The Golden Loon 5 (GL-5) occurrence is located 3 kilometres southeast of Dum Lake and 4.5 (air) kilometres west of Little Fort. Good quality logging and bush roads provide access to the property.

The occurrence is a 10 centimetre-wide quartz vein hosted within the ultramafic portion of the Dum Lake Intrusive Complex. A sample (Assessment Report 15810) yielded 2850 ppb gold, 29.1 ppm silver and 3764 ppm lead.

Hostrocks are ultramafic intrusive rocks of the Triassic to Jurassic Dum Lake Intrusive Complex which consists of a mafic portion composed of diorite, gabbro, microdiorite and intrusion breccia, and an ultramafic portion composed of dunite, wehrlite, pyroxenite and serpentine. The Dum Lake Intrusive Complex is believed to be an Alaskan-type intrusive complex (Fieldwork 2000). It is in contact with granodioritic rocks of the Triassic to Jurassic Thuya batholith on the west. On its eastern side the Dum Lake intrusive rocks intrude siltstone, argillite, chert and limestone of the late Paleozoic Harper Ranch Group and mafic volcanic rocks, related volcaniclastic rocks, clastic sediment, chert and limestones of the Upper Triassic Nicola Group.

The earliest record of prospecting in the area dates from the 1920s when placer gold was recovered from the Eakin Creek Placer (092P 055). In 1967, Noranda Exploration Company (Assessment Report 1051) completed a soil sampling survey over the Kira claims after obtaining anomalous results in a reconnaissance stream sediment sampling program. The program outlined zones of anomalous copper and nickel. In 1973, Rio Tinto Canadian Exploration Limited completed another soil geochemical sampling program on the Dum Claim Group (Assessment Report 4689), outlining copper, zinc and lead anomalies west of Dum Lake. Teck Corporation reportedly (Assessment Reports 14237, 15870) staked the Minerva Group in 1980-81 on the west side of the Golden Loon Property and undertook a magnetometer survey and a soil geochemical survey, obtaining several silver anomalies. In 1984, The Golden Loon Claims were staked by Barnes Creek Minerals and a prospecting program undertaken (Assessment Report 14237). In 1985, additional prospecting was undertaken and magnetometer, VLF-EM and soil geochemical surveys completed (Assessment Reports 14920 and 15937). In 1987, Mineta Resources completed a program (Assessment Report 17342) which included soil geochemical surveys (548 samples), linecutting (34.6 kilometres), lithogeochemistry (18 samples), and stream sediment geochemical sampling (70 samples) and located some high grade float boulders as well as outlined some gold-in-soil geochemical anomalies. In 1988, Mineta completed 78.2 kilometres of linecutting, 61.0 kilometres of VLF-EM and magnetometer surveying and collected 1571 soil geochemical samples (Assessment Reports 18802 and 21109). In 1989, Mineta completed 25.0 kilometres of VLF-EM and magnetometer surveying, as well as soil geochemical (556 samples) and lithogeochemical (20 samples) surveys (Assessment Report 20029). In 1990, the property was optioned to Corona Corporation and an extensive program (Assessment Report 21014) of prospecting, geological mapping, soil geochemical sampling (637 samples) and geophysical surveys (25 kilometres of magnetometer and VLF-EM), trenching and diamond drilling (691 metres in 7 holes) was carried out. In 1992, Placer Dome Limited optioned the property, focusing on the porphyry copper-gold potential of the western portion of the property (Assessment Report 22818) and completed 20.0 kilometres of grid preparation, geological mapping and soil geochemical surveying (1083 samples). In 1996, Meteor Minerals Incorporated completed a program of geochemical soil sampling to test the potential of the enzyme leach technique in tracing mineralized zones in areas of extensive overburden (Assessment Report 24883). In 1997, Meteor completed a three-hole (393 metres) diamond drill program on the Golden Loon High Grade Zone (092P 141).