The Cypress massive magnetite showing is located at the head waters of Axe Creek, a tributary of the Gordon River.

The area is underlain by the contact of diorite of the Mesozoic and/or Paleozoic Westcoast Complex and a limestone roof pendant of similar age.

Locally, massive magnetite and minor sulphides occur in a heavily oxidized skarn zone hosted by limestone.

From 2005 to 2008, Le Baron Prospecting completed programs of rock and soil sampling and prospecting. Sampling assayed values of up to 0.7 parts per million silver, 2530 parts per million copper and 25.8 per cent iron (H031003; Assessment Report 30889).