My level 6 captain, created for the sole purpose of crafting, needed this for his Expert Cook quest. When I discovered it was a foraged object in a zone very unfriendly to level 6es, I said "well, that's dumb!"
Nonetheless, I decided to give it a whirl.
As it turns out, I never got aggro from a single mob, and running there didn't take anywhere near as long as I thought it would.
The loc of 31.4s, 36.1w was correct for me. Follow the slim dark path upwards.
See the map at the bottom of http://lorebook.lotro.com/wiki/Item:Mountain_Basil courtesy of yours truly!