The Mineral Basin occurrence is located west of Cascade Creek, 25 kilometres north of Stewart, British Columbia. These crown granted claims were worked in 1934 by open cuts and an adit was driven.

Located in the Intermontane Belt, the area, bounded on the west by the Coast Crystalline Complex and on the east by the Bowser Basin, is part of the Stikinia Terrane.

The showing is hosted by the Upper Triassic to Lower Jurassic Hazelton Group Unuk River Formation metavolcanics. The Hazelton Group is a northwest trending steeply east dipping belt of folded andesitic lapilli tuffs, flows and breccia containing a thick sequence of argillite and siltstone infolded along a synclinal axis. The sequence is intruded by the Early Jurassic Texas Creek plutonic suite of dacitic porphyry dykes and sills, Eocene granitic Hyder intrusives and lamprophyre dykes.

Mineralization occurs in two parallel shear zones 27 metres apart. On the property the zones strike northwest, dip 60 degrees southwest and are cut by porphyry dykes. They have been traced for 61 metres.

An open cut in the east shear zone exposes a silicified, carbonatized and oxidized replacement zone 1 metre wide, mineralized with galena, sphalerite, pyrite and chalcopyrite. A sample across this zone taken in 1934 assayed 10.3 grams per tonne gold, 576.0 grams per tonne silver, 16 per cent lead, 6 per cent zinc and a trace of copper (Minister of Mines Annual Report, 1934).

From 2009 to 2020, Ascot Resources Ltd. conducted drilling and geophysical surveys in the Premier Gold project area. See Premier (104B 054) for details.