The Goatfell occurrence is located along the CPR railway about 1.5 kilometres west of Carroll Creek. This occurrence includes an extensive area of tourmalinite float, 2.5 kilometres to the south of the Goatfell tourmalinite body. The float contains galena and sphalerite in an intensely brecciated tourmalinized matrix.
The occurrence lies within the Middle Proterozoic Purcell Supergroup, a thick succession of siliciclastic and lesser carbonate rocks. This sedimentary succession contains the Sullivan deposit (082FNE052), one of the world's largest massive sulphide sedimentary-exhalative lead-zinc deposits which lies approximately 70 kilometres to the north. Stratigraphically, this deposit is hosted by the Aldridge Formation, at the Lower Aldridge/Middle Aldridge contact.
The Goatfell occurrence is related to a body of tourmalinite (the Goatfell tourmalinite) that crosscuts Middle Aldridge sediments in the structural panel between the Spider and Moyie faults. The tourmalinization of the sediments varies, reflecting original lithologies, and is semiconcordant. The sediments are quartz wackes, quartzites and argillites.
The tourmalinite alteration zone is cut to the west by the Spider fault, a steeply eastward dipping reverse fault. A zone of silicification and muscovite alteration occurs in the hangingwall of the Spider fault and may be unrelated to the tourmalinite zone.
Four diamond-drill holes in the footwall of the Goatfell tourmalinite in 1988-1989 were focused on testing the Sullivan time horizon (the projected Lower-Middle Aldridge contact). Minor tourmalinite and fracture controlled sphalerite and galena was intersected in these holes. No drilling has been conducted in the hangingwall of the Goatfell tourmalinite.
An extensive area of tourmalinite float, containing galena and sphalerite within an intensely brecciated tourmalinized matrix, occurs about 2.5 kilometres to the south (Assessment Report 21939).
In 1995, Inmet Mining Corporation conducted an EM geophysical survey. In 1996, White Knight Resources drilled 8 holes, totalling 2016.7 metres.