The Placer Pit South showing comprises a mineralized quartz stockwork system exposed in the wall of a recent placer operation on the west bank of Grouse Creek, 5.5 kilometres southeast of Barkerville.

The back (west) wall of the placer pit exposes calcareous and pelitic phyllites. The strata, exhibiting a strong northeasterly dipping schistosity, comprise, from south to north, an ochre weathering, dolomite intercalated with thin phyllitic lamina, a phyllitic quartzite, a black phyllitic mudstone and another unit of phyllitic quartzite. The metasediments are part of the Upper Proterozoic-Paleozoic Snowshoe Group.

A stockwork resulting from the intersection of boudinaged, limonitic quartz stringers, subparallel to schistosity at 305 degrees dipping 70 degrees north, and a conjugate set of crosscutting, northwesterly dipping galena-rich quartz stringers occurs within the black phyllite. The galena-bearing stringers are 1 to 4 centimetres wide, spaced 15 to 30 centimetres apart, and are oriented at 205 degrees dipping 75 degrees west.

A composite grab sample of galena-rich quartz stringers yielded 5.7 grams per tonne gold, 109 grams per tonne silver and 2.18 per cent lead; and a 3.5 metre chip sample taken obliquely across the stockwork analyzed 1.57 grams per tonne gold, 1.6 grams per tonne silver and 0.059 per cent lead (Assessment Report 26603).

During 2000 through 2008, Golden Cariboo Resources Ltd. completed programs of prospecting, geological mapping, geochemical (rock, soil, moss and stream sediment) sampling, ground magnetic and self potential surveys, trenching and 60 diamond drill holes, totalling 28,710.0 metres on the area as the Golden Cariboo property. A complete summary of exploration programs can be found at the Cariboo Hudson (MINFILE 093A 091) occurrence.

In 2006, a sample (104839) collected from an oxidized zone assayed 46.3 grams per tonne gold and 21.6 grams per tonne silver (Brown, J. (2009-01-28): Technical Report on the 2000-2008 Exploration Programs on the Golden Cariboo Project).