The Gold Drop mine is 750 metres east of the Phoenix pit (082ESE020), between the Victoria (082ESE023) and the Snowshoe (082ESE025) claims, situated to the west and east, respectively. The Rawhide (082ESE026) and Monarch (082ESE027) lie to the south. The Gold Drop claim (Lot 899) was staked by J. Hetu in 1893 and Crown granted to F.C. Innes in 1897. The Gold Drop Mining Company, Limited was incorporated in 1899 to develop the property.

In 1900, the Gold Drop Mining Company Ltd. produced 12 tonnes of ore, yielding 31 grams of gold, 435 grams of silver and 417 kilograms of copper from the Gold Drop. In 1905, the claim was acquired by the Granby Consolidated Mining, Smelting & Power Company, Ltd. Although, production is included with Phoenix, about 1,600,582 tonnes of ore was shipped from the Gold Drop up to the end of 1919, when operations ceased. The property was acquired by R.L. Clothier and Arthur Proctor in 1930 and by W.E. McArthur in the late 1930's. In 1951, Attwood Copper Mines Limited optioned the property.

The Gold Drop mine develops only part of an extensive and practically continuous ore body, which outcrops on the Gold Drop claim, swings down and across the Rawhide and Curlew (082ESE024), and terminates on the Snowshoe claim. The whole, when broadly viewed, has, on a horizontal plan, the form of a compressed crescent with northward trending horns, broken by the occurrence of the detached ore body of the Gold Drop No. 1 and the north body of the Snowshoe. The ore body rests on a floor of sharpstone beds and in the Gold Drop proper there is an entire absence of Brooklyn limestone and Tertiary intrusives. The ore body of the Gold Drop proper is developed in the southeast part of the Gold Drop, and the northeast part of the Monarch claim. The strike varies from 013 degrees to 032 degrees, with an easterly dip, which averages about 40 degrees, but flattens to about 25 degrees below the level of the Monarch drift.

The known length of the ore body along the strike of the Monarch drift is over 320 metres, and its width to the boundary of the claim is about 96 metres. The thickness probably averages about 9 metres, the diamond drill logs showing a range from 2 to 17 metres.

See Phoenix for additional details on development, geology and mineralization in the area.