The Mercury property is situated at 1340 metres elevation above sea level on the north side of Carpenter Creek, about 2 kilometres northwest of Mount Payne, in the Slocan Mining Division. The property consists of two Reverted Crown grants (Lots 3531 and 3209).

Regionally, the area lies on the western margin of the Kootenay Arc, in allochthonous rocks of the Quesnel Terrane. In the vicinity of the occurrence, the Quesnel Terrane is dominated by the Upper Triassic Slocan Group, a thick sequence of deformed and metamorphosed shale, argillite, siltstone, quartzite and minor limestone. Rocks of the Slocan Group are tightly and disharmonically folded. Early minor folds are tight to isoclinal with moderate east plunging, southeast inclined axial planes and younger folds are open, southwest plunging with subhorizontal axial planes. The sedimentary sequence has been regionally metamorphosed to lower greenschist facies.

South of the occurrence, the Slocan Group has been intruded by the Middle Jurassic Nelson intrusions which comprise at least six texturally and compositionally distinct phases ranging from diorite to lamprophyre. The most dominant phase is a medium to coarse grained potassium feldspar porphyritic granite. Several feldspar porphyritic granodiorite dikes, apparently related to the Nelson intrusions, also cut the sedimentary sequence near the occurrence (Paper 1989-5).

The Mercury and Redress Fraction No. 2 claims are predominantly underlain by thinly bedded black argillite and argillaceous quartzite of the Slocan Group. The strata strike between 010 and 100 degrees and dip moderately to the west. The rocks are cut by steeply dipping joints normal in strike to the bedding. Several faults dip at various angles to the southwest. Most faults are at low angles or parallel to bedding.

The Mercury occurrence consists of two subparallel fissure veins striking 035 degrees and dipping 55 degrees southeast. The veins vary in thickness from a few millimetres to 1.5 metres. The main vein is exposed in the No. 1 adit near the boundary between the Mercury and Redress Fraction No. 2 claims. The vein has been developed on both properties from the same adit. It consists of tetrahedrite, galena, sphalerite, pyrite and chalcopyrite in a gangue of quartz and siderite. Gypsum occurs with limonite in the weathered surface exposures. A second vein is exposed 25 metres north of the No. 1 adit. This vein has been explored with the No. 2 adit on the Mercury Reverted Crown grant and the Mercury No. 3 adit on the Redress Fraction No. 2 property to the northeast.

Production from the Mercury and Redress Fraction No. 2 properties yielded about 1056 kilograms of silver, 70,966 kilograms of lead and 1635 kilograms of zinc from 201 tonnes mined between 1901 and 1980. Although most of the production came from the No. 1 adit on the Mercury property, 4 tonnes were mined from the Mercury No. 3 adit on the Redress Fraction No. 2 property in 1921 to produce 29,548 grams of silver and 2182 kilograms of lead.

Golden Slipper Mines Ltd. held the property in the early 1950s. Yukon Minerals Corporation investigated the property in 1986. During 2008 through 2010, Klondike Silver Corp. completed programs of soil and rock sampling, geological mapping and trenching on the area.