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Gold exploration questions, answered

Last updated: November 2026

Lannister Mining is a gold exploration company exploring the Basin Gulch gold and silver property in Montana. Below are plain answers to the questions investors, partners and readers ask most about the company, the property and mineral exploration.

What is a gold exploration company?

A gold exploration company searches for, drills and defines gold deposits before any mine is built, and usually has no mining revenue. Lannister Mining is one, focused on Basin Gulch, where more than 320 historical drill holes have tested near-surface mineralization.

What Lannister Mining is

What is Lannister Mining?
Lannister Mining is a mineral exploration company focused on the Basin Gulch gold and silver property in west-central Montana. The near-surface mineralization has been explored through more than 320 historical drill holes, and the company plans further exploration and development toward a maiden mineral resource estimate.
Is Lannister Mining a gold exploration company or a gold producer?
Lannister Mining is a gold exploration company, not a producer. It does not operate a mine. Its work centers on exploring Basin Gulch, confirming and expanding historical drill results, and building toward a maiden mineral resource estimate for gold and silver.
Where is Lannister Mining based?
Lannister Mining lists its office at 1500 - 1055 West Georgia Street, Vancouver, BC, Canada V6E 4N7. Its project, Basin Gulch, is in west-central Montana near Philipsburg, about one hour from Butte. The company describes itself as a Montana based gold and silver developer focused on Basin Gulch.
What metals is Lannister Mining exploring for?
Lannister Mining is exploring for gold and silver. Basin Gulch hosts gold and silver mineralization in oxides near surface, and both metals appear in historical trench results. Historical drill highlights reported by the company are stated in grams per tonne of gold.
Who leads Lannister Mining?
Jim Greig is CEO and a director, with more than 25 years of experience advancing projects toward production. Kelvin Lee is CFO, with over 15 years of financial management experience at publicly traded companies. The board includes Mario Vetro, Victor Cantore, Max Zaretsky, Jo Anne Price and Will Randall.
What is the Lannister Mining team known for?
The company says many of its co-founders or senior executives were also involved with K92 Mining, Fosterville South Exploration, Arena Minerals and Thesis Gold. Director Will Randall acquired, discovered, developed and sold the Sal de los Angeles lithium brine project in Argentina for $265M.
Is this the official Lannister Mining website?
This site is published by Lannister Mining. It is one of a small number of websites the company publishes, written for prospective investors and partners. The company main website is lannistermining.com, where corporate materials are also posted.

The Basin Gulch property

Where is the Basin Gulch property?
Basin Gulch is in west-central Montana, in the historic Philipsburg Mining District. It has year-round access from Philipsburg on paved and well-maintained gravel roads and is about one hour from Butte, Montana.
How large is the Basin Gulch land package?
The total land package covers 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 claims, and the company reports multiple high priority targets near the historic resource.
What is the difference between patented and unpatented claims?
In general, a patented mining claim is land where the federal government has passed title to the claim holder, while an unpatented claim gives the right to explore and develop minerals on public land without owning the surface. Basin Gulch is primarily on patented land, with 11 patented and 53 unpatented claims.
How much of Basin Gulch is still unexplored?
About two-thirds of the Basin Gulch property is still unexplored, according to the company. Mineralization is described as open at depth, open along strike and untested regionally, which is why future drilling will also target additional mineralized areas within the property.
What does oxide hosted gold mean at Basin Gulch?
Oxide mineralization is rock that has been weathered near the surface, which often makes gold and silver easier to recover than in deeper sulfide rock. The company states that Basin Gulch mineralization is hosted in oxides and sits near surface, which it says offers mine design optimization flexibility.
Can Basin Gulch be worked year-round?
Yes. The company reports year-round access to Basin Gulch from Philipsburg, Montana on paved and well-maintained gravel roads. The site is about one hour from Butte, which supports logistics for field programs and drilling.
Why explore for gold in Montana?
Montana is known as the Treasure State for its mineral wealth and long mining history. The first gold discovery in the Montana territory was in 1852 at Gold Creek, near present-day Garrison. Basin Gulch sits in the Philipsburg Mining District, which led the original US silver boom in the late 1800s.

