The area is underlain by northwest striking, southwest dipping tuffs and basaltic to rhyolitic flows of the Lower Jurassic Bonanza Group. The Bonanza Group conformably overlies Upper Triassic Vancouver Group volcanics and calcareous sediments. These rocks are intruded by Jurassic and Eocene granodiorites of the Island and Catface Intrusions. At the Beano occurrence, Bonanza Group white dacite and andesite tuffs are interbedded with a 10 metre wide band of limestone near a small Eocene stock. The limestone has been actinolite-altered and contains pyrrhotite plus or minus chalcopyrite.

Three styles of mineralization are recognized: 1) zones of quartz-calcite-pyrrhotite stringers 2) disseminated pyrrhotite 3) lenses of massive pyrrhotite measuring to 0.3 by 1.2 metres, as en echelon replacement of limestone along fractures. There are two sets of workings. The lower one, in the Bingo/Beano Creek Canyon, at an elevation of 710 metres, has 2 short adits, ranging from 2.0 to 2.5 metres in length and 2 small open cuts, exposing an area of 25 metres. The upper showing, above the creek canyon wall at elevation 800 metres, was explored by 4 open cuts.

Samples of massive pyrrhotite in the area have assayed up to 321.7 grams per tonne gold and 6.8 grams per tonne silver over narrow widths (Bulletin 27 p.138). Between 1948 and 1949, 21 tonnes of high grade ore was shipped and 3297 grams of gold, 1400 grams of silver and 33 kilograms of copper were recovered.