Project status
Where Basin Gulch stands today
Last updated:
Basin Gulch is an exploration-stage gold and silver project working toward a future maiden mineral resource estimate, built on more than 320 historical drill holes and new work programs.
Lannister Mining’s next steps at Basin Gulch are expansion and confirmation drilling of historical drill intercepts, then a maiden mineral resource estimate. The property has not been mined out, the Au-Ag mineralization is open in multiple directions and at depth, and future drilling will concentrate on additional mineralized target areas within the property.
Has a mineral resource estimate been published for Basin Gulch?
Not yet. A maiden mineral resource estimate for Basin Gulch is planned for the future, and the property has potential to host a significant one after expansion and confirmation drilling of historical drill intercepts. For now, the mineralization is described by historical drilling and trenching results.
What is a maiden mineral resource estimate?
A maiden mineral resource estimate is the first formal estimate of the tonnage and grade of mineralization on a property. It is prepared by a qualified person under a recognised reporting standard, such as Canada’s NI 43-101 or the US Securities and Exchange Commission’s S-K 1300, and it turns drill data into a defined body of mineralization. For Lannister Mining at Basin Gulch, the maiden estimate will draw on more than 320 historical drill holes together with new drilling. Lannister Mining’s materials reference both S-K 1300 and NI 43-101 technical report standards for gold and silver ounces in the USA.
What are the steps from historical drilling to a resource estimate?
- Historical dataset. More than 320 historical drill holes and trench results describe the known mineralization around the historic resource area.
- Expansion and confirmation drilling. New drilling tests historical drill intercepts and extends known zones that remain open at depth and along strike.
- Maiden mineral resource estimate. Historical drilling and new work programs are used in the first formal estimate for the property.
- New target drilling. Future drilling concentrates on additional mineralized target areas, including multiple high-priority targets near the historic resource and the two-thirds of the property still unexplored.
| Topic | Known today | Next step |
|---|---|---|
| Drilling | More than 320 historical drill holes | Expansion and confirmation drilling of historical intercepts |
| Resource | No mineral resource estimate published yet | Future maiden mineral resource estimate |
| Extent | Open at depth, along strike and untested regionally | Drill additional mineralized target areas |
| Land | 11 patented and 53 unpatented claims, 1,107 hectares | Explore the two-thirds of the property not yet explored |
| Mining history | Significant historical work; not mined out | Build a modern dataset on top of historical results |
When will the next Basin Gulch update come?
This website does not give dates for drilling programs or the maiden estimate, because none are set out in the facts presented here. The sequence is fixed, the timing is not stated. For the company’s latest project news, visit the Lannister Mining website.
The near-surface, oxide-hosted character of the mineralization gives significant implied flexibility in future mine design optimization, which is one reason the confirmation program focuses on the long intervals that start at surface. See the highlight historical intercepts and the overview of Lannister Mining among gold exploration companies.
Common questions
- What is a maiden mineral resource estimate?
- A maiden mineral resource estimate is the first formal estimate of the tonnage and grade of mineralization on a property, prepared by a qualified person under a recognised reporting standard. For Basin Gulch, Lannister Mining plans a future maiden estimate that draws on more than 320 historical drill holes plus new drilling.
- Has Lannister published a mineral resource estimate for Basin Gulch?
- Not yet. A maiden mineral resource estimate for Basin Gulch is planned for the future. The property has potential to host a significant maiden estimate after expansion and confirmation drilling of historical drill intercepts. Until then, historical drilling and trenching results describe the mineralization.
- What happens next at Basin Gulch?
- The next steps at Basin Gulch are expansion and confirmation drilling of historical drill intercepts, followed by a maiden mineral resource estimate. Future drilling will then concentrate on additional mineralized target areas within the property, including ground in the two-thirds of the land package that remains unexplored.
- What are NI 43-101 and S-K 1300?
- NI 43-101 is the Canadian standard for public disclosure of mineral project information, and S-K 1300 is the US Securities and Exchange Commission’s equivalent for mining property disclosure. Both require a qualified person to support technical reports. Lannister Mining’s materials reference both standards for gold and silver ounces in the USA.
- Are there exploration targets beyond the known mineralization?
- Yes. Basin Gulch has multiple high-priority targets near the historic resource, and two-thirds of the property is unexplored. The known mineralization is open at depth and along strike. Future drilling will concentrate on these additional mineralized target areas within the property after confirmation work.
- When will the Basin Gulch resource estimate be released?
- This website does not give a date for the Basin Gulch maiden mineral resource estimate, because no release date has been set out in the facts presented here. The estimate follows expansion and confirmation drilling of historical intercepts. Check lannistermining.com for the company’s latest project updates.