The Ladybug showing is exposed over 50 metres along an old logging road on Mount Fowler, north of Anglemont. The occurrence was originally discovered by N. Stephanishin and D. Pipe under a 1996 Prospectors Assistance Program grant. In 1998, Leo Lindinger, in partnership with Mr. Pipe, further explored the Ladybug under a 1998 Prospectors Assistance Program grant. Further discoveries were made on the property at this time.

The property is underlain by Paleozoic metasediments of the Eagle Bay Formation and Devonian Mount Fowler granodiorite orthogneiss. Galena, sphalerite, magnetite and rare pyrite are hosted by greenish, epidote-tremolite(?), locally calcareous rock. Lamintated, pale green quartz-epidote rock is also common and may be altered chert or quartzite. The mineralization has the appearance of stratabound, Shuswap type Pb-Zn mineralization, however, the presence of calc-silicate minerals and nearby Tertiary felsic dikes suggests that it may have formed through metasomatic processes.

Cross Lake Minerals Ltd. optioned the property in December 1998. Channel sampling by Jim Millar-Tait returned up to 9 metres of 1.9 per cent zinc, 78.2 grams per tonne silver, 0.19 per cent copper and 1.12 per cent lead, including 0.5 metre of 7.42 per cent zinc, 550.0 grams per tonne silver, 0.92 per cent copper and 6.65 per cent lead (Cross Lake Minerals Ltd. Press Release, December 10, 1998). The company completed IP, magnetic and soil surveys in 1999. Five holes (approximately 300 metres) were drilled in 1999.