The Chicago area is underlain by rocks of the Lower Jurassic Unuk River Formation (Hazelton Group). Rocks in the area consist of volcanic breccia and andesite tuff, with interbedded siltstone, argillite and conglomerate. The area lies within the Portland Canal dike swarm, which consists generally of granodiorite/quartz diorite dikes.

The Chicago South, Chicago North and Annalise zones are grouped together due to their proximity (Figure 4a, Assessment Report 31000).

The Chicago South zone appears to comprise several east-west to east-northeast trending zones of silicification and quartz veining. Its most eastern part is represented by a 20 meter-long massive, east-west trending quartz vein. The vein is 2 to 3 meters wide and, in parts, contains massive pyrite. The dip of the vein is uncertain but east-west fractures in the vein dip 60 degrees south. The vein cannot be traced further east, possibly due to a southwest trending fault.

The Chicago South area was drilled with 4 holes in 2007. These holes did not reflect the exceptional gold and silver values found on surface, so 3 more holes were drilled in 2008. Because the 2007 drilling unexpectedly intersected none of the surface mineralization, the 2008 holes were drilled directly over the zone. As the cross sections show, the highest grade part of the zone appears to be roughly 3 to 5 meters thick and is flat lying, with a lower grade zone extending up to 10 meters. Thickness varies greatly between the surface and the intersection in the vertical hole, HL0830. This supports previous thinking that the mineralization is pod-like and largely broken up by faulting and folding. Mapping shows this area to be more ductile and folded than other areas on the property.

In 2007 Ascot Resources chip sampled a large historical trench in the Chicago North area (about 100 metres north of Chicago South zone) resulting in 17 meters of 2.1 grams per tonne gold and 109 grams per tonne silver (Assessment Report 31000). Surface examination of the trench indicated a steeply dipping zone of strong silicification and pyrite, sphalerite and galena mineralization. Within the zone strong quartz stockwork dips steeply. The zone appeared to strike roughly east-west. Holes 1 and 2 were drilled to the west-southwest. Neither hole intersected the expected mineralized zone.

The Annalise zone was found through prospecting in 2008. It is about 200 metres southwest of the Chicago South zone. It is essentially part of a series of en echelon mineralized pods or slices that extend roughly west-southwest from Chicago South to the Granduc Road. Drilling revealed discreet high-grade zones: 16.87 grams per tonne gold, over 1.97 metres, 5.75 grams per tonne gold over 1.47 metres, and 12.77 grams per tonne gold over 1.27 metre (Assessment Report 31000).

In 2008, sampling of trenches on the Chicago South zone yielded results including 6.79 and 5.89 grams per tonne gold, 137.3 and 143.9 grams per tonne silver over 6.00 and 4.00 metres, respectively, from trenches T08-38 and T08-44, while a trench (T08-69) on the Annalise zone yielded 3.23 grams per tonne gold and 161.3 grams per tonne silver over 7.00 metres (Christopher, P.A. (2009-08-03): Technical Report on the Premier Gold Project).

See Yellowstone (MINFILE 104B 039) for related information and common work history.