Technical summary
Lannister Mining reports more than 320 historical drill holes at Basin Gulch, with highlight intersections including 1.8 g/t gold over 162 meters from surface.
Last updated:
The short answer
The longest highlighted intercept published by Lannister Mining is 0.66 g/t gold over 326 meters from surface, and the highest grade is 156 g/t gold over 3 meters. Several highlights start at surface. These are historical results that the company plans to confirm and expand before preparing a Maiden Mineral Resource Estimate.
Drill holes
| Gold grade | Length (meters) | Length (feet) | Note |
|---|---|---|---|
| 1.8 g/t Au | 162 m | 531.5 ft | From surface |
| 0.66 g/t Au | 326 m | 1,069.6 ft | From surface |
| 3.2 g/t Au | 72 m | 236.2 ft | From surface |
| 156 g/t Au | 3 m | 9.8 ft | |
| 25 g/t Au | 14 m | 45.9 ft |
Trenches
| Gold and silver grade | Length (meters) | Length (feet) |
|---|---|---|
| 62 g/t Au and 32 g/t Ag | 159 m | 521.7 ft |
| 4 g/t Au and 23 g/t Ag | 146 m | 479 ft |
| 5 g/t Au and 54 g/t Ag | 34 m | 111.6 ft |
| 25 g/t Au and 45 g/t Ag | 61 m | 200.1 ft |
Each line pairs a grade, in grams of gold (Au) or silver (Ag) per tonne of rock, with the length of core or trench that carried that grade. A long intercept from surface, such as 1.8 g/t gold over 162 meters, says the mineralization is both thick and shallow. A short, very high grade result, such as 156 g/t gold over 3 meters, points to a narrow, richer zone.
These are selected historical highlights, not averages and not a mineral resource estimate. Lannister Mining plans expansion and confirmation drilling of historical intercepts before preparing a Maiden Mineral Resource Estimate under a recognized standard such as NI 43-101 or S-K 1300. Lengths are reported intervals and may not equal true width.
What comes next
The Au-Ag mineralization at Basin Gulch is open in multiple directions and at depth, according to the company. Historical drilling and new work programs will feed a future Maiden Mineral Resource Estimate, and future drilling will concentrate on additional mineralized target areas within the property.
For the full context of the land package and access, see the Basin Gulch Property overview, or return to the Lannister Mining home page.
FAQ
Highlight historical intersections published by Lannister Mining include 1.8 g/t gold over 162 meters from surface, 0.66 g/t gold over 326 meters from surface, 3.2 g/t gold over 72 meters from surface, 156 g/t gold over 3 meters and 25 g/t gold over 14 meters. These are historical results.
g/t means grams per tonne, the amount of gold in a tonne of rock. A result such as 1.8 g/t gold over 162 meters, published by Lannister Mining for Basin Gulch, describes both grade and the length of the intercept. Longer intervals near surface are often of interest for open pit evaluation.
Oxide mineralization is rock that has been weathered near surface, so sulfide minerals have broken down. In general, oxide gold can be easier to process than sulfide-hosted gold. Lannister Mining reports that Basin Gulch mineralization is hosted in oxides and sits near surface.
A maiden mineral resource estimate is the first formal estimate of the tonnage and grade of a deposit, prepared under a reporting standard. In the US that is S-K 1300; in Canada it is NI 43-101. Lannister Mining plans one for Basin Gulch after expansion and confirmation drilling.
More than 320 historical drill holes have been completed at Basin Gulch, according to Lannister Mining. The company plans to use this historical drilling, together with new work programs, in a future Maiden Mineral Resource Estimate after expansion and confirmation drilling of historical intercepts.