The Discovery Creek (Tatlayoko Lake Gold) occurrence is located approximately 2 kilometres north of Homathko Peak at an elevation of 1650 metres, 14 kilometres southwest of the southern end of Tatlayoko Lake.

In the area of the Discovery Creek prospect Late Jurassic tonalite and quartz diorite of the Homathko Peak tonalite body is thrust north over the metamorphic Late Triassic to Cretaceous Eastern Waddington thrust belt imbricate zone which is thrust north over the Lower Cretaceous Ottarasko Formation. The Discovery Creek prospect occurs just south of the thrust fault forming the Ottarasko-East Waddington boundary; the Chopper showing occurs at the same thrust boundary about 750 metres to the east-northeast of the Discovery Creek prospect.

Locally, quartz-ankerite-pyrite veins contain massive arsenopyrite with minor chalcopyrite, galena and sphalerite. Significant gold and silver values are erratic, and are related to the presence of arsenopyrite. Free gold is also reported in the Discovery vein. Mineralization and alteration are concentrated in the upper, more felsic part of a differentiated sill composed of quartz diorite to granite. The sill intrudes the upper plate of a thrust that placed metamorphosed volcanics on unmetamorphosed Lower Cretaceous volcanic and sedimentary rocks.

This quartz diorite to granite sill outcrops in the metamorphic imbricate thrust sheet, south of the Lower Cretaceous rocks. It appears to be differentiated, becoming more felsic (granitic) at the top (towards the south). This upper felsic portion is strongly and pervasively altered, comprising quartz, iron carbonate (presumed to be ankerite), sericite and fine, disseminated pyrite. Locally it is oxidized to limonite. Quartz-ankerite-pyrite veins and lenses are widespread; locally they form major veins 10 to 20 metres long and 1 metre thick. Veins also occur up to 700 metres away in otherwise unaltered parts of the sill and the country rocks.

The alteration zone and most of the veins within it are concordant with the layering and structural fabrics, striking east-northeast and dipping about 50 degrees south. It is about 900 metres long and 15 to 30 metres wide on the surface. The degree of alteration appears to be related to the composition of the sill (favouring the more felsic top) rather than to the intensity of structural conduits like fractures; this suggests that it results from late magmatic, carbonate-rich hydrothermal fluids in a mesothermal environment (Assessment Report 18977). There are geochemical variations in the alteration zone. Gold, silver and arsenic are higher to the east, whereas zinc is higher to the west, where a quartz-ankerite vein was analyzed at 0.64 per cent zinc (Assessment Report 18977).

Investigation of the Discovery Creek prospect area by Transition Metals in 2010 located a 20 to 60 metre wide exposure of stockwork of quartz ankerite veining over a strike length of approximately 200 metres, beyond which the unit dips under deposits of overburden. Quartz veining ranging from a few millimetres to to 2 to 3 metres in width are widely distributed throughout the Homathko Porphyry composing between 1 and 50 per cent of the rock volume accompanied by pervasive carbonate and sericite alteration. Near the sheared contact between the Homathko Porphyry and the Camp Volcanics, discontinuous quartz carbonate veinlets oriented in the plane of shearing up to 3 metres in width traceable along strike for up to 30 metres were observed. Similarly oriented discontinuous veining in shear structures developed within the Camp Volcanics was also observed.

In 1964, sampling of the veins exposed in the C zone yielded from 0.3 to 4.8 grams per tonne gold, whereas a 30-centimetre-wide vein from the B zone hosting massive arsenopyrite and pyrite assayed 223.7 grams per tonne gold and 160.7 grams per tonne silver (Property File - J.J. McDougall [1965-03-10]: Preliminary Report on Homathko Gold Prospect, Homathko River, B.C.).

In 1965, sampling of the Discovery vein (A zone) yielded up to 383.0 grams per tonne gold and 194.9 grams per tonne silver over 15 centimetres, whereas the average of 24 samples from nine or ten veins in the area yielded approximately 17.1 grams per tonne gold over 30 to 35 centimetres (Property File - J.J. McDougall [1966-01-07]: Report on Homathko Gold Prospect 1965).

In 1975, samples from the ‘11 ounce’ vein yielded up to 581.4 grams per tonne gold over 20 centimetres, whereas a 0.9-metre sample from the Contact vein yielded 21.9 grams per tonne gold (Property File - New Pyramid Gold Mines Ltd. [1975-04-01]: Gold Claims Near Tatlayoko Lake).

In 1989, the highest value of gold recorded was 64.5 grams per tonne, from a composite of grab samples taken over 10 metres from a sulphide-bearing quartz vein 10 to 80 centimetres thick (Assessment Report 18977). This vein also contained 10.1 grams per tonne silver, 0.12 per cent zinc and 0.18 per cent lead (Assessment Report 18977). Another quartz vein sample contained 17.1 grams per tonne silver and 0.39 per cent copper (Assessment Report 18977).

In 2010, two rock samples (E241886 and E241885) assayed 87.5 and 15.1 grams per tonne gold with 45.7 and 1.4 grams per tonne silver, respectively (Assessment Report 32197). The following year, a rock sample (L781102) assayed 25.8 grams per tonne silver and 0.99 per cent copper (Assessment Report 33110).

WORK HISTORY

In 1964, a reconnaissance team lead by James McDougall of Falconbridge landed on the north slope of Mt Homathko to investigate an exposure of rusty quartz veining located at the base on a retreating ice field. Rocks collected during this stop returned highly elevated values of gold in grab samples from rock outcropping on the property.

In 1965, a party returned to stake the property as the Horn claims and conducted a 3-week program of prospecting and sluice trenching. The work identified a broad zone of auriferous quartz/carbonate veins hosting values up to 377.15 grams per tonne gold (11 ounces per ton) (Assessment Report 11770). A program of trenching and blasting, along 15 metres, was completed on the main vein.

In 1974, the site of the Falconbridge discovery was visited and staked by Gerhard von Rosen as the "11 Ounce” mineral claims who observed that most of the trenches exposed by Falconbridge had been buried. Assays taken from near the sloughed trenches “were confirmed to contain gold”.

In 1983, the F&S claims owned by R.R. Dion encompassed the original "11 Ounce" discovery showing of quartz sulphide veins carrying gold. Dion instructed Gerhard von Rosen to perform an air photo fracture density analysis which was conducted by D.A. Chapman (Assessment Report 11770).

In 1989, Golden Rule held the discovery showing within the Kor claim group and conducted a 3-day property, collecting 30 grab samples which returned gold values up to 64.46 grams per tonne. (Assessment Report 18977).

Records of these activities conducted by Falconbridge did not become publicly available until 2007, after private company records were donated to the BC Department of Mines and made available to the public.

In 2010, prospecting and mapping work completed by Transition Metals Corporation confirmed the location of the historical occurrence and traced an altered and mineralized mesothermal gold system over 1.5 kilometers of exposed strike on the north slope of Mount Homathko (Assessment Report 33110).

Further prospecting and mapping work was completed in 2011 and 2012 by Transition Metals in areas not previously evaluated and in areas proximal to the Discovery occurrence. Thirteen rock samples were collected for assay (Assessment Report 34198).

In 2015 a lineament and hyperspectral study was conducted by the Company using satellite imagery (Assessment Report 35546). In 2017, on the Homathko property 9 rock samples were collected by operator Shamrock Resources and owner Transition Metals Corporation in the Discovery Creek prospect area (Assessment Report 37245).