The Fraser occurrence is located on the south side of Kate Ryan Creek, 7 kilometres southeast of Stewart. Various gossanous zones have been explored in the area for base and precious metals since 1919. The Fraser showing is one of three showings on the Rainbow property, the other two are the Wire Gold (103P 096) and the North Fork (103P 098) showings.

The showing is comprised of a number of tabular, pyritic and siliceous zones up to 20 metres long and a few metres wide. These are developed along shear zones that parallel a steeply dipping cleavage trending 090 to 120 degrees. The shear zones occur in a folded sequence of tuffs, sandstone, slate, and argillite with minor volcanic conglomerate, limestone and andesitic flows of the Lower Jurassic Unuk River Formation (Hazelton Group). These are intruded by northwest trending dikes 1 to 2 metres wide. Some of the pyritic zones are cored by 1 to 10 centimetre wide veins of massive pyrite and pyrrhotite and minor galena, sphalerite and trace tetrahedrite. A 2 metre chip sample six metres below the portal of the lower adit assayed 0.13 per cent copper, 0.44 per cent lead, 3.36 per cent zinc, 41 grams per tonne silver and 1.4 grams per tonne gold (Assessment Report 8969, Figure 4).

In 2009, a polymetallic sulphide vein was sampled during a property visit and is located approximately 230 metres east-southeast of the Fraser vein. The sulphide vein has a visual extent of 300 to 400 metres in strike length from the Fraser vein and widths locally up to 7 metres. The vein was observed to strike approximately 095 degrees and dip approximately 65 degrees north. Sulphide mineralization consists of disseminated and locally massive to semimassive chalcopyrite, pyrrhotite, pyrite, minor sphalerite and minor galena. A grab sample (150409) was collected from this area and analysed 1.04 grams per tonne gold, 156 grams per tonne silver and 2.0 per cent copper (Assessment Report 31530).

In 1980, work by Deleen and Klepacki consisted of geological mapping and sampling on the Fraser group of claims. A total of nine surface samples were collected and yielded gold and silver values ranging from trace to 0.74 gram per tonne gold and 10.6 grams per tonne silver. Seven chip samples were collected from the No. 1 tunnel with the best results being 2.2 grams per tonne gold, 28.6 grams per tonne silver, 0.09 to 3.36 per cent zinc, 0.01 to 0.44 per cent lead and 0.09 to 0.13 per cent copper. No further work was recorded on the property until 1988 when an airborne VLF-EM and magnetic survey was flown by Hermary and Woods on the Heat 1 to 3 claims. In 1989, the Rainbow 1-3 claims were staked by J. Foerester and in 1990 Golden Arrow Resources Inc. collected a total of 13 rock samples and 36 sieved stream sediment samples for analyses. In 1991, Golden Ring Resources Ltd. conducted an exploration program on the Rainbow 1-3 claims which consisted of prospecting, detailed geological mapping, rock and soil sampling, trenching, and reconnaissance VLF-EM surveying. Most of the work was concentrated on the Fraser showings with reconnaissance of the Lower Tunnel (Crawford) and North Fork Basin areas. In 2009, Castle Resources Inc. entered into an option agreement with the registered claim holders of the Horseshoe property claims, J. Wang and R. Kasum, and a one day prospecting and sampling program was conducted.

Granby Gold Inc.'s Marmot property, containing the Fraser prospect, had its geology refined in 2017 by interpretation with regional airborne geophysics and again in 2018 with airborne geophysical survey data. There is apparently no strong geophysical expression of the Fraser occurrence (Assessment Report 38124).