The Penny Creek property is underlain by the Upper Proterozoic-Paleozoic Snowshoe Group (Downey succession) comprised of fine grained sericite schist, mudstones, argillites, shale, quartzite, and limestone lenses with gradational contacts.

The Copper Creek showing consists of several variably oriented quartz veins that occur within and east of a northerly striking fault system. The Penny Creek Vein is exposed across a width of about 10 metres on both banks of Penny Creek, about 215 metres above (east of) its confluence with Peter Gulch Creek. An adit was driven along the fault/vein system in the south bank of the creek sometime prior to 1938. The quartz veins contain variable amounts of pyrite, a little scheelite (GSC Paper 38-16) and locally galena (Assessment Report 19793).

A sample from an intensely fractured quartz vein with no visible sulphides yielded 12.69 grams per tonne gold and 2.8 grams per tonne silver across 1.1 metres. Another sample, from a quartz vein containing pyrite and galena, yielded 10.08 grams per tonne gold and 1.8 grams per tonne silver across 1.0 metres (Assessment Report 19793).

In 2004, a sample (166233) mineralized quartz vein from the Penny Creek vein drift assayed greater than 1.00 gram per tonne gold and 30 grams per tonne silver, respectively (Brown, J. (2009-01-28): Technical Report on the 2000-2008 Exploration Programs on the Golden Cariboo Project).

Work History

Between 1937-38, mining of the Penny Creek vein resulted in the shipment of 3.6 tonnes grading 216.3 grams per tonne gold and 35.4 grams per tonne silver (Assessment Report 24092). In 1994, Clansmen Resources Ltd. conducted geological mapping and sampling on their Cunningham Creek property which covers the Cariboo Thompson (093A 091), Skarn or Silver Mine vein (093A 090) and Penny Creek vein showings.

During 2000 through 2008, Golden Cariboo Resources Ltd. completed programs of prospecting, geological mapping, geochemical (rock, soil, moss and stream sediment) sampling, ground magnetic and self potential surveys, trenching and 60 diamond drill holes, totalling 28,710.0 metres on the area as the Golden Cariboo property. A complete summary of exploration programs can be found at the Cariboo Hudson (MINFILE 093A 091) occurrence.