The Terry property is located at the western contact of the Late Triassic-Early Jurassic Guichon Creek batholith with the Carboniferous to Jurassic Cache Creek Complex. Guichon rocks comprise diorite and quartz diorite. Cache Creek rocks comprise greywacke, chert and limestone that dip mainly eastward.

Disseminated magnetite, pyrite, chalcopyrite and malachite occur in gossans in altered Cache Creek sediments. Concentration of sulphides increases with brecciation and shearing. Two main gossans occur, the Coldstream zone and the Pukaist zone (092INW049). The Coldstream zone is located about 900 metres north of Coldstream Creek and occurs near Guichon diorite and a fault where shearing and brecciation is evident; malachite is abundant. The zone has an exposed length of 457 metres and width of 30 metres. A small 3-metre adit is evident and intersects a magnetite-epidote lens, 15 by 6 metres.

Work done on the Coldstream zone by Alscope Consolidated Ltd. during 1961-62 comprised induced polarization and magnetic surveys, caterpillar trenching and drilling seven diamond-drill holes totalling at least 640 metres with an uncompleted hole at 130 metres long. In 1969, Largo Mines Ltd. completed geological mapping on the Coldstream and Pukaist zones. In 1971, Largo Mines Ltd. conducted VLF-EM and magnetic surveys on both zones.