Philipsburg Mining District, Montana

The Basin Gulch Property

Last updated: November 2026

Basin Gulch is a gold and silver exploration property near Philipsburg, Montana, held by Lannister Mining. It sits primarily on patented land, its mineralization is hosted in oxides, and more than 320 historical drill holes have tested it, yet two-thirds of the property remains unexplored.

What makes the Basin Gulch Property worth exploring?

Basin Gulch is worth exploring because it combines a large historical drill database with mineralization that is still open. Lannister Mining reports the gold and silver mineralization is open at depth, along strike and untested regionally, and that the property has potential to host a significant Maiden Mineral Resource Estimate after expansion and confirmation drilling of historical intercepts.

The land package is consolidated: a core of 11 patented mining claims is surrounded by 53 unpatented claims, for 1,107 hectares in total, with multiple high priority targets near the historic resource area. The company states the asset has seen significant historical work and has not been mined out.

Map of Montana showing the location of the Basin Gulch Property near Philipsburg and Butte — Basin Gulch sits in west-central Montana, about one hour from Butte.

Access

How do you get to Basin Gulch?

The Basin Gulch Property has year-round access from Philipsburg, Montana on paved and well-maintained gravel roads, and it is only about one hour from Butte. For an exploration program, year-round road access means drill rigs, crews and samples can move without waiting for a short summer season, which keeps programs practical for Lannister Mining and for any exploration partner. Philipsburg also gives its name to the surrounding mining district, one of the most historic in the state.

Land

Patented core, unpatented surround

The property is underlain by a core of 11 patented mining claims surrounded by 53 unpatented mining claims, totaling 1,107 hectares. A patented claim is private land where full title has passed from the US federal government to the holder; an unpatented claim carries the right to explore and develop minerals on federal land. Basin Gulch is primarily on patented land, which Lannister Mining highlights as a feature of the asset.

Historical drilling at Basin Gulch

More than 320 historical drill holes have been completed at Basin Gulch. The highlight intersections below, as reported by Lannister Mining, include long intervals starting at surface and narrow high grade intervals. They are historical results and are not a current mineral resource; confirmation drilling is part of the company's plan.

Historical drill logBasin Gulch highlight intercepts, drawn to scale by drilled length

0.66 g/t Auover 326 m (1,069.6 ft), from surface
1.8 g/t Auover 162 m (531.5 ft), from surface
3.2 g/t Auover 72 m (236.2 ft), from surface
25 g/t Auover 14 m (45.9 ft)
156 g/t Auover 3 m (9.8 ft)

Historical results as reported by Lannister Mining. Lengths are drilled lengths. These figures are not a current mineral resource.

Historical trench highlights

Trenching exposes bedrock so it can be sampled continuously. Lannister Mining reports these historical trench highlights, which include both gold and silver values.

Basin Gulch historical trench highlights, as reported by Lannister Mining
Grade	Length (meters)	Length (feet)
62 g/t Au and 32 g/t Ag	159	521.7
4 g/t Au and 23 g/t Ag	146	479
25 g/t Au and 45 g/t Ag	61	200.1
5 g/t Au and 54 g/t Ag	34	111.6

Open at depth, along strike and untested regionally.

Lannister Mining

Exploration upside

With two-thirds of the Basin Gulch Property still unexplored, Lannister Mining sees substantial exploration upside beyond the area covered by historical drilling. Future drilling will concentrate on additional mineralized target areas within the property, alongside expansion of the zones that remain open at depth and along strike.

Montana, the Treasure State

Montana is known as the Treasure State because of its mineral wealth and a history built on mining, an industry that remains active in the state's economy. The first gold discovery in the Montana territory occurred in 1852 at Gold Creek, near present-day Garrison. Silver, copper, nickel and platinum have since been discovered and mined, and the Philipsburg Mining District led the original US silver boom in the late 1800s.

Questions about the Basin Gulch Property

Short answers to common questions. The full list lives on the Lannister Mining FAQ.

Where is the Basin Gulch Property?: The Basin Gulch Property is in the historic Philipsburg Mining District of west-central Montana, a district that led the original US silver boom in the late 1800s. It has year-round access from Philipsburg on paved and well-maintained gravel roads and is about one hour from Butte.
What is the difference between patented and unpatented mining claims?: A patented claim is one where the US federal government has passed full title to the claim holder, so it is private land. An unpatented claim gives the right to explore and develop minerals on federal land while the government keeps title. Basin Gulch is primarily on patented land. The US Bureau of Land Management can confirm claim rules.
How many holes have been drilled at Basin Gulch?: More than 320 historical drill holes have been completed at the Basin Gulch Property. Lannister Mining reports that the mineralization remains open at depth and along strike and that the wider region is untested, so the historical holes cover only part of the property.
Is the gold at Basin Gulch near surface?: Yes, several highlight results start at surface. Historical intercepts of 1.8 g/t Au over 162 meters, 0.66 g/t Au over 326 meters and 3.2 g/t Au over 72 meters were all reported from surface. Lannister Mining describes the gold and silver mineralization as high grade, near surface and oxide-hosted.
Can the Basin Gulch Property be reached year-round?: Yes. The Basin Gulch Property has year-round access from Philipsburg, Montana on paved and well-maintained gravel roads, and it is about one hour from Butte. Year-round access matters for exploration because drilling and field crews can work across more of the calendar.
Has Basin Gulch been mined out?: No. Lannister Mining states that Basin Gulch has seen significant historical work but has not been mined out. The historical record is mainly drilling and trenching, more than 320 drill holes, rather than extraction, which is why the company sees it as a resource development opportunity.

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