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Mineral exploration usually moves through seven stages: target generation, early surface work, drilling, resource estimation, economic studies, permitting and development, and production.
The Basin Gulch Property has already been through historical surface work, trenching and more than 320 drill holes, so Lannister Mining is working at the drilling-to-resource stage: confirming historical intercepts and expanding drilling toward a Maiden Mineral Resource Estimate. Economic studies, permitting and production would come later, if results support them.
Published by Lannister Mining
This is the general sequence most gold and mineral exploration projects follow. Projects often loop back to earlier stages, especially more drilling, as new results arrive.
Choosing ground using geology, history and prior records, then acquiring claims.
Mapping, rock and soil sampling, geophysics and trenching to find mineralized zones.
Drilling to discover mineralization below surface, then to outline its size and grade.
A first formal estimate of tonnes and grade under a standard such as NI 43-101 or S-K 1300.
Preliminary and then more detailed studies of whether a mine could be economic.
Environmental review, permits, financing and construction.
Mining and processing, followed in time by closure and reclamation.
| Stage | Typical work | Basin Gulch status |
|---|---|---|
| Target generation | Select and acquire ground | Done: 11 patented and 53 unpatented claims, 1,107 ha |
| Early surface exploration | Mapping, sampling, trenching | Historical trenching done |
| Drilling | Discover and outline mineralization | More than 320 historical holes; confirmation and expansion planned |
| Resource estimation | First formal resource | Planned: Maiden Mineral Resource Estimate |
| Economic studies | Test mine economics | Not started on this site |
| Permitting and development | Permits, financing, construction | Not started on this site |
| Production | Mining and processing | Not started on this site |
Mineral exploration is the work of finding and testing concentrations of metals or minerals that could one day be mined. It runs from desk research and claim staking through sampling and drilling to a formal resource estimate. Most explored properties never become mines, which is why each stage acts as a filter and why mineral exploration companies report results stage by stage.
Gold exploration is mineral exploration aimed at gold, often with silver alongside it. At Basin Gulch, Lannister Mining is exploring oxide-hosted gold and silver mineralization in west-central Montana, with historical intercepts reported in grams per tonne, such as 1.8 g/t Au over 162 meters from surface.
The stages of mineral exploration generally run: target generation, early surface exploration such as mapping, sampling and trenching, drilling to discover and outline mineralization, resource estimation, economic studies, permitting and development, and then production. Projects do not always move in a straight line; many loop back to more drilling as new results arrive.
Basin Gulch is at the drilling-to-resource stage. Surface work, trenching and more than 320 drill holes were completed historically, and Lannister Mining now plans confirmation and expansion drilling that would feed a Maiden Mineral Resource Estimate. Economic studies, permitting and any development would come later and would depend on results.
A maiden mineral resource estimate is the first formal estimate of how much mineralized material a project contains and at what grade, prepared to a recognized reporting standard. For companies reporting in Canada that standard is NI 43-101; for US SEC reporting it is S-K 1300. Lannister Mining plans a Maiden Mineral Resource Estimate for Basin Gulch after confirmation and expansion drilling.
Confirmation drilling is new drilling designed to check historical results, usually by drilling close to old holes and comparing grades and widths. It lets a company use historical data with more confidence in a modern resource estimate. Lannister Mining plans confirmation drilling of historical drill intercepts at Basin Gulch alongside expansion drilling.
Moving from exploration to a producing mine commonly takes many years, because resource estimates, economic studies and permits each take time and depend on results. This site does not publish a Basin Gulch timeline. The current Lannister Mining investor presentation on lannistermining.com is the best place to confirm planned milestones and timing.
A gold exploration company searches for and tests gold deposits before any mine is built. It acquires claims, studies historical data, samples and drills, and works toward a mineral resource estimate that can support economic studies. Lannister Mining is a gold and silver exploration company focused on one project, the Basin Gulch Property in Montana.
