The Bluenose property is underlain by rocks of the Hadrynian? to Paleozoic Eagle Bay assemblage. These comprise quartzite, marble, hornblende-rich skarn and pink to grey paragneiss. In general, bedding or gneissosity dips at low angles to the east. The rocks are highly deformed and minor tight folds are very abundant.
The South zone, about 61 metres above the lake, is exposed by two cuts, a shaft and an adit reported to be about 76 metres long. The entrance of this adit is badly caved, but it was reported to contain about 3 metres of highly oxidized sulphide near the shaft. Mineralization exposed on surface consists of pyrite, pyrrhotite, chalcopyrite and sphalerite in brecciated hornblende-rich skarn, over a width of about 7.6 metres. The zone of brecciation appears to strike north-northeast and dips steeply east. About 122 metres south of the main showing, two adits are driven into paragneiss and are both about 15 metres long. Minor sphalerite, chalcopyrite and pyrite is exposed at the entrance of the most southerly adit.