Drilling and the maiden resource

How many holes have been drilled at Basin Gulch?
More than 320 historical drill holes have been completed at Basin Gulch. The company plans to use this historical drilling, together with new work programs, in a future maiden mineral resource estimate.
What are the best historical drill results at Basin Gulch?
Historical highlights reported by the company 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. These are historical results.
What is a maiden mineral resource estimate?
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 such as NI 43-101 in Canada or S-K 1300 in the US. Lannister Mining plans to build toward one for Basin Gulch.
Are historical drill results the same as a current mineral resource?
No. Historical drill results are records of past work and are not a current mineral resource. Lannister Mining plans expansion and confirmation drilling of historical intercepts, alongside new work, before a maiden mineral resource estimate can be prepared.
What is confirmation drilling?
Confirmation drilling means drilling new holes near historical ones to check that past results can be reproduced with modern methods. At Basin Gulch, the company describes expansion and confirmation drilling of historical intercepts as a step toward a significant maiden mineral resource estimate.
What did trenching show at Basin Gulch?
Historical trench highlights reported by the company include 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. Trenching samples rock exposed at surface.
What does g/t mean in gold drill results?
g/t means grams per tonne, the number of grams of metal in one metric tonne of rock. A result such as 1.8 g/t gold over 162 meters describes the average grade across that length of drill core. Longer intervals at steady grade usually matter more than a single short high grade sample.

How gold and mineral exploration works

What is mineral exploration?
Mineral exploration is the process of finding, testing and measuring deposits of metals or minerals that could one day be mined. It moves from mapping and sampling, to drilling, to formal resource estimates and technical studies. Most exploration projects never become mines, which is why each stage builds evidence step by step.
What are the stages of mineral exploration?
The stages of mineral exploration usually run from target generation, to surface sampling and mapping, to discovery drilling, to expansion and confirmation drilling, to a maiden mineral resource estimate, and then to economic studies. Basin Gulch has extensive historical drilling and is working toward its maiden resource.
Mining companies conduct mineral exploration to do what?
Mining companies conduct mineral exploration to find and define deposits that could be mined economically. Exploration replaces reserves a producer mines out, and for a junior explorer it creates value by turning a property with promising results into a defined resource that investors and partners can assess.
How is gold found in exploration?
Gold is usually found through geological mapping, rock and soil sampling, trenching, geophysics and, above all, drilling. Drill core is assayed to measure grade. At Basin Gulch, more than 320 historical drill holes and trenching have already outlined near-surface gold and silver mineralization.
How long does mineral exploration take?
Mineral exploration commonly takes years, and moving from discovery to production can take a decade or more depending on the project, permitting and financing. Timelines vary widely, so the best guide for any specific project is the company own disclosure and technical reports.
What are NI 43-101 and S-K 1300?
NI 43-101 is the Canadian standard for disclosing scientific and technical information on mineral projects, and S-K 1300 is the US Securities and Exchange Commission standard for mining property disclosure. Lannister Mining states that the market places a premium on gold and silver ounces in the USA reported under these standards.
What do mineral exploration drilling companies do?
Mineral exploration drilling companies are contractors that supply rigs and crews to drill core or reverse circulation holes for explorers. The exploration company designs the program and interprets results, while the drilling contractor collects the samples. Contract terms and costs vary by region and program size.

Mineral exploration companies compared

What is the difference between a gold exploration company and a gold producer?
A gold exploration company searches for and defines deposits but has no mining revenue, while a gold producer operates mines and sells gold. Lannister Mining is an exploration company. Producers such as Coeur Mining report quarterly revenue and cash flow, which explorers do not have.
How do you value a gold exploration company?
To value a gold exploration company, investors usually look at the quality and size of the property, drill results, the stage of work, jurisdiction, management track record, and whether a compliant resource exists. Lannister Mining points to its 320 plus historical holes, Montana location and team as its key factors.
Are there mineral exploration companies in the USA?
Yes. Many mineral exploration companies in the USA explore in states such as Nevada, Montana, Idaho and Alaska. Lannister Mining explores Basin Gulch in Montana. The company states that US-based companies with NI 43-101 compliant resources trade at a significant premium compared to their peers.
Why are so many mineral exploration companies Canadian?
Canada is a major center for exploration financing, and many juniors list in Canada even when their projects are elsewhere. Natural Resources Canada reports that junior exploration companies spent $2.11 billion in Canada in 2024. Lannister Mining has its office in Vancouver while its project is in Montana.
Who are the top gold exploration companies?
There is no single official ranking of top gold exploration companies; lists vary by market capitalization, ounces or drill results. This site does not publish a ranking. It explains Lannister Mining and Basin Gulch, and suggests readers compare companies on the same criteria: stage, property, results, jurisdiction and team.
What is a junior mining company?
A junior mining company is a smaller company, usually focused on exploration or early development, that funds its work mainly by raising equity rather than from production revenue. Lannister Mining fits the profile of an exploration stage company focused on a single property, Basin Gulch.
What do mineral discovery and prospector companies do?
Prospector and discovery focused companies generate early targets and make new discoveries, often selling or partnering projects with larger firms. Lannister Mining is at a later point than grassroots prospecting: Basin Gulch already has more than 320 historical drill holes and is advancing toward a maiden resource.

