The Silver Coin (LP 2 and 3) occurrence is located approximately 3.75 kilometres southwest of Kilpoola Lake and immediately north of the border with the United States.

The area lies within and along the eastern border of the Jurassic Kruger Intrusion, an alkaline border phase of the Middle Jurassic Similkameen Batholith. It intrudes quartzite, gneiss, pyroxenite and greenstone of the Carboniferous to Permian Kobau Group. The Kruger pluton consists of alkaline syenite, nepheline syenite and syenitic gneiss.

The Silver Coin occurrence consists of numerous connected and highly fractured and brecciated quartz veins of similar character to White Knight (MINFILE 082ESW057) occurrence to the east. At the White Knight, vein widths vary from 0.15 to 4.6 metres true width, striking 005 degrees and dipping 15 degrees southeast. The veins are erratically mineralized with fine-grained and disseminated pyrite, chalcopyrite, galena and trace amounts of argentite and tetrahedrite. These minerals also occur as streaks and fracture coatings. Chlorite, carbonate and greisen alteration occur adjacent to the quartz veins except where the vein is brecciated.

Locally, three areas of mineralization have been identified. The main workings appear to be a group of five trenches and two adits located immediately north of the International border. Adit no. 2 is located approximately 500 metres to the north and the no.1 adit or pit is located approximately 1000 metres to the west and might extend just into the United States. The no.1 adit or pit exposes a narrow, 3-centimetre wide, flat-lying quartz vein in a shear zone hosting galena, minor pyrite and lesser chalcopyrite.

In 1989, a sample (LP005) of quartz vein with galena exposed in a pit assayed 5.10 grams per tonne gold, 58.5 grams per tonne silver and 0.360 per cent lead, while a sample (LP3 Adit) of quartz vein from the no.1 adit or pit yielded 2.5 grams per tonne gold and 319 grams per tonne silver (Property File - Minnova Inc. [1989-01-01]: Property Exams: Okanagan Valley 1989).

The immediate area around the Silver Coin showing has a history of limited mining activity dating back to the late 1800s in association with the nearby White Knight (MINFILE 082ESW057) occurrence. Several abandoned trenches, open pits and adits are known at the Silver Coin showing and surrounding area. In 1965, the area was examined by Utica Mines Limited. In 1980, the claims were owned by J. Wishart and purchased in the same year by Kaaba Resources Inc. During 1987 through 1989, Minnova Inc. examined and sampled the area as the LP claims.