https://nunavutgeoscience.ca/apps/showing/showRprt.php

 In 1928, 78.5 oz of gold was reportedly obtained from 500 kg of quartz-carbonate vein material from a trench. Mineralization is localized along the intersection of a shear and a thin sulphide iron formation horizon (within a sequence of pillowed mafic volcanics and mafic mudstone/tuff). Follow up work in 1987 found the trench flooded. Geochemical sampling close to the trench found no gold values, however a piece of quartz found in the dump contained visible gold. Historically, Term Point is known as a 'rich, if small' showing. Sources stating 120 - 150 ounces of gold were mined here (1918, 1927?) can be found (Caine and Brown, 1987). Reports stating 2.7 kg of gold mined from 0.5 tonnes of rock in 1987 could not be verified.