The Enterprise showing occurs on the southeast coast of Prideaux Island in Sechart Channel.

The area is underlain by the Paleozoic and/or Mesozoic Westcoast Complex comprising diorites, metavolcanic and metasedimentary rocks. These are intruded by granitic rocks of the Early to Middle Jurassic Island Plutonic Suite. Lenses of recrystallized limestone and skarn occur within the Westcoast Complex.

Chalcopyrite and pyrite with possible traces of cinnabar are disseminated through a quartz vein at a contact between limestone and diabase. The width of the quartz vein is reported as 6.7 metres at the surface. The contact has reportedly been seen on Nettle Island and further to the southeast. Movement along the contact is indicated by well-defined slickensides and brecciation of the quartz. Surface workings and a 12.1 metre shaft were reported in 1906. Claims of high gold and mercury values were not reproduced in assay results (trace gold, no mercury) possibly due to the oxidation of the ore on the dump (Minister of Mines Annual Report 1906, page 189).