For investors and partners

Why might investors look at Lannister Mining?
The company presents Basin Gulch as an asset with significant historical work, more than 320 drill holes, that has not been mined out and is in a premium US jurisdiction. It also points to its experienced team. Each investor should weigh these points against the risks of exploration.
Where can I find the Lannister Mining investor presentation?
The June 2026 USA investor presentation is posted on the Lannister Mining main website as a PDF. The investors page on this site links to it directly. A Canadian version is also referenced on the company website.
How do I reach Lannister Mining investor relations?
The company lists Ken Cotiamco as its investor contact, with the phone number 604-687-7130 and the email IR@lannistermining.com. The office address is 1500 - 1055 West Georgia Street, Vancouver, BC, Canada V6E 4N7.
What should investors do after reviewing Basin Gulch?
Investors should first understand the Basin Gulch drill history and the plan toward a maiden mineral resource estimate, then ask Lannister Mining for the investor briefing. The investor presentation and the historical drilling page on this site are the best places to start.
Does Lannister Mining work with partners?
Lannister Mining wants to attract new investors and partners for Basin Gulch. Partners interested in the project can review the property overview and investor materials, then raise questions with the company investor relations contact listed on the investors page.
Where does Lannister Mining publish news releases?
Official news releases and corporate updates are posted on the Lannister Mining main website at lannistermining.com. This site summarizes the Basin Gulch project and investor materials and does not replace the company official filings or releases.
Is this website investment advice?
No. This website is published by Lannister Mining to explain its project and is not investment advice. Exploration companies carry high risk, and readers should review official disclosures and speak with a licensed financial adviser before making any investment decision.

Risks and practical questions

What are the main risks of investing in a gold exploration company?
The main risks are that drilling may not confirm expected results, a resource may prove smaller than hoped, metal prices can fall, permits and financing can be delayed, and exploration companies have no production revenue. These risks apply to Lannister Mining as they do to other explorers.
Has Basin Gulch already been mined?
Lannister Mining states that Basin Gulch has not been mined out. The property has seen significant historical exploration work, including more than 320 drill holes, and about two-thirds of it is still unexplored.
Does Basin Gulch have a current mineral resource?
Not yet. Lannister Mining plans to use historical drilling and new work programs in a future maiden mineral resource estimate. Until that estimate is published under a recognized standard, historical results should not be read as a current resource.
Is mineral exploration spending rising or falling?
In Canada, preliminary data from Natural Resources Canada show exploration expenditures rose 4% in 2025 to $4.4 billion, after stable spending of $4.2 billion in 2024. Spending had reached a record $4.4 billion in 2022 before moderating in 2023.
Why does silver matter at a gold exploration project?
Silver found alongside gold can add value to the same tonnes of rock. At Basin Gulch, historical trench highlights report both metals, for example 5 g/t gold and 54 g/t silver over 34 meters, and the company describes the project as a gold and silver property.
Can I visit the Basin Gulch property?
Basin Gulch is an active exploration property, and access is managed by the company. Investors or partners interested in seeing the site should raise it with Lannister Mining investor relations. The property is reached from Philipsburg, Montana, about one hour from Butte.
How often is this website updated?
Each main page shows a Last updated line with the month and year of its most recent revision. Facts here come from Lannister Mining materials. For the latest releases and filings, check lannistermining.com.