Placer gold deposits of the Quesnel Highland region, including the former rich producers of the Barkerville Camp, have accounted for a large proportion of British Columbia's alluvial gold production. With the exception of a few producers in the Wingdam area, which are underlain by Upper Triassic sediments correlative with the Nicola Group, almost all the deposits are underlain by the Upper Proterozoic to Lower Paleozoic Snowshoe Group. These predominantly metasedimentary rocks have been metamorphosed to greenschist facies.

Placer gold deposits in the region are generally found in relatively young Pleistocene gravels. The morphology and mineral associations of the gold suggests that it was derived locally, the most obvious sources are the numerous auriferous veins in the Downey succession of the Snowshoe Group.

Placer gold at the Guyet Placer deposit has been produced by the hydraulicking of an old stream channel. The hydraulic pit shows about 3 metres of gravel resting on bedrock underneath about 45 metres of glacial material. The pit is near the contact between Snowshoe Group rocks and basaltic rocks of the Mississippian-Permian Antler Creek Formation (Slide Mountain Group). Production from 1911 to 1945 totalled 20,526 grams gold (Bulletin 28).

Approximately 4.5 kilometres upstream along Antler Creek near Monkton Creek, recent testing of gravels has been undertaken. From test pits the average thickness is assumed to be 2 metres of pay sand and gravel and the potential volume is estimated to be 2,600,000 cubic yards (1,987,960 cubic metres). Based on assay results, this volume is estimated to average $27.00 U.S. per cubic yard with gold at $400 per ounce (Property File - Big Strike Resources Prospectus Nov. 1988). Testing in adjacent areas by Canadian Gravity Recovery Inc. was unable to confirm these results (George Cross Newsletter #162, Aug. 1989).

"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).

The Guyet Placer was previously drifted on in the 1890s, then later hydraulicked until the 1950s. During the hydraulicking a pit was washed, measuring about 548 metres in length, 137 metres wide and 146 metres deep (estimated). All the overburden and pay gravels were washed down the gulch and into the 183 metre deep (estimated) Antler Creek Canyon.

In 2006, claim owner L.N. Baraniuk completed roadbuilding, digging of 3 pits from which material was tested, construction of a water intake pond, primary and secondary settling ponds, and a small wingdam.