The Victoria Property is situated between two arms of Victoria Lake reservoir. It is predominantly underlain by submarine volcanic rocks of the Victoria Lake Supergroup, which hosts several significant volcanogenic massive sulphide deposits including the Duck Pond and Boundary Cu-Zn deposits. Similar mineralization is represented locally by a high-grade (zinc-rich massive sulphide) Boomerang Prospect, discovered by Messina Minerals in December 2004. It is situated 10km to the north of the Victoria Property.
Early exploration work in the area included a reconnaissance survey by Hans Lundbery Ltd. in 1934 during which the Big Arm Gold occurrence was discovered. Grab samples assayed up to 0.8 oz/t (25 g/t) Au and 4.5 oz/t (141 g/t) Ag. The showing was flooded as part of a hydro electric project in the 1960's and now lies beneath Victoria Lake, 1.7km to the west of the Victoria Property.
Exploration activity in the 1970's and 1980's, was conducted by Noranda with the focus on new VMS deposit potential. BP Resources Canada Inc followed with gold and base metal discoveries in the region after acquiring rights to Terra Nova Properties from Abitibi-Price in 1995. This included discovery of gold mineralization to the northeast of Victoria Property at Valentine Lake, Midas Point and West Tulks and base metal occurrences elsewhere.
The first significant results within the current Victoria licence were achieved by Rubicon Minerals Corporation in 2003, who conducted reconnaissance prospecting and geochemical surveys over the entire current licence area. Gold was panned in several locations throughout the Property, including heavy mineral concentrate samples that returned values up to 178 g/t Au from the northern shoreline. The pan concentrate was sampled by Alan Keats and originated from the till overlying alteration zone within mafic volcanics.
The alteration zone consisted of iron carbonate, sericite, chlorite and quartz and contained up to 20% of fracture filling and disseminated pyrite with minor chalcopyrite and galena. Gold was not present.
Exploration in the area in 2005, was again focused on the volcanogenic massive sulphide potential of the area, especially in light of the newly discovered Boomerang prospect located approximately 6km northwest of the Property.
In 2004-2006, Crosshair-Rubicon joint venture continued exploring four main areas on the land holdings of which DPS and Swamp are now located within the Victoria Property licence.
In 2006, Crosshair-Rubicon JV conducted a 2197 meter diamond drill program in 11 holes on their land holdings. Five of the holes are now located within the Property licence.