Mineral exploration explained
Last updated: Published by Lannister Mining
Mineral exploration usually moves through target generation, early surface work, drilling, resource estimation and then economic studies.
Each stage narrows uncertainty and costs more than the last. Basin Gulch, explored by Lannister Mining, already has more than 320 historical drill holes and is moving through confirmation and expansion drilling toward a maiden mineral resource estimate, the point where gold and silver are first formally quantified.
Desktop study of geology, past workings and regional data to pick areas worth testing.
Mapping, soil and rock sampling, trenching and geophysics to define drill targets.
Drill holes test targets at depth and measure grade over length.
Confirmation and infill drilling to support a compliant mineral resource estimate.
Preliminary economic assessment, then pre-feasibility and feasibility studies.
Permits, financing and construction ahead of any production decision.
Mineral exploration is the search for concentrations of metals or minerals that could one day be mined economically. It moves from broad, low-cost study to focused, high-cost drilling, and most projects stop before a mine is built. Gold exploration companies and mineral exploration companies in the USA, such as Lannister Mining at Basin Gulch, typically aim to grow a property's value by advancing it from one stage to the next.
Basin Gulch has passed target generation, surface work and initial drilling: Lannister Mining reports more than 320 historical drill holes and trench results with gold and silver. The property is now in resource definition, with confirmation and expansion drilling planned to support a maiden mineral resource estimate. Two-thirds of the property remains unexplored, so earlier stages continue on new ground at the same time.
A general guide. Timelines vary widely by property, budget and jurisdiction.
| Stage | Main question | Typical work | Basin Gulch status |
|---|---|---|---|
| Target generation | Where should we look? | Desktop study | Complete |
| Surface exploration | Is there mineralization at surface? | Mapping, sampling, trenching | Historical trenches completed; continues on unexplored ground |
| Exploration drilling | Does it continue below surface? | Drilling and assays | More than 320 historical holes |
| Resource definition | How much is there, at what grade? | Confirmation and infill drilling | Current focus, toward a maiden estimate |
| Economic studies | Could it be mined at a profit? | PEA, pre-feasibility, feasibility | Not yet started |
The USGS Mineral Resources Program publishes background research on US mineral deposits.
Mineral exploration generally moves through target generation, early surface work such as mapping and sampling, discovery drilling, resource definition drilling, a mineral resource estimate, and then economic studies such as a preliminary economic assessment and feasibility work. Basin Gulch has extensive historical drilling and is working toward its maiden mineral resource estimate.
More in the Basin Gulch FAQMineral exploration is the search for concentrations of metals or minerals that could one day be mined. It combines geology, geochemistry, geophysics and drilling to find and measure mineralization. At Basin Gulch, exploration means building on more than 320 historical drill holes and testing the two-thirds of the property still unexplored.
More in the Basin Gulch FAQGold exploration companies find, test and define gold deposits, then aim to prove their size and value. Their work includes claim acquisition, mapping, sampling, drilling and resource estimation. Lannister Mining is a gold exploration company whose work centers on one asset, the Basin Gulch gold-silver property in Montana.
More in the Basin Gulch FAQMany mineral exploration companies explore in the USA, especially in western states such as Nevada, Idaho and Montana. Lannister Mining is one of them, focused on the Basin Gulch gold-silver property in west-central Montana. This site covers Lannister Mining and Basin Gulch only and does not rank other companies.
More in the Basin Gulch FAQNI 43-101 is the Canadian standard for public disclosure of mineral projects, and S-K 1300 is the United States Securities and Exchange Commission standard. Both require technical reports signed by qualified persons. Lannister Mining states there is a clear market premium for gold and silver ounces in the USA reported under these standards.
More in the Basin Gulch FAQMineral exploration usually takes years, and moving from discovery to production often takes a decade or more, depending on the project and permitting. Basin Gulch starts from an advanced data position because of its more than 320 historical holes. The timing of its next milestones is set by Lannister Mining work programs.
More in the Basin Gulch FAQThis page was written by Lannister Mining, the company exploring Basin Gulch and the publisher of this site. Property figures are taken from Lannister Mining published materials and are stated exactly as reported, with historical results labeled as historical. General explanations describe common mineral exploration practice. Read the full methodology.
Published by Lannister Mining
