The area of the Moly Taku-Y is underlain by units of the Upper Paleozoic Stikine Assemblage. In the immediate area of the prospect, the stratigpahy is intruded by a small stock of quartz diorite (and/or quartz monzonite) of the Late Cretaceous Windy Table Complex. A granite and alkali feldspar granite batholith of the Paleocene-Eocene Sloko-Hyder Plutonic Suite is in contact about 2 kilometres to the east.

Stikine rocks consist of Permian limestones, dolomitic limestones, and minor chert. These occur with fine-grained clastic sediments and intercalated volcanic rocks which are largely altered to greenstone and phyllite.

A new molybdenite-bearing zone, the Y zone, was found late in the 1979 season about 750 metres southeast of the area that had been previously been examined in detail. Location maps from Assessment Report 9085 and Figure 8 from Karelse (private Report for Optima Minerals 2006 (as reported in Assessment Report 29409)) show the only graphic representations of the Y zone or the Y zone drill site. The Y zone is reported as being downhill to the northeast of the drill site which 1980 drill logs indicate is at 1808 metres elevation.

The Y zone is about 600 metres southeast of the Mt. Ogden stock where the original zones occurs (104K 013). The zone occurs within a 150 metre long outcrop. The exposure consists of quartz-feldspar porphyry containing molybdenum-tungsten mineralization. Compositionally, the Y zone intrusion is similar to the Mt. Ogden stock but texturally it is a distinctly separate intrusive phase. Prominent and distinct quartz eyes and feldspar phenocrysts in an aphanitic matrix distinguish it from the Mt. Ogden alaskite stock. In 1980, a bulk sample from this zone assayed 0.073 per cent molybdenite (MoS2); and 0.084 per cent tungstic oxide (WO3). Traces of powellite have been detected under ultraviolet lamp, as well as scheelite (Assessment Report 9085).

In 1979 and 1980, drillhole Y-1 was drilled to 662.9 metres and Y-2, from the same set-up above the Y zone, was drilled to 332.5 metres. Both holes were collared in dark brown to black, banded meta-argillite which has loosely been called “hornfels” as a field term. A thin section of the hornfels showed a recrystallized texture and very fine (0.5 millimetre) bands or laminations of quartz-rich and biotite-rich mineralogy. Approximately one-third of the length of the hornfels section (to a depth of 607.8 metres) in hole Y-1 was intruded by dikes of andesite, dacite, felsite, alaskite, and quartz feldspar porphyry. These dikes vary from 4 centimetres to 25.4 metres in apparent width. The most important dikes in hole Y-l are the four quartz-feldspar porphyry dikes intersected between 486 and 596 metres. These porphyries are strongly altered to chlorite and sericite and contain 2-3 per cent disseminated and fracture pyrite. In general, alteration of the hornfels and dikes varied from weak to extremely strong and consisted of sericitization, chloritization, epidotization, silicification and K-feldspathization. Drillholes Y-1 and Y-2 both ended in alaskite of the Mt. Ogden stock. It was observed that this leucocratic granite was clearly later than the mineralization and alteration found in the upper sections of the drillholes. The alaskite is relatively fresh but does contain some disseminated molybdenite and quartz veins with molybdenite.

Mineralized quartz veins occurred throughout the drill core. The most common type of vein intersected was quartz-pyrite-pyrrhotite-sphalerite which also contains minor scheelite. Other common vein types were quartz-molybdenite, quartz-epidote-pyrite-magnetite-scheelite and quartz-magnetite-epidote. Quartz veins with pyrrhotite, chalcopyrite, and scheelite also occurs as well as quartz veins with just sphalerite or scheelite. Fluorite-bearing and magnetite-bearing veins were intersected in drillhole Y-1. Fracture-coating mineralization also occur but less commonly than mineralized veins. The fracture coatings include pyrrhotite, chalcopyrite, molybdenite, magnetite, sphalerite and pyrite.

Diamond-drill holes Y-1 and Y-2 intersected sections of a large halo of alteration, quartz veining and mineralization which is thought to be associated with a buried felsic stock. Both drillholes ended in the post-mineral Mt. Ogden alaskite stock which crops out to the north. Although an orebody was not intersected the following information was obtained:

(1) Molybdenite and scheelite-bearing quartz veins occur throughout the drill cores.

(2) Sericitization of the “hornfels” occurs throughout 600 metres of drillhole Y-l. Commonly this alteration results in sections of complete sericitization.

(3) Silicification, K-feldspathization, and chloritization all increase below 400 metres in depth in drillhole Y-1.

(4) The intensity of quartz veining increases with depth in both drillholes Y-l and Y-2.

(5) Fluorite-bearing and magnetite-bearing veins occur at depth in drillhole Y-1.

The molybdenum-tungsten mineralization is thought to occur within the "hood" zone of a buried stock.