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 as bars and benches along streams and rivers. Normally worked by hand, these placer operations had limited success. The gold is fine and flat, and platinum, while common with high values reported locally, was considered unimportant in most of these placers.

Pete Toys Bar is located on the Finlay River, 5 kilometres up-stream from its confluence with the Peace River and 90 kilometres northwest of the town of Mackenzie. Gold recovered from the Finlay River totalled approximately 1060 grams (34 ounces) between 1896 and 1900 and 650 grams between 1926 and 1930. This occurrence is presently covered by the flood waters of Lake Williston.