The Valparaiso (spelled Vallparaso in the Crown grant listings) (Government) showings are located on Lots 4907 and 4908 respectively, just north of the steep headwaters of Ginol Creek that flows into Kootenay Lake about 1.5 kilometres south of Columbia Point. The property was originally discovered in the early 1900s and has recently been re-explored by Dobrana Resources Ltd. and drilled by Inco Ltd. in the late 1980s.
The principal deposit is a persistent, quartz-filled fissure in a lobe of the middle Cretaceous Bayonne batholith near its contact with sediments. Nowhere has the vein been traced into the sediments. In this locality the batholith consists of biotite granite and granodiorite, locally altered to chlorite and sericite along the vein walls. Mineralization consists of pyrite, arsenopyrite, wolframite, galena, sphalerite and chalcopyrite, in approximate order of abundance. The first three of these minerals occur together; wolframite and arsenopyrite tend to be restricted to the margins of the veins, and occur in the sheared and altered footwall, or ribbons near the vein margins. Gold and silver values are proportional to the amount of sulphides present, which occur as bands, blebs and disseminations in the quartz. A biotite lamprophyre dike is found adjacent to the Valparaiso vein.
The vein occupies a fault that strikes 350 degrees and dips 40 degrees east, parallel to the Sarah 2nd or Imperial vein (082FSE055) to the east and 200 metres above the Valparaiso. Additional quartz veins have been reported to occur between these two veins. The vein has been exposed by 160 metres of drifting in the Government workings, 200 metres of drifting in the Valparaiso workings, and by pits, trenches and outcrop for about 650 metres to the north of the Valparaiso workings, for a total strike exposure of approximately 1000 metres. The vein varies between 0.3 and 7.6 metres, averaging about 1.25 metres wide.
Shipments from this property were made in 1900 and 1901 by Valparaiso Gold Mining Co. Ltd. A trial shipment of 293 tonnes in 1933 assayed 11.7 grams per tonne gold and 120 grams per tonne silver (Minister of Mines Annual Report 1933, pages 239-240). Tungsten concentrate was produced in 1955. Extensive sampling, assaying and compilation was done by Custom Mining Inc. in 1980-1981 (Assessment Report 10811).