The Olympic prospect is located at about 822 metres elevation on the eastern slopes of Cranberry Ridge, 3 kilometres northwest of Beaverdell, British Columbia. The Lucky Boy occurrence (082ESW152) is located about 500 metres west on the Lucky Boy claim group Crown grants.
The only record of exploration or development work on the Olympic claim was in 1935 and 1936. By this time exploratory and development work had been carried out periodically. A second shaft was reported sunk in 1936 by L. Clery.
The hostrocks underlying Cranberry Ridge, immediately west of Beaverdell, are similar to that underlying Mount Wallace to the west. Granodiorite of the Jurassic Westkettle batholith, grading to quartz diorite and diorite, underlies most of Cranberry Ridge. To the immediate north, the Westkettle batholith has intruded Permian Wallace Formation metavolcanics and metasediments, now present as roof pendants. Lithologies include greenstone, quartzite, greywacke, limestone and local paragneiss. Younger Eocene intrusions of granite to granodiorite or quartz monzonite to syenite composition and associated dikes have intruded both Westkettle granodiorite and Wallace Formation rocks.
An abandoned adit of unknown depth and a dump were discovered on the Olympic claim in 1986. Subsequent exploration has located a trench and a 9-metre adit following a bearing of 260 degrees. The adit follows a 20 to 30 centimetre wide shear zone striking 080 degrees and dipping 65 degrees south. The hostrock is medium-grained granodiorite. Adjacent to the shear zone mafic minerals are strongly chlorite altered and feldspar minerals to sericite.
Two chip samples across a shear zone in the adit and one dump sample were taken in 1986. The 30-centimetre chip sample across the shear zone in the adit yielded 34.2 grams per tonne silver and trace gold (Assessment Report 19721). In 1988, 25 samples were taken from the Olympic adit. Nineteen chip samples were taken over a length of 9.0 metres and an average width of 30 centimetres. The average silver grade was 48.34 grams per tonne silver with Sample R-72 yielding a high of 231.77 grams per tonne silver (Assessment Report 17921).
