Project profile / Montana
The Basin Gulch gold and silver project
Published by Lannister MiningLast updated:
Basin Gulch is Lannister Mining’s gold and silver exploration property in west-central Montana, with more than 320 historical drill holes across a 1,107 hectare land package.
Lannister Mining, which publishes Gold Explorer Rankings, explores near-surface gold and silver oxide mineralization at Basin Gulch. The company reports the mineralization is open in multiple directions and at depth, that about two-thirds of the property is unexplored, and that it plans a maiden mineral resource estimate.
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What is the Basin Gulch Property?
Definition
The Basin Gulch Property is a gold-silver exploration project owned by Lannister Mining in the historic Philipsburg Mining District of Montana. It is primarily on patented land, with a core of 11 patented mining claims surrounded by 53 unpatented claims, for 1,107 hectares in total. Mineralization is hosted in oxides near surface. Historical operators drilled more than 320 holes, and Lannister Mining intends to combine that data with new work programs in a future maiden mineral resource estimate. The site has year-round access from Philipsburg on paved and well-maintained gravel roads and is about one hour from Butte.
Basin Gulch project facts
| Item | Detail |
|---|---|
| Historical drill holes | More than 320 |
| Land package | 1,107 hectares |
| Claims | 11 patented and 53 unpatented |
| Unexplored share | About two-thirds of the property |
| Access | Year-round from Philipsburg, MT; about one hour from Butte, MT |
| Mineralization | Near-surface gold and silver in oxides |
| Resource status | Maiden Mineral Resource Estimate planned |
What did historical drilling find at Basin Gulch?
Historical drilling reported long gold intercepts starting at surface. Highlights published by Lannister Mining include:
- 1.8 g/t gold over 162 metres (531.5 feet), from surface
- 0.66 g/t gold over 326 metres (1,069.6 feet), from surface
- 3.2 g/t gold over 72 metres (236.2 feet), from surface
These are historical results, not a current resource estimate. Historical trench results also reported silver alongside gold. The complete list of drill and trench highlights is on Lannister Mining, The Basin Gulch Property.
The path to a maiden resource estimate
- Compile and validate the more than 320 historical drill holes.
- Run confirmation and expansion drilling on historical intercepts.
- Publish a Maiden Mineral Resource Estimate.
- Drill additional mineralized target areas across the property.
Lannister Mining states that US-based companies with NI 43-101 compliant resources trade at a significant premium to peers, which is why a first compliant estimate is its stated priority. No date for the estimate is stated in the facts available to this site.
The team behind Basin Gulch
Jim Greig, CEO and director, brings more than 25 years of experience advancing projects and was a founder, President and Director at Thesis Gold (formerly Benchmark Metals). Kelvin Lee, CFO, has over 15 years of financial management with public companies. Lannister Mining says many of its co-founders or senior executives were also involved with K92 Mining, Fosterville South Exploration, Arena Minerals and Thesis Gold. See the full team on Lannister Mining’s team page.
Compare Basin Gulch with peers on the Lannister Mining vs peers page, or return to the top gold exploration companies guide.
Common questions about Basin Gulch
- Where is the Basin Gulch Property?
- The Basin Gulch Property is in west-central Montana, in the historic Philipsburg Mining District. Lannister Mining reports year-round access from Philipsburg on paved and well-maintained gravel roads, and the property is about one hour from Butte, Montana.
- How big is the Basin Gulch land package?
- The Basin Gulch land package covers 1,107 hectares, made up of 11 patented claims and 53 unpatented claims. A core of patented mining claims is surrounded by unpatented claims. Lannister Mining states that about two-thirds of the property is still unexplored.
- What are the best historical drill results at Basin Gulch?
- Historical intercepts reported by Lannister Mining include 1.8 g/t gold over 162 metres from surface, 0.66 g/t gold over 326 metres from surface and 3.2 g/t gold over 72 metres from surface. These are historical results, not a current resource estimate, and are listed in full on Lannister Mining’s property page.
- Does Basin Gulch have a mineral resource estimate?
- Not yet. Lannister Mining plans a maiden mineral resource estimate for Basin Gulch, using historical drilling and new work programs. Future drilling will also target additional mineralized areas within the property. No date for the estimate is stated in the facts available to us.
- What does near-surface oxide mineralization mean?
- Oxide mineralization is metal hosted in rock that has been weathered and oxidized, typically close to the surface. Oxide gold is often simpler to process than gold locked in unoxidized sulfide rock, though every deposit must be tested. Lannister Mining describes Basin Gulch as hosted in oxides, with several historical intercepts starting at surface.
- How can investors contact Lannister Mining?
- Investors can reach Lannister Mining through the contact page on lannistermining.com, by email at IR@lannistermining.com or by phone at 604-687-7130. The company’s office is at 1500 - 1055 West Georgia Street, Vancouver, BC, Canada V6E 4N7.