The Fyre Lake volcanic-hosted massive sulphide (VMS) deposit is located about 160 km northwest of Watson Lake in the Finlayson Lake district of southeastern Yukon. The deposit is hosted by Devonian (?) and Mississippian rocks of the Yukon-Tanana Terrane and occurs close to the contact between chlorite schist and overlying carbonaceous phyllite. Copper-cobalt-gold mineralization occurs in two parallel zones: West Kona and East Kona.
The chemical composition and rare earth element (REE) pattern of chlorite schist which hosts the Kona zones is unique in the Fire Lake area. The data indicate that the protolith of these meta-volcanic rocks has a boninitic affinity and was likely derived from a depleted source region. Mafic meta-volcanic rocks (chlorite schist) elsewhere in this area are tholeiitic and may have developed in an arc or rift-related setting. Analyses of psammitic schists in the hanging wall of the West Kona zone indicate the rocks are felsic in composition and were likely deposited in a mature arc or continental-margin setting.