The Homestake claim (Lot 15283) is centred on Memphis Creek 1.5 kilometres east of the Slocan highway, 6.5 kilometres north of Slocan. The main workings, on the north side of the creek at the elevation of 1000 metres, are reached by a short access road from the highway. The property was previously known as the Hamilton. This claim may have also be covered by the Joyce (082FNW214).
The Homestake deposit outcrops where the mountain slope breaks over into Memphis creek valley. It has been developed, between 1968 and 1970, by two short adits and several raises. Significant gold and silver values are reportedly associated with mainly pyrite mineralization, accompanied by minor tetrahedrite, arsenopyrite, native silver and possibly argentite. These minerals are found in a narrow quartz vein which strikes northwesterly and dips steeply to the northeast. The principal structure hosting the vein is a shear zone about 3 metres wide that cuts a coarse porphyritic phase of the Nelson granitic batholith.
At the Hamilton, intermittent production from 1903 to 1915, totalled 33 tonnes of ore, yielding 115,299 grams of silver, 93 grams of gold and 1921 kilograms of lead. Production as the Homestake from 1968 to 1971 totalled 330 tonnes, yielding 861,491 grams of silver, 7370 grams of gold, 440 kilograms of lead and 503 kilograms of zinc.