Gold exploration explained
Last updated: · Published by Lannister Mining
A gold exploration company finds, tests and defines gold deposits before any mine is built, then reports what it finds under formal disclosure standards.
Lannister Mining is one example: a mineral exploration company focused on the Basin Gulch gold-silver property in Montana. This page explains how exploration companies work, how they differ from producers, and where Basin Gulch sits on that path.
An exploration company searches for and defines deposits; a mining company builds and runs mines that produce gold. Explorers usually fund work by selling shares, while producers earn revenue from metal sales. Lannister Mining is an explorer: Basin Gulch has not been mined out and has no resource estimate yet.
Definition card
A gold exploration company is a business that acquires mineral claims, studies geology, samples and drills rock, and works toward a mineral resource estimate. Its value rests on what it discovers rather than on production. Lannister Mining fits this definition: it holds 64 claims at Basin Gulch, has more than 320 historical drill holes to work from, and plans a Maiden Mineral Resource Estimate.
| Feature | Exploration company | Mining company |
|---|---|---|
| Main job | Find and define deposits | Build and operate mines |
| Revenue | Usually none | Metal sales |
| Key report | Drill results, resource estimates | Production and costs |
| Lannister Mining | Yes, at Basin Gulch | No production |
Secure the right to explore, through patented or unpatented claims. Basin Gulch has 64.
Compile past work. Basin Gulch has more than 320 historical drill holes.
Test rock at surface. Basin Gulch trenches report gold and silver over long lengths.
Confirm and expand known zones and test new targets.
Report a resource under NI 43-101 or S-K 1300. Basin Gulch's maiden estimate is planned.
Move to studies and permitting, or bring in partners and investors.
Industry
The United States has an active gold mining industry, and the US Geological Survey publishes national production data. Montana has a gold history dating to the 1852 Gold Creek discovery. Read the Montana gold exploration guide for more.
Environment
Mining can disturb land, affect water and create waste rock, which is why it is regulated. In Montana, the Department of Environmental Quality oversees permitting and reclamation. Exploration generally has a smaller footprint than mining, but drill pads and roads still require permits and reclamation.
Rankings
No single official ranking exists. Lists of top gold exploration companies usually sort by market value, project size or drill results and change often. This site does not rank companies. Lannister Mining's team has ties to K92 Mining, Fosterville South Exploration, Arena Minerals and Thesis Gold.
Disclosure
Explorers report through news releases. For example, Klondike Gold reported completing a hyperspectral scanning program across 22,352.1 meters of drill core at its Klondike District Project in the Yukon, per its own release.
See how this applies in practice at Basin Gulch, a gold exploration project in Montana.
A gold exploration company searches for, tests and defines gold deposits before any mine is built. It acquires claims, maps and samples rock, drills, and works toward a resource estimate. Lannister Mining is a gold exploration company focused on the Basin Gulch Property in Montana.
Read this answer in the full FAQAn exploration company finds and defines deposits, while a mining company builds and operates mines that produce gold. Explorers usually fund work by selling shares, while producers earn revenue from metal sales. Some explorers later become producers or sell their projects to producers.
Read this answer in the full FAQThere is no single official ranking; lists of top gold exploration companies usually sort by market value, project size or drilling results, and they change often. This site does not rank companies. Lannister Mining's team has ties to K92 Mining, Fosterville South Exploration, Arena Minerals and Thesis Gold.
Read this answer in the full FAQYes. The United States has an active gold mining industry, and Montana has a gold history dating to the 1852 Gold Creek discovery. The US Geological Survey publishes national gold production data. Lannister Mining explores for gold and silver at Basin Gulch in Montana.
Read this answer in the full FAQMining can disturb land, affect water quality and create waste rock, which is why it is closely regulated. In Montana, the Department of Environmental Quality oversees mine permitting and reclamation. Exploration usually has a smaller footprint than mining, though drilling and roads still need permits and reclamation.
Read this answer in the full FAQIt often takes many years, because discovery, resource definition, technical studies, permitting and financing each take time. Timelines vary widely by project and jurisdiction. Basin Gulch is at the stage of building toward a Maiden Mineral Resource Estimate.
Read this answer in the full FAQPublished by Lannister Mining
