The SILVER SPOT NO. 3 showing is located on an unnamed tributary of Waterloo Creek, approximately 2 kilometres north-northwest of Lightning Peak.
The showing occurs in greenstone of the Devonian-Triassic Harper Ranch Group which is hosted by granodiorite and diorite of an unnamed Middle Jurassic intrusion.
The showing consists of a 2.4-metre wide shear zone, which strikes east-west and carries 2 narrow bands of quartz veining. Fine-grained galena and sphalerite occur as narrow streaks within the veins. A 1930 report refers to high-grade silver values, but assays are lacking. Pyrite was not noted, however it is common in the Lightning Peak camp. It has been speculated that the SILVER SPOT NO. 3 shear is an extension of the WATERLOO (082ENE017) mine shear zone, although this has not been demonstrated by subsequent work.
The Lightning Peak area has seen extensive exploration since the early 1900s, with most of the exploration effort directed at the numerous polymetallic, shear zone hosted quartz veins in this camp. The SILVER SPOT NO. 3 is near the WATERLOO mine, 1.5 kilometres to the west, and has been included in many of the programs covering the WATERLOO property.
In 1966, Bralorne Pioneer Mines Limited carried out a geochemical survey of the WATERLOO mine and surrounding area. They were able to trace some quartz veins through areas of overburden on the mine property.
From 1968 to 69, International Mine Services Ltd. carried out geochemical and geological surveys and a diamond drill program on the nearby WATERLOO mine property. No work was recorded on the SILVER SPOT NO. 3 showing.
In 1974, K.L. Daughtry carried out a magnetometer survey over the RHONDDA claim, 500 metres to the northwest. The survey identified lithological contacts but provided little information about shear zones.
In 1978, W.G. Botel carried out a 16.9 kilometre VLF-EM survey over the WATERLOO mine area. Known shear zones were identified but a linkage to the SILVER SPOT NO. 3 shear was not demonstrated.
In 1979, Kelvin Energy Ltd. staked the REN 1 claim over the SILVER SPOT NO. 3 area and carried out a small program of prospecting, mapping and soil sampling. The results were not encouraging and the property was eventually dropped.
In 2011, Tower Resources optioned the property and completed a program of geological mapping and sampling from outcrops, trenches, and dump piles located near old workings. New areas of precious metal enriched rocks were also identified during this work. The 39 samples, collected over an area of 4 by 1.3 kilometres, average 112 grams per tonne silver and 0.9 gram per tonne gold. A single sample from the showing returned 188.0 grams per tonne silver and 6.23 per cent zinc (http://www.towerresourcesltd.com).