The BV SOUTH occurrence is located in the Toodoggone Gold Camp, about 1 kilometre south of the AL (Thesis II/III) past producer (094E 091) and approximately 296 kilometres north of Smithers.

The area of the BV South showing is underlain by andesitic rocks of the Lower Jurassic Toodoggone Formation (Hazelton Group). The Adoogacho and Metsantan members of the Toodoggone Formation underlie the area. The Adoogacho Member consists of trachydacite ash-flow tuff with lenses of lapilli tuff, rare marlstone, and conglomerate near the base. The Metsantan Member is composed mainly of trachyandesite (latite) flows with lenses of lapilli tuff, and lahar; minor volcanic sandstone and conglomerate (Bulletin 86).

The BV South zone lies along the BV fault, south of the past-producing BV zone. It strikes south-southeast and dips 25 to 35 degrees to the east. Energex Minerals Ltd. stripped the area in 1988 and exposed a strongly silicified zone measuring 6 to 10 metres wide by about 60 metres long. These widths are apparent and greater than true widths because of the relatively shallow dip of the zone. Channel sampling in the northern half of the stripped area yielded good gold values, where barite and pyrite are more common and where silicification is most intense. The best channel sampled interval assayed 12.73 grams per tonne gold over 5.1 metres in the northernmost part of the zone. Ten diamond-drill holes tested the zone over a strike length of about 100 metres, including four holes in the southern part of the zone which tested it for an additional 45 metres beyond the stripped area. Drillholes BV88-01 to 04, drilled beneath the better mineralized northern part of the zone, yielded values up to 7.45 grams per tonne gold; the best intercept graded 4.85 grams per tonne gold over 2.0 metres (approximately true width) from 10.5 to 12.5 metres in Hole BV88-04 (Bowen, 2012).

At BV South, past drilling consists of 362.0 metres in ten holes. Five two-hole drill fences are spaced 25 to 35 metres apart over a distance of about 120 metres along the south-southeast strike of the zone. The ten diamond-drill holes tested the BV South zone over a strike length of about 100 metres. Micromine Consulting's 2007 resource estimate for this zone, using "uncut" gold assays and a cut-off grade of 3.5 grams per tonne gold, is 1140 tonnes at 5.72 grams per tonne gold (Bowen, 2012).

The BV South zone is believed to be a southern extension of the BV (094E 099). In 2006, sampling in old trenches southeast of the past-producing BV pit by Christopher James Gold Corp. extended this altered and mineralized structure by an additional 600 metres. Twenty-two systematic panel chip samples averaged 1.40 grams per tonne gold, with an assay of 68.52 grams per tonne gold on a single sample (Assessment Report 28887).

From 2020 through 2023, Thesis Gold Inc. completed programs of prospecting, mapping, geochemical (rock and soil) sampling, ground and airborne geophysical surveys, re-logging/re-sampling of historical drill core, and extensive digitization and compilation of existing exploration data on their Ranch property. From 2021 to 2023, 368 diamond drill holes, totaling 68,481.6 metres were completed on the Ranch property, with the majority of the drilling targeting the major prospects of Bonanza, Ridge, Bingo, Thesis II, Thesis III, BV, JK and Eric. Metallurgical testing and environmental monitoring/baseline and geotechnical studies and infrastructure upgrading were also initiated during this period, along with First Nations consultations. Drilling at the major prospects on the Ranch property expanded the known mineralized zones along strike and at depth.

Soil and rock sampling programs in 2021 and 2022 on the BV South showing identified kilometre-scale linear northeast-trending anomalies, particularly antimony, gold, silver and copper. Rocks from the area returned several anomalous gold values, with one 2021 sample (B0005594) grading 40.9 grams per tonne gold (Assessment Report 40428).

In August 2023, Benchmark Metals Inc. merged with Thesis Gold Inc., joining the Lawyer Project, located in similar Toodoggone Formation rocks to the southeast, with Thesis Gold's Ranch Project.

A NI 43-101 & 43-101F1 Technical Report and Updated Mineral Reserve Estimate of the Lawyer-Ranch Gold-Silver Project was prepared for Thesis Gold Inc. by P & E Mining Consultants Inc. in May 2024 and an updated Preliminary Economic Assessment (PEA) was completed for the Lawyers-Ranch Project by JDS Energy & Mining Inc. effective August 30, 2024.

See Bonanza (094E 079) for geological and work history details of the Ranch (formerly Al) property, which presently contains the BV South showing, and several other prospects. See also the BV (094E 099) for related details.