The Meteor property, comprising the Meteor (Lot 2893), Ottawa No. 5 (Lot 2892) and Cultus (Lot 2891) claims and fractions, is situated at the head of Tobin Creek on the northwesterly slope of the divide between Lemon and Springer creeks, 8 kilometres east of Slocan. Access to the property from the Slocan highway is via the Lemon Creek and Chapleau Creek roads.

The Meteor (Lot 2893) Crown-granted claim was staked in 1895. J.A. Finch & associates optioned the property in 1896 and the initial production of ore, amounting to about 70 tonnes, was shipped in 1897, yielding 1182 grams of gold and 466,545 grams of silver. Since this time mining continued intermittently, until 1985, achieving greatest production of 1,715 tonnes of ore in 1964. Total production from the Meteor mine is 2,659 tonnes of ore yielding 4,724,994 grams of silver, 13,177 grams of gold and a small amount of lead and zinc.

Three claims, the Cultus, Ottawa No. 5, and Meteor (Lots 2891-2893 respectively) were Crown-granted to Finch & associates in 1899. The vein was apparently not found in the lower adit and work ceased in about 1900. Lessees carried out intermittent exploration and development during the period 1905 to 1917. J.C. Buchanan acquired the property in 1919 and began driving No. 6 level adit; he continued the project in 1922 and 1923. Lessees worked the property in 1928 and intermittently from 1932 to 1940. Some ore shipments were made under the name Meteor Mining Company, which may have been an American incorporation. In the early 1930's the owners of the property were reported to be E. Murphy and M.S. Mayfield. Development work to that date comprised 6 adits, of which the three lower ones totalled over 426.7 metres of drifts and crosscuts.

Cultus Explorations Ltd. was incorporated in May 1963 to acquire the above Crown-grants, and the Deadwood claim (Lot 3576). No. 6 level was rehabilitated for 244 metres and stoping and underground diamond drilling carried out. A 50 ton-per-day mill, installed near No. 6 adit, was put into operation in 1964. Drifting, crosscutting and raising during the year totalled 123.4 metres. The mine closed in November 1964. Lessees carried out some underground exploration work in 1967 and 1970.

The area is dominated by granitic rocks of the Middle to Late Jurassic Nelson Intrusions. Host rock at the Meteor occurrence is a medium-grained potassium feldspar porphyritic granite, commonly crosscut by dykes of biotite diorite and pegmatitic granite phases. The dykes range from 10 centimetres to 3 metres in width, strike north-northeast and north-northwest with moderate to steep dips. Contacts with the granite country rock are sharp and shearing is common along these zones.

Faults, shear zones and joints are oriented predominantly in north and north-northeast directions with generally near vertical dips. North trending faults and shears commonly display strike-slip displacements, while north-northeast trending structures commonly display dip-slip displacements.

The workings of the Meteor mine consist of six adits that intersect a 5 to 50-centimetre wide vein that strikes 105 degrees and dips 35 degrees north. Vein mineralization is associated with the sheared upper contact of a 3-metre wide dike and narrow off-shoot fissures. Quartz veining is localized mainly at the sheared dyke contact but also occurs as narrow (1-2 centimetre) veinlets adjacent to the main vein. These veinlets constitute stockwork mineralization in the dyke up to 1 metre from the main vein. The dyke rock is pervasively sericitized in the zones of quartz veining and contains up to 2 per cent disseminated crystalline pyrite. Both the dyke and the quartz veining are dislocated by a series of nearly parallel vertical post-mineralization faults. Displacement along the faults is of a dip-slip nature with the southeastern side of the faulting being downdropped.

The vein is largely quartz carrying some sphalerite, galena, tetrahedrite, stephanite, argentite and native silver. Pyrite and chalcopyrite are also present and associated with significant gold values. Scheelite was discovered in the Meteor vein on No. 2 level as a wedge-shaped body approximately 3.6 metres long and 10 centimetres thick at the base. A small amount was also found on No. 4 level. Scheelite also occurs in the No. 6 level adit as disseminated grains along a moderately well-developed fracture striking 320 degrees and dipping 80 degrees northeast in the granite country rock (Assessment Report 9607). Examination of material from the Meteor dump in 1980 revealed molybdenite occurring locally within quartz stockwork hosted by sericitic granite, but was not found in the workings.

A sample of dump material taken in 1987 assayed 2300 grams per tonne silver, 4.3 grams per tonne gold, 0.135 per cent lead, 0.0317 per cent copper and 0.083 per cent zinc (Open File 1988-11). Yukon Minerals Corporation worked the property in 1987.