The Lockhart is a new showing discovered in the late 1970s during construction of a logging road (actually, the Upper showing, which is on map sheet 82F10 to the north). Subsequent road building and exploration in the early 1980s discovered the Lower and LK-3 showings at an elevation of 1000 metres, about 4 kilometres north of Boswell on the east side of Kootenay Lake.

The country rock consists of quartzite, argillite, limestone and quartzite boulder conglomerate of the Horsethief Creek Group of Upper Proterozoic age (Windermere Supergroup). The local formations are unnamed; the rocks strike northerly. Mineralization consists of quartz veins up to 15 centimetres thick containing pod-like and erratic concentrations of galena and sphalerite; grab samples assay up to 14 per cent lead and 750 grams per tonne silver, with zinc not specified (Assessment Report 8889). Minor pyrite is associated with the veining at the Upper showing, but at the lower showings pyrite is confined to disseminations in the argillites and is likely metamorphic in origin. Minor sericite alteration is noted in the quartzite boulder conglomerate at the Upper showing; this conglomerate is noted as a preferred host to mineralization at several locations on the property.