Expatriate Resources discovered the Ice deposit in 1996 in the northern part of the Finlayson District. TeckCominco discovered the GP4F deposit in 1997, after which exploration drilling ceased until Yukon Zinc resumed drilling in 2000, 2001 and again in 2004.

Approximately 80 kilometers to the north of Wolverine, the Ice deposit occurs as a near surface tabular lens with a high grade core of copper mineralisation with drill hole intercepts of up to 20.6 metres grading 5.2% copper. The high grade mineralisation could provide an additional source of copper feed to a mill at Wolverine.

The Ice deposit is located 60 kilometers east of Ross River and 80 kilometers to the north of Wolverine in the northern part of the Finlayson Lake District and occurs in an area of subdued topography with limited outcrop. The deposit consists of copper-gold-cobalt mineralization hosted by mafic volcanic rocks, and is the first to be discovered in the Campbell Range Belt (CRB). The deposit contains an indicated mineral resource of 4.5 Mt at 1.48% copper including a near surface, open pittable resource of 3.4 Mt at 1.48% copper of which 2.7 Mt is oxide.

Rocks of the CRB underlie the Ice property. These rocks are the youngest strata hosting VMS deposits in the Finlayson Lake area. In the vicinity of Ice the CRB rocks consist primarily of basalts, ultramafic and plutonic rocks intercalated with ribbon cherts, argillite, sandstone and minor limestone.

Rocks in the immediate vicinity of the Ice deposit consists of massive basalts, porphyritic-pillowed basalts and autobrecciated pillowed basalts that are lithologically similar and difficult to differentiate without consideration of stratigraphic position.

These are interbedded with black, grey, green and red ribbon cherts, massive green and red cherts, greywackes and carbonaceous mudstones. Stringer sulphide mineralization is common within the footwall-brecciated basalt. The massive sulphide horizon occurs between the porphyritic basalt and overlying massive basalt except where the porphyritic basalt is absent, then the massive sulphide horizon lies between footwall brecciated basalt and overlying massive basalt. Stockwork sulphides are locally developed within the porphyritic basalt.

The Ice deposit is concentrically zoned, with a core of thick, high grade copper mineralization, including 20.6 meters @ 5.2% Cu, 5.9 meters at 8.6% Cu, 19.7 meters at 4.3% Cu, 25.1 meters at 3.5% Cu, 28.5 meters at 3.2% Cu and 11.0 meters at 6.8% Cu. This is surrounded by an apron of thinner, lower grade copper mineralization (1.5 to 3% Cu over 1 to 5 meters); intersections average 0.5 g/t gold, 15 g/t silver, 0.3% Zn and 0.08% cobalt. Trace element analysis indicates that the massive sulphide mineralization contains low levels of lead and very low concentrations of arsenic, antimony, mercury and selenium.

Primary mineralization occurs as a 0.2 to 28 meter thick massive sulphide horizon deposited conformable to stratigraphy, and as zones of stringer sulphides that crosscut stratigraphy. Secondary mineralization is confined to the zone of near surface weathering which typically ranges between 5 and 50 meters below surface, and extends to almost 80 meters depth along fractures. Secondary mineralization includes minerals that are wholly or partially replaced primary sulphide minerals with oxide minerals. The upper part of the oxide zone and overlying overburden require additional sampling to better define the oxide resource and leach characteristics. Additional exploration is warranted to evaluate the large property for other deposits.