The 04PSC-174 occurrence is on the west ridge of Goldway Peak, about 900 metres northwest of the peak. It comprises a northerly- striking fault zone, marked by 3 metres of quartz-pyrite-altered rock, within pyroxene-rich volcanic sandstone, siltstone and breccia of the Upper Triassic Takla Group. A grab sample of this material yielded 1.134 grams per tonne gold, and 3.496 grams per tonne silver (Fieldwork 2004, pages 109-130). A different northerly trending alteration zone, 360 metres to the southeast, comprises about 5 metres of foliated quartz-sericite-chlorite-pyrite-altered volcanic sandstone. A sample of this material contained 0.138 gram per tonne gold, 1.821 grams per tonne silver, and 0.02 per cent copper (Fieldwork 2004, pages 109-130).

In 2004, staff of the Geological Survey Branch of BC completed the last year of a two-year bedrock mapping program on the Johanson Lake project. During this field season they collected sample 04PSC-174, one of three mineralized showings discovered.