The former Panama mine is located at 2026 metres elevation on the eastern slopes of London Ridge. The London Hill occurrence (082KSW115) is located 850 metres to the southwest. New Denver, British Columbia is situated 14 kilometres to the southwest.
The now escheated Panama claim (Lot 3152) was first Crown granted in 1899 to H. Giegerich and M. MacKay. Intermittent development work and production was conducted between 1909 and 1916. Further development work, but no production, was continued from 1920 to 1926. During these early years development and production was from two or more small adits. In 1950, London Hills Ltd. acquired an option on the Panama, London Hill, Silver Glance (082KSW028) and Empress (082KSW116) properties. No work was reported from 1950 to 1957, when the company charter was surrendered and the option dropped. Vimy Explorations Ltd. acquired an option on 13 claims of the Panama, London Hill, Silver Glance and Empress properties in 1960 and began an exploration program. In 1964, a new 130-metre crosscut adit was driven 24 metres below the old workings. In 1965, a new crosscut adit was driven 14 metres to the Panama vein. Drifting and crosscutting, amounting to 111 metres, and 65 metres of diamond drilling in three holes were also completed. The southern extension of the Panama vein was explored by 584 metres of diamond drilling in 5 holes, in 1969. No further production was reported until 1970, under option to T. Steenhoff. The company charter was dissolved in 1974. United Hearne Resources Ltd. acquired the property in the same year and mined a total of 2312 tonnes ore in 1974, 1975, 1976, 1979 and 1980. In 1994-1995, a program of prospecting and underground sampling was completed, returning values up to 14,970 grams per tonne silver from quartz vein material (Assessment Report 24078).
Hostrocks of the Panama occurrence are slates with interbedded argillite and quartzite of the Triassic Slocan Group. These strata strike northwest and dip southwest or northeast at low angles and are intruded by numerous quartz porphyry dikes.
The Panama vein strikes easterly and dips 55 degrees to the south and ranges from several centimetres to 60 centimetres width. The vein is composed primarily of quartz hosting tetrahedrite.
Total recorded production from the Panama occurrence is 2666 tonnes yielding 3,838,539 grams silver, 845 grams gold, 919 kilograms copper, 11,759 kilograms lead and 2911 kilograms zinc.