Jurisdiction
Montana has been a mining state since the first territorial gold discovery at Gold Creek in 1852, and Lannister Mining's Basin Gulch Property sits in its historic Philipsburg Mining District.
Last updated:
The short answer
Montana is known as the Treasure State for its mineral wealth and a history built on mining that still plays an active role in its economy. Lannister Mining chose Basin Gulch in the Philipsburg Mining District, which led the original US silver boom in the late 1800s, with year-round road access from Philipsburg.
History
The first gold discovery in what was then the Montana territory occurred in 1852 at Gold Creek, near present-day Garrison. Since then silver, copper, nickel and platinum have all been discovered and mined, and Montana is home to large-scale producing operations today.
The Philipsburg Mining District, where Basin Gulch lies, led the original US silver boom in the late 1800s. That history means established roads and a nearby workforce in towns such as Philipsburg and Butte.
United States
According to Farmonaut, citing the USGS Mineral Commodity Summaries 2026, more than 40 lode gold mines in 12 states produced an estimated 160 tonnes of gold in 2025, worth about US$17 billion. Output fell from 187 tonnes in 2021 to 160 tonnes in 2025, while the average price rose from US$1,801 to about US$3,300 per ounce.
Source: Farmonaut, Active Gold Mines in the USA, citing USGS. For primary data see the USGS gold statistics page.
Lannister Mining is not a gold mining company in the operating sense; it is an exploration company with a US project. Basin Gulch holds near-surface, oxide-hosted gold-silver mineralization and more than 320 historical drill holes.
The company states that US-based companies with compliant resources trade at a significant premium to their peers. A Maiden Mineral Resource Estimate at Basin Gulch is how it aims to deliver compliant US ounces. Read the investor case.
Further reading
The Montana Bureau of Mines and Geology publishes geological information on the state. For the property itself, see the Basin Gulch Property, or return to the Lannister Mining home page.
FAQ
Montana is known as the Treasure State because of its wealth of mineral resources and a history built on mining. The first gold discovery in what was then the Montana territory occurred in 1852 at Gold Creek, near present-day Garrison. Silver, copper, nickel and platinum have since been discovered and mined.
The Philipsburg Mining District led the original US silver boom in the late 1800s, according to Lannister Mining. Basin Gulch sits in the heart of this historic district in west-central Montana.
Farmonaut, citing the USGS Mineral Commodity Summaries 2026, reports that more than 40 lode gold mines in 12 states produced an estimated 160 tonnes of gold in 2025, worth about US$17 billion. US mine output was 187 tonnes in 2021 by the same source.
Nevada is by far the larger US gold producer. Farmonaut, citing USGS data, reports Nevada made about 64% of US gold and Alaska about 22% in 2025. Montana is known as the Treasure State and has a mining history going back to the first gold discovery at Gold Creek in 1852.
Lannister Mining is an exploration company whose project is in the USA. The Basin Gulch Property is in west-central Montana, while the company office is in Vancouver, Canada. It is exploring for gold and silver rather than operating a mine.
Yes. Lannister Mining reports year-round access to Basin Gulch from Philipsburg, Montana, on paved and well-maintained gravel roads. The property is about one hour from Butte, which the company says makes the site accessible and open for business.