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Montana Gold Exploration GuideBasin Gulch, west-central Montana
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StatisticsPublished by Lannister MiningLast updated: November 2026

Gold exploration by the numbers

The United States produced an estimated 160 tonnes of gold in 2025 from more than 40 lode gold mines in 12 states, worth about US$17 billion, according to the USGS Mineral Commodity Summaries 2026 as summarized by Farmonaut.

This page collects published statistics that help explain the market Lannister Mining explores in, each with its source. They are not Lannister Mining's own figures. Basin Gulch property figures appear separately at the bottom, labeled as the company's own.

How much gold does the US produce?

About 160 tonnes in 2025, down from 187 tonnes in 2021, while the average gold price rose from US$1,801 to about US$3,300 per ounce over the same period (USGS, via Farmonaut). Output is concentrated: Nevada made about 64% of US gold and Alaska about 22% in 2025.

US gold statistics, USGS data as summarized by Farmonaut
StatisticPublished figureSource
US gold output, 2025An estimated 160 tonnes from more than 40 lode gold mines in 12 states, worth about US$17 billionUSGS MCS 2026, via Farmonaut
Change in US outputFell from 187 t in 2021 to 160 t in 2025USGS, via Farmonaut
Average gold priceRose from US$1,801 to about US$3,300 per ounce, 2021 to 2025USGS, via Farmonaut
Nevada share of US goldAbout 64% (2025)USGS, via Farmonaut
Alaska share of US goldAbout 22% (2025)USGS, via Farmonaut
Nevada Gold Mines outputAbout 2.59 million ounces in 2025 (100% basis, Barrick), roughly half of US outputBarrick, via Farmonaut

How did the largest mining companies perform in 2025?

For the world's top 40 mining companies, 2025 was a solid year, according to PwC's Mine 2026: Ambition to action report.

Top 40 global mining companies, 2025, as published by PwC
StatisticPublished figureSource
RevenueGrew 3.3% to US$909 billion, from US$880 billion in 2024PwC Mine 2026
EBITDASurged 23% to US$248 billionPwC Mine 2026
Net profitRose to US$120 billionPwC Mine 2026
EBITDA marginIncreased to 27% in 2025 from 23% the previous yearPwC Mine 2026

What do these numbers mean for gold exploration in Montana?

Reading the statistics

US mine output fell between 2021 and 2025 while the average gold price rose, per USGS figures. Most current US production comes from Nevada and Alaska. Montana is not named among the leading producing states in these figures, which describe output, not undiscovered potential. None of these statistics predict results at any single project, including Basin Gulch.

The USGS publishes its annual gold data on the USGS gold statistics and information page.

How we chose what to include

This page was written by Lannister Mining, the company that publishes this guide and explores Basin Gulch. Every project fact comes from Lannister Mining's own published materials. Market statistics are quoted as published, with their source named beside them. We do not rank other exploration companies, because we do not hold the same kinds of facts for them.

Read the full methodology

Common questions

What US state has the most gold in the ground?

Nevada produces the most gold in the United States. According to USGS figures summarized by Farmonaut, Nevada made about 64% of US gold in 2025 and Alaska about 22%. Production share is not the same as gold left in the ground, which no single published survey measures for every state.

See this answer in the full FAQ

How does Montana compare with Nevada for gold exploration?

Nevada is far larger by current output, making about 64% of US gold in 2025 according to USGS figures summarized by Farmonaut. Montana has a mining history reaching back to its 1852 gold discovery and hosts districts such as Philipsburg, where Basin Gulch sits. Both are established US mining jurisdictions at very different scales of production.

See this answer in the full FAQ

How are mineral exploration companies in the USA different from mining producers?

Mineral exploration companies in the USA find and define deposits, while producers operate mines and sell metal. Explorers usually have no production revenue and fund work by raising capital. For scale, PwC reports that the world’s top 40 mining companies earned US$909 billion in revenue in 2025. Lannister Mining is an explorer working toward a maiden resource.

See this answer in the full FAQ

Why do compliant US gold resources matter to investors?

Lannister Mining states there is a clear premium in the market for US gold and silver ounces reported in S-K 1300 and NI 43-101 compliant technical reports. That view is why the company is working toward a maiden mineral resource estimate at Basin Gulch. Market valuations change, so treat this as the company's own view.

See this answer in the full FAQ

Where in the US can I dig for gold?

You can look for gold in many western states, including Montana, Nevada, Alaska, California and Colorado, on public land open to casual collecting, at fee-dig sites, or with a landowner's permission. Check claim status first, because active mining claims belong to their holders. The Bureau of Land Management keeps mining claim records.

See this answer in the full FAQ
Read all 46 questions in the FAQ

Investors: learn the drill history, then ask for the briefing

Start with the 320+ historical drill holes at Basin Gulch and the plan toward a maiden mineral resource estimate. Then request the investor briefing from Lannister Mining.

Published by Lannister Mining