The Precisely gold occurrence is situated on the eastern side of Beaver Lake, approximately 3.5 kilometres east of Deadman Lake.
The area is underlain by argillite and andesite of the Upper Triassic Nicola Group exposed in a window through Miocene plateau basalts, which blanket most of the surrounding area. The argillite is interbedded with andesitic tuffs, augite porphyry and minor agglomerate (Assessment Report 14101). Nicola Group rocks are intruded by biotite quartz diorite, which is probably part of the Triassic to Jurassic Thuya Batholith (Geological Survey of Canada Memoir 363). The Nicola rocks are unconformably overlain by lacustrine and fluviatile sediments and volcanic ash of the Miocene Deadman River Formation to the west in the Deadman Valley. The youngest bedrock formations are Miocene olivine basalt flows of the Chasm Formation (Chilcotin Group).
Exploration has focused on three zones within the Precisely property: the Bridge (MINFILE 092P 211), Lake and Depression zones. The Lake zone occurs to the immediate east of Beaver Lake and is host to the Precisely occurrence, whereas the Bridge zone is situated across the Deadman River to the southwest of Beaver Lake and the Depression zone is situated approximately 750 metres northeast of Beaver Lake.
Stratigraphically, the Lake and Depression zones are very similar. At the Depression and Lake zones, mineralization consists of a chalcedonic quartz stockwork and calcite veining within an argillite breccia and a quartz vein hosted in andesite tuff. At the Lake zone, argillite and argillite breccia are interbedded with and overlain by andesite tuff, augite porphyry and minor agglomerate. Pyrite occurs as disseminations in argillite and as subhedral to euhedral crystals in quartz veins. The Lake zone has been exposed over an area of approximately 75 by 250 metres.
In 1985, an assay of 1.8 grams per tonne gold was obtained from a rockchip sample taken from an outcrop or old trench on the Lake zone (Assessment Report 14101). Other rockchip samples, collected during the 1985 exploration program on the Lake zone, assayed up to 0.56 gram per tonne gold over 2 metres, whereas samples from the Depression trenches yielded up to 1.5 grams per tonne gold over 1 metre and 13.7 grams per tonne gold in grab samples (Property File - G.R. Peatfield [1986-08-01]: Report - EPI Mineral Property).
The discovery of the Vidette gold mine in the 1930s sparked exploration interest in the area. The earliest known work on the property dates from the 1930s, or possibly earlier, when prospecting pits were excavated on some of the showings.
The Precisely claims were staked by Michael Dickens in 1983 following the discovery of gold-bearing quartz stockworks. The property was optioned by Inter-Pacific Resource Corporation. In 1984, MineQuest Exploration Associates Limited carried out a program of geological mapping, prospecting, rockchip sampling (79 samples), soil sampling (1286 samples), linecutting (14.4 kilometres) and magnetometer (7.95 kilometres) and very low frequency electromagnetic (2.95 kilometres) geophysical surveying on behalf of Inter-Pacific Resource Corporation. In 1985, MineQuest Exploration carried out an additional program of rockchip sampling (32 samples), soil sampling (1260 samples), linecutting, induced polarization surveying (14.3 kilometres), magnetometer (28 kilometres) and very low frequency electromagnetic (28 kilometres) geophysical surveying, reverse circulation percussion drilling and diamond drilling. In total, 20 reverse circulation drill holes, totalling 9005 metres, and 4 NQ diamond drill holes, totalling 183 metres, were completed, 12 of which intersected zones of mineralized quartz veining and alteration in quartz diorite.
Placer Development Limited later re-optioned the property from Inter-Pacific Resources Limited and completed additional induced polarization surveys (12 kilometres) and four diamond drill holes totalling 526 metres in 1986. In 1987, Placer Development completed additional rockchip and soil geochemical surveying, geological mapping and magnetometer and very low frequency electromagnetic geophysical surveying. In total, 29 rock samples, including five float samples, were collected and sent for assay; however, the assays did not return any significant results.
The property was later acquired by Johan T. Shearer as the High Ox property. Between 2010 and 2011, Shearer conducted an exploration program consisting of area reconnaissance, road traverses and prospecting on behalf of Homegold Resources Limited. Minor evidence of past exploration was discovered during prospecting, including one old drillhole and a pile of split core near Beaver Lake. The property was then optioned to Clear Creek Ventures Limited in late 2011. Between December 2011 and May 2012, Shearer completed a program of prospecting and very low-frequency electromagnetic and ground magnetic geophysical surveying on behalf of Clear Creek Ventures. Later in 2012, Shearer conducted additional prospecting on the property.
