The Silver Reef prospect is located on a divide between Carpenter and McGuigan creeks, at 1824 metres elevation. The former Payne mine (082KSW006) is located 1.0 kilometre to the northwest and the former Washington mine (082KSW008) is located 800 metres to the northeast. The area lies roughly 10 kilometres northeast of New Denver, British Columbia.
No geological information could be found on the Silver Reef prospect. Historically, work was reported on the Silver Reef Group in 1919 and 1920. One carload of ore was shipped from the Washington and Silver Reef groups in 1920 (Minister of Mines Annual Report 1920, page 125).
Because of its proximity to the former Washington mine (records lump these two claim groups together), the geological description of the former Washington mine has been provided. Lithologies hosting the Washington mine include interbedded quartzite, argillite and limy shale of the Triassic Slocan Group. Their general strike is 110 degrees, dipping 51 degrees southwest. These are locally intruded by quartz feldspar porphyry dikes and sills. Workings are hosted in the upper limb of the recumbent fold hosting the former Payne mine. Northeast of the principal workings the structure is complicated by faulting with strata dipping northeast in a syncline. These strata are equivalent to those in the underground workings and on either side beneath the centre of the ridge.
At the former Washington mine ore is hosted in a fault-fissure zone, along which considerable shearing has occurred. The zone has a general strike of 050 degrees and dips steeply southeast in most places. In the productive zone the load was composed of brecciated wallrock, quartz, calcite and siderite hosting galena, sphalerite, tetrahedrite, chalcopyrite and pyrite. Ore minerals were interbanded, or with quartz, or occurred as streaks and bunches in quartz. Lode thickness varied from 5 centimetres to 3.66 metres. Mineralization has been controlled by bedding and jointing, with the general trend of the Washington-Slocan Boy lode following jointing. No one fissure was continuously mineralized.
During 2008 through 2010, Klondike Silver Corp. completed programs of soil and rock sampling, geological mapping and trenching on the area.
