The Ashwood property is located 2 kilometres northeast of Outram Lake and just west of Sutton Glacier, about 21 kilometres south of the community of Stewart.

The occurrence area is underlain by interbedded volcanics and sediments of the Lower-Middle Jurassic Hazelton Group. Andesite, diorite and quartz feldspar porphyry dikes intrude the volcano-sedimentary sequence. The volcanic rocks consist of ash tuff, lapilli tuff and andesitic to dacitic agglomerate. Volcanic conglomerate and breccias occur locally. Feldspar porphyry flows were also observed. Sediments consist of dark grey to black, foliated argillite and siliceous siltstone. A number of significant fault structures have tilted the lithologies and probably caused some offset.

The predominant style of mineralization in the Tat zone consists of disseminations, lenses or possibly beds of semi-massive polymetallic sulphides consisting of pyrite, sphalerite with minor galena and chalcopyrite. The mineralization generally occurs parallel to bedding in a greywacke-siltstone-argillite sequence. Individual lenses of mineralization vary from 30 to 40 centimetres wide and trend along strike for up to 5 metres. Several of the lenses can occur across stratigraphic intervals of several metres. A grab sample of mineralization at the Tat zone analysed 0.10 per cent copper, 1.69 per cent zinc, 0.88 per cent lead, 0.4 gram per tonne gold and 65.4 grams per tonne silver (Assessment Report 23217, page 18).

The N zone (103P 248) has similar style mineralization and is located 2 kilometres north.

Three new areas of gold mineralization were discovered in 1994 and have been named the Outram Lake area, Hammer Lake area and Camp Lake area (Assessment Report 23689). At Outram Lake, the mineralization appears to be controlled by a northeast trending brittle fault that varies between 2 and 7 metres wide. Mineralization within the fault zone is hosted in isolated blocks or lenses of strongly altered rocks. Values up to 3.95 grams per tonne gold and 2.77 per cent arsenic in grab samples were obtained from the fault zone. Alteration consists of strong silica flooding, pervasive sercitization and minor clay development. Samples collected from less continuous, minor fracture zones also produced anomalous arsenic and gold values. These structures commonly have northerly strikes and steep dips. Many of these zones display varying degrees of carbonate, silica, and sericite alteration and erratic quartz veining. Dominant sulphides are pyrite, arsenopyrite and pyrrhotite with trace amounts of chalcopyrite.

Mineralization at Camp Lake, located 500 metres northeast of the Outram Lake zone, is controlled by small, brittle-ductile faults less than 2 metres wide. Values up to 1.45 grams per tonne gold were obtained from grab samples. Gold values appear to be intimately related to arsenopyrite mineralization.

Mineralization in the Hammer Lake area, located 1500 metres northeast of the Outram Lake zone, is associated with a north-trending fault intruded by a quartz feldspar porphyry dike and reaches widths up to 15 metres. Gold mineralization is associated with very poorly defined zones of sericite+quartz+carbonate alteration. Values up to 4.05 grams per tonne were obtained from grab samples within the fault zone.

Prior to 1990, there has been no exploration work recorded on the property. In 1990, Tenajon Resources Ltd. undertook a program of prospecting, geological mapping and rock saw channel sampling in selected areas of the property. They reported the discovery of bedded exhalative-style zinc-lead-copper sulphides and sulphide-bearing quartz vein stockworks at the N zone (103P 248). Two kilometres to the south of the N zone, Tenajon found more semi-massive sulphide mineralization near the volcanic-sedimentary contact at the Tat zone. In August and September of 1993, Aquaterre Mineral Development Ltd. completed an initial field exploration program consisting of geological mapping, prospecting, soil, stream silt and rock geochemical sampling on the Ashwood project. During 1994, Aquaterre undertook a major field program consisting of an airborne geophysical survey, soil and rock geochemical surveys, geological surveys and seven diamond-drill holes totalling 1024 metres of BQ core. A total of 569 core samples, 71 soil samples and 102 rock chip samples were collected and analysed. The airborne survey covered an area of about 18 square kilometres and a total of 150 line kilometres. Strong conductive zones were detected northeast of the N and Tat zones in fine clastic sedimentary rocks. Five holes were directed to test the 1100 zone gold-in-soil geochemical anomaly, however, no mineralization of economic significance was intersected. In 1995, a 3.6 kilometre grid was established over the 1100 zone, with a single line extending southeast to the Hammer Lake area. A total of 126 soil samples were collected from the grid and 1425 metres of induced polarization surveying were completed. Twenty-three lithogeochemical samples were collected from the 1100 zone as well as the Hammer, Camp and Outram Lake areas. The work defined the 1100 zone gold-in-soil anomaly in more detail and suggested that the anomaly may have been transported downslope from a source located southwest of the area tested by the 1994 drill program. In 1996, an induced polarization (IP) survey was completed on behalf of Aquaterre and was conducted across a grid that covers the gold geochemical anomaly referred to as the 1100 zone and extended to the southeast into an area referred to as Hammer Lake. A limited amount of IP surveying (1.4 line kilometres) was conducted across the 1100 zone in September, 1995. Encouraging results prompted an extension of the survey grid and in 1996 an additional 6.3 line kilometres of IP surveying was completed. In 2006, an exploration program consisting of geological mapping, prospecting, and geochemical rock and soil sampling was conducted by Mineral Hill Industries Ltd. on their Praxis property which covers the mineralized zones.

Granby Gold Inc. conducted geological mapping, airborne magnetometer and gamma ray spectrometry surveys (and geological interpretation of the same) over their East Georgie River project area, including the Ashwood showing, from 2013 to 2020. Four areas of interest were identified by the contact occurrence density ‘heatmap’ with an additional three areas identified by the orientation entropy (some degree of overlap exists between these two outputs). Particular attention was focused about Rhyolite Ridge, extending southeast from the Persuader mineralization and flanking the Ashwood on the eastern block of the overall property. Good correlation between the Ashwood ‘orientation entropy’ anomaly and a corresponding low Th/K zone suggests anomalous potassic alteration coupled with significant structural disturbance.