The Elk claim is located on the crest of the ridge south of Speculator Creek, 8 kilometres east of Slocan City. Access is from the Slocan highway via the Springer Creek and Tobin Creek roads.

The Elk claim (Lot 5503) was Crown granted in 1902. Development work consists mainly of several open cuts along the ridge and a short adit at 2200 metres elevation. The target of exploration is a narrow oxidized quartz vein hosted by a porphyritic feldspar phase of the Nelson granitic batholith. The vein strikes 115 degrees, dips 30 degrees southwest, and varies from 20 to 30 centimetre in width. The tunnel at 9 metres from the portal encountered a fault, and a 6-metre crosscut to the southwest picked up the continuation of the vein. Assay results on a composite sample of the ore, which is oxidized quartz with sparse pyrite, show 6.9 grams per tonne gold and 340 grams per tonne silver.