The Cariboo Thompson property is located along Peter Gulch Creek, just north of its confluence with Penny Creek. The area is reached from the 3100 logging road, which branches south from the Bowron Lake road just a few hundred metres from its start at Highway 26 (the Barkerville Highway) less than one kilometre north of Barkerville.
The geology of the region consists of dominantly metasedimentary Hadrynian to Paleozoic(?) Snowshoe Group rocks, which occur within the Barkerville Terrane of south-central British Columbia. The metasedimentary rocks consist primarily of marble, quartzite and phyllite which in the area of the Cariboo Canyon showing (093A 056) comprise the Downey succession (informal name). Metamorphism of the region varies from chlorite grade to sillimanite and higher. The lode gold deposits of the region occur in rocks metamorphosed no higher than greenschist facies.
Located in the same area as the Skarn occurrence (93A 090), mineralization at the Cariboo Thompson showings consists of north striking quartz veins within quartzite. The veins, which vary in width up to 3 metres, contain galena, sphalerite, scheelite, arsenopyrite and pyrite. A small sample (four tonnes) mined in 1937 from the Wendle vein yielded 933 grams of gold, 311 grams of silver, 69 kilograms of lead and 22 kilograms zinc. It appears, however, that the gold content of most of these veins is low.
Recent drilling results report an assay of 26.60 grams per tonne gold over 3.04 metres of the Coniagas vein (George Cross Newsletter #88, May 8, 1989).
Golden Cariboo Resources conducted reconnaissance level exploration on their Golden Cariboo land package in 2001 and 2003 consisting of geological mapping and prospecting with concurrent rock and soil geochemical sampling. In addition, soil grids were established at Maude Creek on the Au property, Shy Robin Gulch on the G property, and at Cunningham Creek on the Cariboo Hudson (093A 071) property. In 2004, Golden Cariboo investigated gold-bearing pyritic quartz veins within quartzites and lesser volcanics of the Downie succession along Peter Gulch and Cunningham creeks. Diamond-drill holes GC04-01 and 02 were drilled along Peter Gulch Creek on the Cariboo Hudson property. The second hole (GC04-02) was sited to investigate a northeast striking mercury-in-soils anomaly that resulted from Golden Cariboo's 2003 Cunningham soil survey. Drillhole GC04-02 intersected a quartz vein section over 12 metres thick, with gold-bearing pyrite and arsenopyrite mineralization. This is thought to be the southern extension of the "Varicose vein" which is exposed in a trench on the Conag claim a few hundred metres northwest. One of the best gold values in GC04-02 was 2.1 metres grading 5.03 grams per tonne gold (Assessment Report 27644).
The Coniagas and Varicose showings are north striking, gold-bearing quartz veins located in Peter Gulch, just north of the Cariboo Hudson property. Adits and tunnels in the Coniagas area (in Peter Gulch) between Penny and Craze creeks were worked in the early 1950s.