Alluvial gravels derived from and overlying Upper Proterozoic-Paleozoic Snowshoe Group metasedimentary rocks, were deposited within creeks draining the region. The Crazy or Craze Creek placer deposit covers operations which extend for about 300 metres up Peter Gulch from its confluence with Craze Creek. No production records are available.

"Data from the Cariboo mining district indicate that supergene leaching of gold dispersed within massive sulphides by Tertiary deep weathering followed by Cenozoic erosion is the most likely explanation for the occurrence of coarse gold nuggets in Quaternary sediments" (Exploration in British Columbia 1989, page 147).