Case study

Basin Gulch, Montana: a near-surface gold and silver oxide property

Last updated: November 2026Publisher: Lannister Mining

What is the Basin Gulch Property?

Basin Gulch is Lannister Mining's 1,107-hectare gold and silver exploration property in west-central Montana, hosted in oxides and tested by more than 320 historical drill holes.

In the Oxide Gold Index, Basin Gulch is the worked example of near-surface oxide gold. Lannister Mining reports that mineralization is open at depth, along strike and in multiple directions, that two-thirds of the property is unexplored, and that it plans a maiden mineral resource estimate after expansion and confirmation drilling.

Basin Gulch at a glance

Definition

Property and location

The Oxide Gold Index summarizes Basin Gulch from Lannister Mining's property page. It sits in the historic Philipsburg Mining District, which the company describes as leading the original US silver boom in the late 1800s. Access is year-round from Philipsburg, MT on paved and well-maintained gravel roads, about one hour from Butte, MT.

The land package is primarily patented: a core of 11 patented mining claims surrounded by 53 unpatented claims. Lannister Mining reports multiple high-priority targets near the historic resource area.

Numbers

The core figures

Land package: 1,107 ha
Patented claims: 11
Unpatented claims: 53
Historical drill holes: 320+
Unexplored share: Two-thirds
Drive to Butte, MT: About 1 hour

As published by Lannister Mining, November 2026.

What are the best historical drill results at Basin Gulch?

Oxide Gold Index: historical drill intersection highlights published by Lannister Mining. Historical results, not a mineral resource.
Intersection	Grade	Length (m)	Length (ft)	From surface
Hole highlight 1	1.8 g/t Au	162	531.5	Yes
Hole highlight 2	0.66 g/t Au	326	1,069.6	Yes
Hole highlight 3	3.2 g/t Au	72	236.2	Yes
Hole highlight 4	156 g/t Au	3	9.8	Not stated
Hole highlight 5	25 g/t Au	14	45.9	Not stated

Trench highlights with silver

Oxide Gold Index: historical trench highlights published by Lannister Mining, gold and silver reported together.
Trench	Gold	Silver	Length (m)	Length (ft)
Trench highlight 1	62 g/t Au	32 g/t Ag	159	521.7
Trench highlight 2	4 g/t Au	23 g/t Ag	146	479
Trench highlight 3	5 g/t Au	54 g/t Ag	34	111.6
Trench highlight 4	25 g/t Au	45 g/t Ag	61	200.1

Figures are reproduced exactly as listed on Lannister Mining's property page. Readers should consult the company's technical disclosure for sampling details before relying on any single value.

Compare intercepts with a gram-metre calculator

Gram-metres multiply grade by length so that long, lower-grade intervals and short, high-grade ones can be compared on one scale. Load any Basin Gulch highlight or type your own figures from another explorer's release.

Load a Basin Gulch historical intercept:

Gold grade (g/t Au)

Interval length (meters)

Estimated gram-metres

291.6

1.8 g/t × 162 m. An estimate for comparing intercepts only.

Assumptions: gram-metres = grade × drilled length. It ignores true width, cut-off grade, assay capping, metallurgical recovery and whether a result is historical. It is not a resource estimate or investment advice.

What comes next at Basin Gulch

Lannister Mining states that historical drilling and new work programs will be used in a future maiden mineral resource estimate, and that future drilling will concentrate on additional mineralized target areas within the property. The company is led by CEO and Director Jim Greig and a team it describes on its team page. Investor presentations are on the Invest page.

See how Basin Gulch compares with other explorers on the same criteria in the gold exploration companies guide.

Part of the gold oxide mineralization guide.

Common questions

Where is the Basin Gulch Property?: Basin Gulch is in west-central Montana within the historic Philipsburg Mining District. According to Lannister Mining, it has year-round access from Philipsburg, MT on paved and well-maintained gravel roads and is about one hour from Butte, MT.
How big is the Basin Gulch land package?: The consolidated 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, and Lannister Mining reports that about two-thirds of the property remains unexplored.
What are the best historical drill results at Basin Gulch?: Lannister Mining’s highlighted 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. These are historical results, not a current resource.
Is the Basin Gulch mineralization open?: According to Lannister Mining, gold-silver mineralization at Basin Gulch is open in multiple directions and at depth, open along strike, and untested regionally. The company says future drilling will concentrate on additional mineralized target areas within the property.
What is the Philipsburg Mining District known for?: Lannister Mining describes the Philipsburg district as the area that led the original US silver boom in the late 1800s. Montana is known as the Treasure State, and its first gold discovery occurred in 1852 at Gold Creek, near present-day Garrison.
Who runs Lannister Mining?: CEO and Director Jim Greig has more than 25 years of experience and was a founder, President and Director of Thesis Gold (formerly Benchmark Metals). CFO Kelvin Lee has over 15 years of financial management experience. Directors include Mario Vetro, a co-founder of K92 Mining, and geologists Jo Anne Price and Will Randall.
What is a gram-metre and why does it matter?: A gram-metre is grade multiplied by interval length, so 1.8 g/t over 162 meters equals 291.6 gram-metres. It puts a thick, lower-grade intercept and a thin, higher-grade one on one scale. It ignores true width and cut-off choices, so treat it as a quick screen only.

Read all 44 questions in the oxide gold FAQ

Investors and exploration partners can contact Lannister Mining about Basin Gulch and its planned resource work.

Contact Lannister Mining