The gold rush to the Cariboo district began in 1858, and by 1862 Barkerville was recognized to be the largest western town north of San Francisco. Historic gold production in the Barkerville-Wells area was approximately 3.7 million ounces, 1.9 million from placer operations and 1.8 million form lode deposits. These totals are an estimate only as prior to 1874 production was not recorded. In addition, the placer operation from the Bullion pit at Likely produced 175,000 ounces of gold and 1,800 ounces of platinum. Gold and platinum were also reported in placers in the Frank Creek area in similar proportions.

Gold bullion from the Cariboo Hydraulic Mine near Likely, B.C.

In addition to placer gold operations, four underground mines -- Cariboo Gold Quartz, Island Mountain, Mosquito Creek and Cariboo-Hudson -- have operated in the district. Other important gold and copper-gold deposits occur near Likely, in the southwestern part of the Cariboo district. A new open-pit copper-gold deposit on Mount Polley, located 9 km southeast of Likely, is expected to be put into production soon. Measured reserves are 49 million tonnes grading 0.38% copper and 0.54 g/t gold. Inferred reserves are 230 million tonnes grading 0.25% copper and 0.34 g/t gold.

At Spanish Mountain, 13 km southeast of Likely, pod-like shoots of mineralization containing coarse gold, pyrite, galena, sphalerite, and other minerals occur in quartz, ankerite and mariposite gangue. Probable/possible reserves of 890,000 tonnes grading 2.5 g/t Au have been developed.