the place to check stated plans beyond that milestone.
The stages of mineral exploration usually run from target generation, to mapping and sampling, to discovery drilling, to resource definition, then to economic studies and development. Basin Gulch already has extensive historical drilling and is working toward resource definition with its planned maiden mineral resource estimate.
A gold exploration company searches for and defines gold deposits that could one day become mines. Its work includes mapping, sampling, trenching, drilling and resource estimation. Lannister Mining is a gold exploration company focused on Basin Gulch in Montana, where it plans more exploration toward a maiden resource.
Evaluate gold exploration companies on five facts: jurisdiction, land position, amount and quality of drill data, a clear path to a compliant resource, and the team record. For Basin Gulch, those facts are a Montana location, 1,107 hectares, more than 320 historical holes and a maiden resource plan.
Yes. Many mineral exploration companies work on US gold and silver projects, and Lannister Mining is one, focused on Basin Gulch in Montana. Lists of US exploration companies change often, so check stock exchange listings and state geological surveys, such as the Montana Bureau of Mines and Geology, for current information.
There is no single official ranking of top gold exploration companies; rankings depend on criteria such as resource size, stage and jurisdiction. This site covers only the Basin Gulch project of Lannister Mining, so it does not rank other companies. Use the evaluation checklist on this site to compare any company on equal terms.
Exploration finds and measures a deposit; mining extracts it. Exploration companies drill, sample and estimate resources, while mining companies build and operate mines. Basin Gulch is at the exploration stage: Lannister Mining is working toward a maiden resource estimate and is not producing gold.
Yes. Mineral exploration is high risk because most exploration projects never become mines, and results can change as drilling proceeds. Historical data such as the 320+ drill holes at Basin Gulch narrow some uncertainty, but confirmation drilling, resource estimation and studies are still needed. Read company disclosures carefully.
Start with the drill history and the resource plan. Understand the more than 320 historical drill holes, the highlight intercepts from surface, and how confirmation and expansion drilling lead toward a maiden mineral resource estimate. Then ask Lannister Mining for the investor briefing to get current details.
Lannister Mining publishes its investor presentations on the invest page of its main website, lannistermining.com/invest, including a USA investor presentation dated June 2026. Investors and partners can ask the company investor relations team for the investor briefing through that page.
Lannister Mining aims to attract new investors and partners as it advances Basin Gulch toward a maiden resource estimate. Prospective partners should review the property facts and the investor presentation on lannistermining.com, then approach the company investor relations team to start a discussion.
Jim Greig is CEO and Director, with more than 25 years of experience advancing and developing projects; he was a founder, President and Director at Thesis Gold (formerly Benchmark Metals). Kelvin Lee is CFO, with over 15 years of financial management experience with publicly traded companies.
Lannister Mining has its head office in Vancouver, British Columbia, Canada, while its Basin Gulch project is in west-central Montana. The company main website, lannistermining.com, lists its investor relations details for anyone who wants to follow up on the project.
Lannister Mining states that US-based companies with NI 43-101 compliant resources trade at a significant premium compared to their peers. A compliant resource gives investors a standardized estimate prepared by a qualified person, which is why the company treats a Basin Gulch maiden resource as a key milestone.
Published by Lannister Mining
