The BV developed prospect is located 2.9 kilometres southeast of the summit of Alberts Hump, south of Abesti Creek and 2.3 kilometres southwest of the Bonanza occurrence (094E 079), approximately 300 kilometres north of Smithers. The occurrence lies within the Omineca-Cassiar Mountains in the west-central portion of the Toodoggone Gold Camp.

The BV occurrence is situated within a Mesozoic volcanic arc assemblage which lies along the eastern margin of the Intermontane Belt, a northwest-trending belt of Paleozoic to Tertiary sediments, volcanics and intrusions bounded to the east by the Omineca Belt and to the west and southwest by the Sustut and Bowser basins. Permian Asitka Group crystalline limestones are the oldest rocks exposed in the region. They are commonly in thrust contact with Upper Triassic Takla Group andesite flows and pyroclastic rocks. Takla volcanics have been intruded by the granodiorite to quartz monzonite Black Lake Suite of Early Jurassic age and are in turn unconformably overlain by or faulted against Lower Jurassic calcalkaline volcanics of the Toodoggone Formation (Hazelton Group).

The dominant structures in the area are steeply dipping faults which define a prominent regional northwest structural fabric trending 140 to 170 degrees. In turn, high angle, northeast-striking faults (approximately 060 degrees) appear to truncate and displace northwest-striking faults. Collectively these faults form a boundary for variably rotated and tilted blocks underlain by monoclinal strata.

The Adoogacho and Metsantan members of the Toodoggone Formation underlie the property. 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 Metsantan Member, in part, directly overlies the basal Adoogacho Member and is also in fault contact with it.

The BV developed prospect has been exposed by drilling and trenching over about 600 metres along a northwest strike. The west limb of the zone trends west-northwest and is hinged to an eastern limb that trends northwest. The zone is up to 15 metres wide and appears to contain several sub-parallel gold-bearing lenses which strike west-northwest and dip to the north. The structure hosting the BV occurrence remains open at both ends. The average width of the mineralized surface exposure is roughly 10 metres, along a 170-metre-long section of exposed vein structure. Drilling indicates mineralization persists to at least 50 metres depth. On surface, the vein structure branches or is faulted into at least two semi-parallel mineralized zones within a repetitious barite-quartz sequence (Assessment Report 16057).

The BV occurrence is barite-hosted, but differs from the AL (Thesis III) (094E 091) and the Bonanza (094E 079) in that high-grade mineralization occurs as narrow, discrete barite-quartz-pyrite veins in a silicified andesite flow, with a more continuous strike length. The BV prospect does not display the lensoidal, advanced argillic alteration, acid-leaching features and porous silicified zones characteristic of an upper-level epithermal system, characteristic of other acid-sulphate associated deposits in the area. The mineralization and alteration are more confined and directed by the fault system hosting the occurrence. The veins are commonly brecciated and sheared at depth and are associated with strong sericitic alteration. The occurrence of minor galena and chalcopyrite, and less pyrite associated with gold mineralization, the higher-than-average silver content for the area and the presence of chalcedonic quartz veins, suggest deeper epithermal emplacement of the BV mineralization.

Geochronological studies (Fieldwork 1988, pages 409-412) using sericite from the alteration zone at the BV yielded an age of 152 +/- 5 Ma and is considered a minimum age of alteration and mineralization.

In the BV zone, past diamond drilling during the period 1984 to 1987 consisted of 2278.2 metres of HQ and NQ size core in 48 holes. The majority of the total meterage was completed by Energex from 1985 to 1987; it tested the BV zone over a northwest-southeast strike length of about 350 metres down to vertical depths of about 50-60 metres. Most of the drilling has taken place within a 180 metre-long segment which was the focus of past open-pit mining.

Historically, it was estimated that the BV occurrence contained 53,000 tonnes grading 10.4 grams per tonne gold (Fieldwork 1988, page 410).

Currently, 45,355 tonnes of ore grading 13.3 grams per tonne gold has been mined and stockpiled.

In their October 2007 Technical Report, Micromine Consulting published a post-mining resource estimate of the BV zone. Using a 3.5 grams per tonne gold cut-off, Micromine estimated 33,870 tonnes grading 9.53 grams per tonne gold (Bowen, 2012, referencing Bilki et al. (2007)).

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 prospect identified kilometre-scale linear northeast-trending anomalies, particularly antimony, gold, silver and copper. Rocks from the area returned several anomalous gold values, with one sample (B0005348) grading 74.1 grams per tonne gold. A sample collected in 2023 returned 77.8 grams per tonne gold and 49.3 grams per tonne silver, with several other samples grading greater than 25 grams per tonne gold.

In 2023, 11 diamond drill holes totaling 1,079 metres targeted the BV prospect, confirming historical results and expanding mineralization at depth. Highlights from the 2023 drilling program include drill hole 23BVDD001, which intersected 14.87 grams per tonne gold, 6.37 grams per tonne silver and 0.01 per cent copper over 6.27 metres, including 32.51 grams per tonne gold, 9.66 grams per tonne silver and 0.008 per cent copper over 2.31 metres (Assessment Report 41940).

The following MREs are from May 1, 2024 Technical Report and Updated Mineral Resource Estimate of the Lawyers-Ranch Gold-Silver Project – P & E Mining Consultants Inc. for Thesis Gold Inc. and August 30, 2024 Updated Preliminary Economic Assessment Lawyers-Ranch Project - JDS Energy and Mining Inc.:

Pit-Constrained Mineral Resource Estimate for the Ranch area major prospects (Bonanza, Ridge, Bingo, Thesis II, Thesis III, BV, JK and Eric) @ 0.4 g/t AuEq Cut-off

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Classification	Tonnes (k)	Au (g/t)	Ag (g/t)   	Cu %    AuEq (g/t)
Indicated		  4,259		 2.01	  9.5	       0.06         2.21
Inferred		  5,207		 1.79 	  5.3        0.12         2.03
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Out-of-Pit Mineral Resource Estimate for the Ranch area major prospects (Bonanza, Ridge, Bingo, Thesis II, Thesis III, BV, JK and Eric) @ 1.5 g/t AuEq Cut-off

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Classification	Tonnes (k)	Au (g/t)	Ag (g/t)	Cu %    AuEq (g/t)
Inferred		   579		 1.76 	  4.9 	0.19        2.07		
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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.

In 2024, drilling at the Ranch property was designed to advance engineering and environmental baseline studies in preparation for a Prefeasibility Study led by Ausenco Engineering Canada ULC and Mining Plus Canada Consulting Ltd. with 2,226 metres of drilling focused on geotechnical and hydrogeological studies (Thesis Gold Inc. Press Release Feb. 18, 2025).

See Bonanza (094E 079) for geological and work history details of the Ranch (formerly Al) property, which presently contains the BV deposit, and several other prospects (2025).