The Cole occurrence is located 3 kilometres east of Owen Lake, 34 kilometres south of the community of Houston and about 1 kilometre northeast of the Silver Queen mine (093L 002). The Cole vein system includes the Cole vein, Cole Shear, Bear vein, Copper vein, Barite vein and NGF-6 vein.

The area of the showings is primarily underlain by an Upper Cretaceous series of volcanic rocks of the Kasalka Group and intrusions of the Late Cretaceous Bulkley Plutonic Suite. The volcanic rocks consist mainly of dacites and dacitic andesites that are likely part of the Francois Lake Group (Tip Top Hill Formation) which are more recently thought to be correlative with Kasalka rocks. A sill-like body of microdiorite dated as 75.5, plus or minus 1.0 million years (N. Church, Bulletin 78, Table 2.3), intrudes these volcanic rocks.

The showings are mainly hosted by a kaolinized and pyritized dacitic volcanic breccia with the microdiorite lying to the west. Pulaskite dikes occur in the vicinity of some veins. At least five veins have been discovered that host sulphide minerals consisting mainly of sphalerite, galena and pyrite with some accessory chalcopyrite. The gangue is composed of cherty quartz, carbonate minerals such as rhodochrosite and some barite. Work on the showings has mainly been in conjunction with work on the adjacent Silver Queen mine (093L 002).

Concentrations of gallium, germanium and indium are also present. A recent resampling program returned average values of 22 grams per tonne gallium, 2.6 grams per tonne germanium and 23.35 grams per tonne indium (Assessment Report 32172).

The Diamond Belle vein was the focus of early exploration hosting the Cole shaft. The vein averages 0.6 to 0.9 metre in width, striking 130 degrees and dipping steeply over the central part, with the southern part striking easterly before pinching out against the pulaskite dike which strikes 150 degrees. Mineralization consists of sphalerite, galena, pyrite, and minor chalcopyrite in a gangue of quartz, carbonate, rhodochrosite and barite.

The Shear vein, near the east end of the Diamond Belle veins, strikes northerly and dips near vertically over an exposed length of 213 metres. The mineralization is patchy and appears to be the result of replacement and cavity infilling in a shear.

Vein mineralization striking southeast and parallel to the Diamond Belle, located 15 metres to the south, assayed 2.4 grams per tonne gold, 637.7 grams per tonne silver, 1.3 per cent copper, 2.2 per cent lead, and 5.5 per cent zinc over a 1.0 metre width.

The Bear vein, located 300 metres southwest of the Cole shaft, strikes south for approximately a 67-metre exposure. A chip sample across the vein yielded almost pure amber sphalerite with minor pyrite hosting modest precious metal values and cadmium.

The Barite vein, located 150 metres west of the Cole vein system, strikes southeast discontinuously for 107 metres in length. A gangue- rich sample over 107 centimetres width assayed trace gold, 92.6 grams per tonne silver, 0.04 per cent copper, 0.58 per cent lead, 1.1 per cent zinc, 12.9 per cent iron, 7.8 per cent manganese, 0.36 per cent calcium, trace cadmium, 0.07 per cent arsenic, and 0.03 per cent antimony.

The NGV vein, located in the southern part of the prospect area, strikes 160 degrees dipping 75 degrees northeast and is exposed for 50 metres. In 1970, a 76 centimetre piece of mineralized drill core assayed 1.37 grams per tonne gold, 447.5 grams per tonne silver, 0.17 per cent copper, 12.8 per cent lead, and 10.2 per cent zinc.

For more information on the exploration history see the Silver Queen (093L 002) occurrence.

Pre-1985 History - Cole Lake Property

In 1915, the Cole vein system was staked as the Diamond Belle group. In 1928, the property was acquired, along with the Silver Queen property, by the Owen Lake Mining and Development Company; the Cole shaft was sunk. In 1941, Canadian Exploration optioned the property and completed mapping and sampling; the option was dropped in 1943. In 1967, considerable trenching and some drilling was done on the Cole Lake veins by Frontier Explorations Ltd., who had acquired the ground in this area in 1960, and done minor work in the early 1960s. In 1972, Frontier Explorations did an electromagnetic survey, as well as percussion drilling and 457 metres of diamond drilling on the George Lake Lineament vein. In 1980, backhoe trenching was done by Frontier Explorations. In 1981, New Frontier sold all its mining interests to Bulkley Silver Resources Ltd., who attempted to raise money to complete the Earl adit which would intersect the Cole vein system at depth. Insufficient funds were raised and only 30.5 metres of this drive was completed.

In 2010, a program of geophysics (EM16), soil sampling and 4106.5 metres of NQ2 diamond drilling in 26 holes was conducted on the property. Two drill holes were completed on the Cole North zone yielded intercepts of 0.24 and 0.42 gram per tonne gold, 605 and 502 grams per tonne silver, 0.198 and 0.118 per cent copper, 1.51 and 0.849 per cent lead with 2.04 and 0.752 per cent zinc over 0.9 and 0.75 metre, respectively, in holes 10S-20 and 10S-19 (JDS Energy & Mining Inc. (2011-04-18): Technical Report for the Silver Queen Property).

In 2011, New Nadina Explorations Limited conducted ZTEM and Quantum 24 geophysical surveys. The aeromagnetic and electromagnetic survey covered 708.4 line-kilometres and covered all mineral occurrences on the Silver Queen property including: Silver Creek (Wrinch) (093L 002), Camp/Portal (new, 093L 371), Chisholm (093L 216), George Lake (new, 093L 370) and Cole (093L 162) systems and the Itsit porphyry (new, 093L 369).

Refer to Silver Queen (093L 002) for work history details between 1985 and 2011.