The WATER 3 occurrence is located north of Fergusson Creek, on a southwest facing alpine ridge at an elevation of 2155 metres, 1.1 kilometres southwest of Truax SW2 Peak. It is approximately 4 kilometres east of Kingdom Lake and 6 kilometres northeast of Bralorne, B.C.
The area is underlain by north-trending and steeply dipping andesites, cherts and quartzites of the Mississippian to Jurassic Bridge River Complex (Group), faulted against diorite and quartz diorite of the Cretaceous to Tertiary Bendor pluton. All rocks are hornfelsed and the volcanics are sheared and chloritized, with pronounced oxidation. Other hydrothermal alteration products in the area include epidote, calcite and chalcedony.
Locally, a granodiorite or quartz diorite hosts a 50 centimetre wide pegmatitic quartz vein mineralized with pyrite, pyrrhotite, galena and chalcopyrite. Gangue minerals are reported to include actinolite and hornblende.
In 1991, a select grab sample (648R) assayed 0.11 gram per tonne gold, 33.3 grams per tonne silver, 0.160 per cent copper, 0.211 per cent lead and 0.140 per cent antimony (Assessment Report 22119).
In 1984, Newmont Exploration, on behalf of X-Calibre Resources, completed a program of geochemical sampling and geological mapping on the area as the Waterloo 1-2 claims. In 1991, Cogema Canada Ltd. completed a program of rock and silt sampling and geological mapping on the area as the Water 1-4 claims. In 2013, BCT Mining Corp., on the behalf of Discovery Ventures Inc., completed a program of geological and structural mapping on the area as the Gold property.
In 2021, Wild West Gold Corp. ran investigations of ASTER remote sensing, DEM modelling and historical airborne magnetometer and VLF-EM surveys on their Bralorne East property, including the Water 3 and Truax Road mineral occurrences, as well as highlighting the Truax and Gray Rock showings outside the southeast corner of the project area. This work was followed up in 2022 with a drone magnetometer survey over the property, as well as a MMI soil survey in the south near Water 3 and silt sampling in the northeast.
