The Ray occurrence is located immediately south of the Cassiar town site, 95 kilometres north of the community of Dease Lake.

Regionally, the area is underlain by granitic intrusive rocks on the eastern margin of the Lower Cretaceous Cassiar Batholith. To the east quartz arenite sedimentary rocks of the Lower Cambrian Boya Formation (Atan Group), limestone, marble and calcareous sedimentary rocks of the Lower Cambrian Rosella Formation (Atan Group), limestone, slate, siltstone and argillite of the Ordovician to Silurian Road River Group and calcareous sedimentary rocks of the McDame Group are exposed.

At the Ray showing, mineralization consisting of coarse-grained molybdenite rosettes is restricted to a 2.1-metre-wide pegmatite pod that trends 280 degrees and dips 80 degrees north. The pod is hosted in porphyritic quartz monzonite of the Lower Cretaceous Cassiar batholith.

The Marie showing, discovered in 2004, consists of molybdenite mineralization yielding 0.63 per cent molybdenum from float within a 500- by 250-metre zone of anomalous molybdenum and tungsten in rocks and soils, 700 metres north of the Ray showing. In the Marie showing area, a medium-grained quartz monzonite occurs in contact with a late-stage quartz feldspar porphyry phase intruded by mafic and felsic dikes.

A rusty cliff area, 500 metres south of the Marie showing and approximately 200 metres northwest of the Ray showing, exhibits extensive fracturing with minor molybdenite flakes noted in fractures; however, limited samples collected in 2006 (hampered by unstable slopes) did not contain significant molybdenum values.

In 1968, a chip sample from the Ray occurrence assayed 0.390 per cent molybdenum and 3.43 grams per tonne silver over 2.1 metres (Property File - Sevensma, 1968).

In 2003, a sample (7891) from the Ray occurrence assayed 0.38 per cent molybdenum (Assessment Report 27337).

In 2008, a float sample (54574) of oxidized quartz monzonite hosting molybdenite, located below a gossanous cliff approximately 500 metres southwest of the Ray occurrence, assayed 0.338 per cent molybdenum (Assessment Report 30680).

Work History

In 1969, Chapparal Mines Ltd. and Coast Silver Mines Ltd. completed a 486.0 line-kilometre airborne magnetic survey on the area. During 1979 through 1981, Shell Canada Resources Ltd. completed programs of geological mapping, geochemical (rock, silt and soil) sampling and ground geophysical (magnetic, electromagnetic and induced polarization) surveys on the area.

During 1998 through 2008, Eveready Resources Corporation completed programs of geological mapping, geochemical (rock and soil) sampling, trenching and induced polarization surveys on the Ray-Marie area of the Cassiar property. This work indicated a possible extension of the Storie (MINFILE 104P 069) molybdenite occurrence north to the Ray-Marie occurrence area. In 2014, BC Moly Ltd. completed a program of geological mapping on the Storie property.