Significant gold mineralization outlined to date on the Bonanza Property appears to be directly related to the fracturing shearing of the granodioritic Dome Stock and it's contact with a sequence of predominantly intermediate to mafic volcanic rocks to the East. Small surface expressions of the deposit on Whitehorse Island, were subsequently investigated by step-out drilling onto Red Lake itself, ultimately defining a silicic and mineralized zone extending for over approximately 200 metres, north.
Mineralization in area is typically pyritic, auriferous, silicified, occurs predominantly within the (east) contact of the Dome Stock. Silicification can be pervasive or stringer or lenticular and commonly may be associated with at least two phases of quartz veining. There are two major sets of veining, which typically carry higher gold grades, a sub-vertical, generally north-south trending set, and a shallower dipping, north-east and north-west trending set. Gold mineralization is developed along fractures and shears that in some locales are cataclastic.
There is a strong plunge to the mineralization and associated silicification, to the north. Overall the deposit has a sheet-like very steeply dipping geometry.
Critical to locating additional resources is the location and delineation of the north extension to this mineralization and associated parallel fractures, particularly within the granodiorite contact zone. Should the Premier Gold's Folansbee Zone be traced farther West, additional targets in the form of west south-west to south-west trending lineaments would be obvious targets.