The Bonanza claim lies south of the Silver Lake - White Heather claims on Hudson Bay Mountain. The claim is underlain by Lower Jurassic Hazelton Group volcanics comprised mainly of andesite, andesitic flows, intercalated tuffs, and volcanic breccia. The showing consists of a quartz fissure vein in the breccia. Mineralization consists of bornite with minor sulphides mainly chalcopyrite and pyrite. The only development was small open cuts and some stripping.

WORK HISTORY

A group of 9 claims, including the Bonanza, Highland Chief, and Enterprise, was staked in this vicinity by a Mr. Loring and the Hankin Brothers, of Hazelton, in about 1905. In 1916 it was reported that open cutting and stripping had been done in the gulch in which the Bonanza showings are exposed.

The Trade Dollar group, comprising the Trade Dollar and Trade Dollar 1-3 claims, was staked in 1928 by Angus and Alex Chisholm and E. Hassard, adjoining the Silver Lake property. The main showing, at elevation 1980 metres, was found by a 1929 survey to be on the Silver Lake property. Lay describes another showing about 300 metres to the south "at the upper edge of Loring basin', which may be the old Bonanza showing (Minister of Mines Annual Report 1928).

In 2011, a surficial exploration program was completed on the Hudson Bay Mountain property by Lions Gate Metals Inc. from June to August 2011. Focus was given to locating and testing historical showings and investigating areas outlined by the 2008 Quest West airborne survey. Historic mineral occurrences on the property are: King Tut [093L 087] (prospect); Bonanza [093L 096] (showing); Silver Lake (L.7239) [093L 097] (Past Producer); Iron Vault (L.5754) [093L 098] (Past Producer); Mammoth (L.7249) [093L 100] (Prospect); Copper Queen (L.5751) [093L 101] (Developed Prospect); Josie (L.7251) [093L 229] (Prospect); and Silver Lake 2 (L.7240) [093L 231] (Past Producer).

Silt samples were collected from creeks within and draining the property and several soils grids were completed over areas of interest. A total of 122 rock samples were collected and submitted for assay over the 2011 field program. Samples were collected from areas of known mineralization as well as new areas. Results obtained from samples collected from known showings support historical results. Rocks samples were collected from King Tut, Iron Vault, Copper Queen, Josie, Silver Lake 2 and Silver Lake. Efforts were made to locate the Mammoth, Rachel, Vancouver and Bonanza showings but were considered unsuccessful.