Lannister MiningFAQPublished by Lannister MiningLast updated:
This page answers 45 common questions about Lannister Mining, Basin Gulch and mineral exploration.
Answers come from Lannister Mining's published information, general industry knowledge, and named third-party sources where a market figure is quoted.
Lannister Mining is a mineral exploration company exploring for gold and silver at the Basin Gulch Property in west-central Montana, USA. Basin Gulch covers 1,107 hectares with 11 patented and 53 unpatented claims and more than 320 historical drill holes, and the company plans a maiden mineral resource estimate.
Lannister Mining is a mineral exploration company exploring for gold and silver at the Basin Gulch Property in west-central Montana, USA. The property holds 11 patented and 53 unpatented claims and more than 320 historical drill holes. The company plans further exploration and a maiden mineral resource estimate.
Yes, its exploration is entirely in the USA. Lannister Mining's single project, the Basin Gulch Property, sits in west-central Montana near Philipsburg. Its corporate office is in Vancouver, British Columbia, but its exploration work is focused on this US gold and silver property in the historic Philipsburg Mining District.
Lannister Mining's listed address is 1500 - 1055 West Georgia Street, Vancouver, BC, Canada V6E 4N7. Investor relations can be reached at 604-687-7130 or IR@lannistermining.com. The exploration property itself is in Montana, about one hour from Butte by road.
Jim Greig is CEO and Director, with more than 25 years of experience advancing projects toward production. He was a founder, President and Director of Thesis Gold (formerly Benchmark Metals). Kelvin Lee is CFO and brings over 15 years of financial management experience with publicly traded companies.
Lannister Mining's team includes many of the same co-founders or senior executives as K92 Mining, Fosterville South Exploration, Arena Minerals and Thesis Gold. Director Mario Vetro is a co-founder of K92 Mining, and advisor John Lewins is K92 Mining's Chief Executive Officer.
No. Lannister Mining is an exploration company and the Basin Gulch Property is not in production. The company describes it as an asset that has seen significant historical work but has not been mined out. Its next milestones are further exploration and a maiden mineral resource estimate.
The Basin Gulch Property is in west-central Montana, in the historic Philipsburg Mining District. It has year-round access from Philipsburg, Montana, on paved and well-maintained gravel roads, and sits about one hour from Butte. The district led the original US silver boom in the late 1800s.
The total land package covers 1,107 hectares. It is made up of 11 patented mining claims at its core, surrounded by 53 unpatented mining claims. Lannister Mining reports that about two-thirds of the property is still unexplored, with multiple high priority targets near the historic resource.
A patented claim is land where the US federal government has transferred title to the holder, while an unpatented claim grants mineral rights on public land without land ownership. Basin Gulch is primarily on patented land, with 11 patented claims at its core. The Bureau of Land Management can confirm how specific claim rules apply.
Basin Gulch hosts gold and silver mineralization in oxides. Historical drilling reported gold intercepts such as 1.8 g/t Au over 162 meters from surface, and trench sampling reported both gold and silver, including 5 g/t Au and 54 g/t Ag over 34 meters.
Oxide hosted means the mineralization sits in rock that has been weathered and oxidized, usually near surface. In the industry, oxide gold is often simpler to process than sulfide-hosted gold, which can shape project design. Basin Gulch is described as oxide hosted and near surface. Processing outcomes depend on future metallurgical testing.
About one-third. Lannister Mining reports that two-thirds of the Basin Gulch Property is still unexplored. The mineralization is described as open at depth and along strike, and the wider property is untested regionally, which is why future drilling will also target additional mineralized areas.
Not yet. Lannister Mining plans a maiden mineral resource estimate that will use historical drilling together with new work programs. The company says the property has potential to host a significant maiden estimate after expansion and confirmation drilling of historical drill intercepts.
More than 320 historical drill holes have been completed at the Basin Gulch Property. Lannister Mining plans to use this historical drilling, together with new work programs and confirmation drilling, as the basis for a future maiden mineral resource estimate.
