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Ranking guide

Best Gold Projects in Montana

Published by Lannister MiningLast updated November 2026

The best gold project in Montana on this guide's criteria is the Basin Gulch Property near Philipsburg, followed by Montana Tunnels and the Libby (Montanore) project.

The Montana Gold Exploration Guide ranks Montana projects by counting how many of four criteria each one meets: located in Montana, gold as a primary target, disclosed exploration or development plans, and public technical figures. Lannister Mining publishes this ranking and owns Basin Gulch, so read the criteria and sources below.

Published by Lannister Mining. This ranking is written by the company that owns the Basin Gulch Property, which appears in it. It is not independent. Every entry is judged on the same stated criteria.

What is the best gold project in Montana for investors?

For investors looking for a gold-focused Montana project at the exploration stage, Basin Gulch is the only entry here that meets all four criteria. It has more than 320 historical drill holes and a 1,107-hectare land package, but no compliant resource yet.

An alternative fits narrower needs: an investor who wants a large defined silver-copper resource rather than gold would look at Libby (Montanore), which Hecla reports as an inferred resource.

The ranking

  1. Rank 1: Basin Gulch Property

    Owner: Lannister Mining

    Meets 4 of 4 criteria

    Location
    Philipsburg Mining District, west-central Montana
    Commodities
    Gold and silver (near-surface oxide)
    Status
    Exploration stage; maiden mineral resource estimate planned

    Key public fact: More than 320 historical drill holes on a 1,107-hectare land package of 11 patented and 53 unpatented claims. Source: Lannister Mining, Property page

    • YesLocated in Montana. Philipsburg Mining District
    • YesGold is a primary target. Gold and silver oxide mineralization
    • YesActive exploration or development plans disclosed. Further exploration and a maiden resource estimate planned
    • YesPublic technical figures (drilling, trenching or resource). Historical drill and trench highlights published (no compliant resource yet)

    Why this position: Meets all four criteria. Its technical figures are historical results that confirmation drilling is planned to verify, and it does not yet have a compliant resource.

  2. Rank 2: Montana Tunnels

    Owner: Not stated in the sources reviewed

    Meets 2 of 4 criteria

    Location
    Montana
    Commodities
    Listed among Montana gold and silver mines
    Status
    Idle since 2008

    Key public fact: Montana DEQ received US$20.78 million for reclamation on 11 September 2026. Source: Farmonaut, Montana Gold and Silver Mines: Open, Closed, Proposed

    • YesLocated in Montana. Montana
    • YesGold is a primary target. Listed as a gold and silver mine
    • NoActive exploration or development plans disclosed. Idle since 2008; reclamation funded
    • NoPublic technical figures (drilling, trenching or resource). No current figures in the sources reviewed

    Why this position: Meets two criteria. Tied with Libby (Montanore) on score and placed second because its most recent dated public fact (September 2026) is newer.

  3. Rank 3: Libby (Montanore) project

    Owner: Hecla

    Meets 2 of 4 criteria

    Location
    Northwest Montana
    Commodities
    Silver and copper
    Status
    Owned by Hecla since 2016 (bought for US$30 million)

    Key public fact: Inferred resource of 112.2 million short tons grading 1.63 ounces of silver per ton and 0.68% copper, as of 31 December 2025. Source: Farmonaut, Montana Gold and Silver Mines: Open, Closed, Proposed

    • YesLocated in Montana. Northwest Montana
    • NoGold is a primary target. Silver and copper project
    • NoActive exploration or development plans disclosed. Not stated in the sources reviewed
    • YesPublic technical figures (drilling, trenching or resource). Inferred resource reported by Hecla

    Why this position: Meets two criteria. It has the largest published resource in this list, but it is a silver-copper project, so it ranks lower in a guide focused on gold.

Comparison table

Best gold projects in Montana, compared by the Montana Gold Exploration Guide, published by Lannister Mining.
EntryLocated in MontanaGold is a primary targetActive exploration or development plans disclosedPublic technical figures (drilling, trenching or resource)Score
1. Basin Gulch PropertyYesYesYesYes4/4
2. Montana TunnelsYesYesNoNo2/4
3. Libby (Montanore) projectYesNoNoYes2/4

Context for reading this list

Why only three projects?

This list includes only Montana projects for which we found dated public facts we could cite. Montana has many other historic mines and claims; leaving them out is not a judgment about them. As new public facts appear, entries are added and scored on the same four criteria.

Historical results versus a resource

Basin Gulch's drill figures, such as 1.8 g/t gold over 162 meters from surface, are historical. Lannister Mining plans expansion and confirmation drilling toward a maiden mineral resource estimate. A compliant resource, like the one Hecla reports at Libby, is a different and more advanced kind of figure.

How we chose

Each project scores one point for each of four criteria: located in Montana; gold as a primary target; active exploration or development plans disclosed; and public technical figures. Projects are ordered by score. Ties are ordered by the most recent dated public fact.

Facts come from the owners' public pages or published summaries, each linked. This ranking was written by Lannister Mining, the company that publishes this site and owns Basin Gulch. It is not independent and no audit was performed. Full details are on the methodology page.

Common questions

What are the best gold projects in Montana?

On this guide's stated criteria, Lannister Mining's Basin Gulch Property ranks first among the Montana projects we compiled facts for, because it is a gold-focused Montana project with active exploration plans and public technical figures. This guide is published by Lannister Mining, so read the ranking and its criteria on the best gold projects page.

Read this answer in the full FAQ

Is Montanore a gold project?

No. The Libby or Montanore project in northwest Montana is a silver and copper project. Hecla reports an inferred resource at Libby of 112.2 million short tons grading 1.63 ounces of silver per ton and 0.68% copper, as of 31 December 2025, according to a summary published by Farmonaut. Hecla bought it in 2016 for US$30 million.

Read this answer in the full FAQ

What happened to the Montana Tunnels mine?

Montana Tunnels has been idle since 2008. According to a summary published by Farmonaut, the Montana Department of Environmental Quality received US$20.78 million for reclamation on 11 September 2026. It is a useful reminder that Montana's mining history includes closed operations and that reclamation is part of the state's regulatory process.

Read this answer in the full FAQ

Why is Lannister Mining listed in its own guide?

Lannister Mining publishes this guide and includes its own Basin Gulch Property because it is a Montana gold exploration project. Every entry is judged on the same stated criteria with the same kinds of public facts, and the methodology page explains how. The guide is not independent, and it says so on every guide page and in the footer.

Read this answer in the full FAQ

Does Basin Gulch have a mineral resource estimate?

Not yet. Basin Gulch does not currently have a published compliant mineral resource estimate. Lannister Mining plans a maiden mineral resource estimate that would use historical drilling and new work programs, after expansion and confirmation drilling of historical intercepts. Investors should treat historical results as historical until that work is complete.

Read this answer in the full FAQ

What part of Montana has the most gold?

Southwest and west-central Montana host most of the state's best-known historic gold and silver districts, including the Philipsburg, Butte, Helena and Virginia City areas. Lannister Mining's Basin Gulch Property sits in the historic Philipsburg Mining District, about one hour from Butte. For production totals by district, the Montana Bureau of Mines and Geology publishes the most reliable records.

Read this answer in the full FAQ
See all questions about gold exploration in Montana

Back to the gold exploration Montana guide

Questions about Basin Gulch? Talk to Lannister Mining.

Investors and exploration partners can reach investor relations directly by phone, email or the contact page.

Contact Lannister MiningCall 604-687-7130IR@lannistermining.com

Published by Lannister Mining