The Treasure Raiders event is an irregular event so it cannot be predicted, but will last 3 days and offer great rewards. During the 3 days, you will mine stone tiles and find some kind of reward. The goal of each floor is to find the selected [Ultimate Treasure], which can be changed at any point in time. Every fifth room (so multiples of 5, 10, 15, etc.) are higher tier floors, and offer substantially better rewards and should be the primary goal! [PRO TIP: You are guaranteed that the fourteenth tile mined in a common floor will be the ultimate treasure, therefore every floor will cost at most 14 pickaxes!]
You can get pickaxes for the event via the following daily missions;

The dailies will allow up to 26 pickaxes per day, for a total of 78 pickaxes over the entire event!
Additionally, pickaxe packs are available!
(dependent on regional pricing)

There are the basic rewards (gear exp, hero exp, gems, basic resources and 5xmin speedups) from mining a tile, the ultimate treasure reward you chose either by finding it or having mined 14 tiles, as well as the milestone rewards for the number of floors you have reached;