The Victor vein is located on the Terrace property, 2.1 kilometres south of the Columario mine workings (103I 077), on the north flank of Kleanza Mountain at an elevation ranging from 1152 to 1229 metres, approximately 15 kilometres east of Terrace.

The Victor and associated veins were historically described as the potential extension of the Columario mine vein system. The vein is exposed intermittently over a strike length of 115 metres, with an average width of approximately 0.5 metre.

Andesites of the Jurassic Hazelton Group are intruded by diorite stocks of the Cretaceous to Tertiary Coast Plutonic Complex. Quartz veins, striking northwest and dipping 45 to 60 degrees northeast, occur along fractures in both andesite and diorite. The veins are 0.5 to 0.8 metres wide and up to 120 metres long. Gold is associated with pyrite and a 0.5 metre sample of one vein assayed 21 grams per tonne gold and 6.5 grams per tonne silver (Geological Survey of Canada Memoir 212). A 0.9 kilogram sample sent for assay yielded 120 grams per tonne gold, 240 grams per tonne silver and 0.25 per cent copper (Minister of Mines Annual Report 1940).

The Nelson (also called the Victor or Haveroen) showing was prospected in 1939 and produced small shipments of high-grade material in 1940.

No documented work was done in the Columario area between the 1930s and 1984, when Endurance Minerals Inc. completed a soil sampling survey. The general level of gold in soil was found to be very low and it was difficult to establish any statistical parameters due to the lack of spread in the values. Only scattered individual samples gave high anomalous return.

In 1987 to 1988, Hillsborough Resources Ltd. re-established the road to the Columario mine site and rehabilitated a portion of the underground workings. The accessible portion of the workings were geologically mapped and sampled. Since 1988, no work has been done on the Columario property until Argonaut optioned the ground (Assessment Report 33170).

In 2011, nine surface channel samples were collected across the vein width along 113 metres of the 115 metre exposed Victor vein strike length. The surface samples returned significant gold results, with the best result being 72.4 grams per tonne gold and 10.2 grams per tonne silver across a 0.3 metre vein width (Press Release - Argonaut Exploration Inc., November 29, 2012). In 2012, Argonaut Exploration conducted an exploration program on the Victor vein. Diamond drilling of NQ-size drillcore totaled 725.4 metres. Drillhole CV12-01, with the widest and highest grade gold intercept, was located beyond the known surface outcrop of the Victor vein to the south. Highlights from this hole included a 1.2 metre interval grading 11.5 grams per tonne gold, 29.8 grams per tonne silver and 0.74 per cent copper, including a 0.12 metre interval grading 87.9 grams per tonne gold, 122 grams per tonne silver and 1.52 per cent copper (Press Release - Argonaut Exploration Inc., November 29, 2012).