Highlight historical intersections include 1.8 g/t Au over 162 meters from surface, 0.66 g/t Au over 326 meters from surface, 3.2 g/t Au over 72 meters from surface, 156 g/t Au over 3 meters, and 25 g/t Au over 14 meters. Confirmation drilling is planned to test these historical results.
Trench highlights reported by Lannister Mining include 62 g/t Au and 32 g/t Ag over 159 meters, 4 g/t Au and 23 g/t Ag over 146 meters, 5 g/t Au and 54 g/t Ag over 34 meters, and 25 g/t Au and 45 g/t Ag over 61 meters.
g/t Au means grams of gold per tonne of rock. A result such as 1.8 g/t Au over 162 meters means a continuous 162 meter length of drill core averaged 1.8 grams of gold per tonne. Ag is the chemical symbol for silver and is reported the same way.
Mineral exploration drilling bores into rock to recover samples that show which metals lie below surface and at what grades. Common methods include reverse circulation and diamond core drilling. At Basin Gulch, more than 320 historical holes provide the starting dataset for future confirmation and expansion drilling.
Confirmation drilling checks that historical results can be reproduced with modern methods and quality control. Disclosure standards such as NI 43-101 in Canada and S-K 1300 in the US rely on data a qualified person can verify. Lannister Mining plans confirmation drilling of historical intercepts ahead of its maiden estimate.
Lannister Mining says future drilling will concentrate on additional mineralized target areas within the Basin Gulch Property, alongside expansion and confirmation drilling of historical intercepts. With two-thirds of the property unexplored and multiple high priority targets near the historic resource, step-out work is central to the plan.
Mineral exploration usually moves through five broad stages: target generation, sampling and mapping, discovery drilling, resource definition with a resource estimate, and economic studies toward a development decision. Each stage reduces uncertainty and usually costs more than the last. Basin Gulch sits between historical discovery drilling and resource definition.
A maiden mineral resource estimate is the first formal estimate of the tonnes and grade of mineralization on a property, prepared under a reporting code such as NI 43-101 or S-K 1300. Lannister Mining plans a maiden estimate for Basin Gulch using historical drilling and new work programs.
NI 43-101 is Canada's national instrument setting standards for public disclosure of scientific and technical information about mineral projects. It requires a qualified person to support technical disclosure. Lannister Mining refers to NI 43-101 and the US S-K 1300 standard when discussing compliant gold and silver ounces.
S-K 1300 is the US Securities and Exchange Commission's rule for mining property disclosure, which brought US reporting closer to international standards such as NI 43-101. It covers how exploration results, mineral resources and reserves are disclosed. Lannister Mining cites S-K 1300 and NI 43-101 compliant ounces as carrying a market premium.
Mineral exploration often takes many years from first sampling to a resource estimate, and longer again to reach a development decision. Timelines depend on funding, permitting, seasons and results. Basin Gulch benefits from year-round road access from Philipsburg. Check lannistermining.com for the latest company timeline.
Exploration is the search for and definition of mineralization through mapping, sampling and drilling. Development begins once studies support building a mine and covers permitting, engineering and construction. Lannister Mining is at the exploration stage at Basin Gulch, working toward a maiden mineral resource estimate.
Mining companies conduct mineral exploration to find and measure deposits that can replace or add to production, because operating mines eventually deplete their reserves. Exploration companies such as Lannister Mining focus on this early work, aiming to define resources that may later be advanced, partnered or developed.
Gold exploration companies search for and define gold deposits rather than operate producing mines. They raise capital to fund mapping, sampling and drilling, aiming to establish a mineral resource. Lannister Mining is a gold and silver exploration company working on the Basin Gulch Property in Montana.
Producers earn revenue by selling metal from operating mines, while explorers generally have no production revenue and fund work through equity financing. For example, The Motley Fool reports Barrick set a policy in early 2026 to pay out about 50% of its free cash flow in dividends, a model explorers typically cannot offer.
