Banks Island Gold Limited discovered an area of gold, silver, molybdenum and copper mineralization in 2012 about 15 kilometres east of Stewart, British Columbia (Assessment Report 33873). The eastern arm of the Bromley Glacier at Lost Mountain had receded to the Cambria Icefield and exposed a recently de-glacierized valley they referred to as Lost Valley. This discovery is located 880 metres along the igneous/hornfels contact from the MacAdam Point showing (MINFILE 103P 220).

The MacAdam Intrusive is composed of a medium to coarse grained off-white quartz monzonite with large potash feldspar crystals (5 to 10 centimetres). Quartz veins have alteration haloes of pink potash feldspar (Rhys et al. 1995). The quartz monzonite has a hornfels zone with a shear zone at the contact. Two chip samples were collected, one over 5.0 metres with 6.2 grams per tonne gold, 22 grams per tonne silver and 0.40 percent molybdenum, the other over 3.0 metres with 0.1 gram per tonne gold, 12 grams per tonne silver, 0.45 percent molybdenum, and 0.1 percent copper. Two rockfall grab samples were collected closer to the MacAdam Point showing with the first having 71 grams per tonne gold, 197 grams per tonne silver, 1.1 percent copper and the second having 35 grams per tonne gold, 102 grams per tonne silver and 0.2 percent copper (Assessment Report 33873).

The Lost Valley area was prospected and 65 rock samples were collected from four areas (Centre, East Contact Zone, North, and South Contact Zone).