The Smeralda property is west of the upper section of Dayton Creek, 3.5 kilometres east of Slocan. Access from the Slocan highway is via switchback jeep road that joins the Springer Creek road. The Smeralda adjoins, to the southeast, the Exchange (082FNW174).

The adjoining Smeralda (Lot 2424), Silver Plate (Lot 1524) and Exchange (Lot 1523) Crown granted claims develop a vein system in Nelson granite.

A quartz vein in Nelson granite has been explored by three adits, a shaft and a 30-metre winze on the Exchange claim near the border with the Smeralda claim. The vein is 1.5 metres wide, banded with clear and milky white quartz and pyrite accompanied by some galena, sphalerite and ancillary silver-bearing minerals.

Production from the Smeralda claim in 1934 amounted to 2.7 tonnes, yielding 18,880 grams of silver, 141 kilograms of lead and 308 kilograms of zinc. Total production including the adjoining claims is estimated to be more than 50 tonnes, although records are incomplete.