Look at asset quality and the amount of existing data, the jurisdiction, access, land tenure, the team's track record, and a clear path to a compliant resource. Lannister Mining's case rests on more than 320 historical holes, mostly patented land, year-round access, and a team linked to K92 Mining and Thesis Gold.
This site does not rank Lannister Mining against other companies, because a fair ranking needs the same data for every company. It does publish the facts behind Basin Gulch: 1,107 hectares, 11 patented and 53 unpatented claims, more than 320 historical drill holes, and a planned maiden resource estimate.
According to USGS figures summarized by Farmonaut, Nevada produced about 64% of US gold and Alaska about 22% in 2025. More than 40 lode gold mines in 12 states produced an estimated 160 tonnes in 2025, worth about US$17 billion. Montana is outside those two leading states.
Sprott reports gold reached an all-time high of $5,595 per ounce in January 2026, followed by a 25.3% peak-to-trough drawdown from March 2 through July 16, 2026. USGS data summarized by Farmonaut show the average gold price rose from US$1,801 per ounce in 2021 to about US$3,300 in 2025.
The core work is the same everywhere: sampling, drilling and resource definition under a reporting code. Many gold exploration companies list in Canada or Australia and explore in places such as Nevada, Yukon or Ghana. Lannister Mining is based in Vancouver, explores in Montana, and refers to NI 43-101 and S-K 1300.
This site is written mainly for investors and industry partners evaluating Basin Gulch. It sets out the property facts, historical drilling, team and planned exploration. Readers learning about mineral exploration can use the stages and drilling pages for plain explanations of how a project moves toward a resource estimate.
Lannister Mining states there is a clear premium in the market for S-K 1300 and NI 43-101 compliant gold and silver ounces in the USA, and that US-based companies with 43-101 compliant resources trade at a significant premium to peers. This is the company view, not an independent valuation.
Lannister Mining publishes a USA investor presentation dated June 2026 as a PDF on its main website, lannistermining.com. It is linked from the Investors and Partners page of this site. Read it alongside any regulatory filings before making an investment decision.
Lannister Mining wants to attract exploration partners who can help advance Basin Gulch through expansion drilling, confirmation drilling and work on unexplored targets toward a maiden resource estimate. Partners can review the property, drilling and team facts on this site, then visit lannistermining.com for current company information.
Exploration companies carry high risk: drilling may not confirm historical results, a resource may be smaller than hoped, metal prices move, and projects need continuing financing. Sprott reports a 25.3% peak-to-trough drawdown in gold from March 2 through July 16, 2026. This site is information, not investment advice.
Ken Cotiamco is listed as Lannister Mining's investor representative. Investor relations enquiries go to 604-687-7130 or IR@lannistermining.com, as listed on the company's main website. The company's office is in Vancouver, British Columbia, and further company information is available at lannistermining.com.
Lannister Mining's board includes CEO Jim Greig and directors Mario Vetro, Victor Cantore, Max Zaretsky, Jo Anne Price and Will Randall. Their backgrounds span merchant banking, capital markets, private placement financing, geological consulting and project development, including the sale of the Sal de los Angeles lithium brine project for $265M.
Montana is known as the Treasure State for its mineral wealth and mining history, and mining still plays an active role in its economy. The first gold discovery in the Montana territory was in 1852 at Gold Creek, near present-day Garrison. Silver, copper, nickel and platinum have since been discovered and mined.
The Philipsburg Mining District in west-central Montana led the original US silver boom in the late 1800s. Lannister Mining's Basin Gulch Property sits in the heart of this historic district, which the company describes as a safe jurisdiction for exploration with a long record of mining activity.
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. Year-round access matters for exploration because it can allow drilling and fieldwork outside a short summer season.
The property has year-round road access from Philipsburg, which supports work outside the summer months. Actual field schedules still depend on weather, permits and program design. This site does not publish a seasonal drilling schedule, so check lannistermining.com for current program updates.
Part of the overview of Lannister Mining among mineral exploration companies.