Gold and platinum placer occurrences found in the Finlay, Parsnip and Peace rivers have been worked since the first discovery by Bill Cust in 1861. The placers generally occur in the top 1.5 to 3 metres of reworked glacial gravels deposited in streams and as benches along streams. Normally worked by hand, these placer operations had limited success. The gold is fine and flat and platinum is common with local high values reported, but it was considered unimportant in most of these placers.

The Parsnip River occurrence is located on the Parsnip River, 2 kilometres north of the Nation River confluence and 30 kilometres down stream from Bill Custs bar (093O 003). A 150 by 30 metre area was worked on the west bank of Parsnip River. In the 1920's and 1930's, the Ministry of Mines reported that numerous individuals were working the gravels of Parsnip River and recovering fine gold (and platinum in much smaller amounts than gold). Prior to 1931, production records were poorly kept. Between 1931 and 1940, 6220 grams of gold were recovered from placers on the Parsnip River. The occurrence is now flooded by Lake Williston.