The Eliza occurrence is located near tide water on the western side of Port Eliza, approximately 2 kilometres north west of Eliza Island.
The area is underlain by granodiorite of the Jurassic Island Plutonic Suite which intrude Lower Jurassic Bonanza Group volcaniclastics.
Locally, the north west striking Port Eliza gold structure generally parallels the trend of a number of basic dikes within the intrusive host rocks. The structure consists of a quartz-calcite vein within a shear zone ranging from a few centimetres to over a metre in width. The structure extends through the Scott, Lower Adit and Upper zones for a known length of 240 metres. The Upper zone structure, traceable on surface for 75 metres, shows the strongest quartz vein development of the zones. Free gold occurs with pyrite, chalcopyrite and other very finely disseminated sulphides in a quartz gouge. The wallrock, mainly granodiorite or basic dikes, are strongly sericitized and silicified.
In 1938, surface sampling of a stringer zone in the hanging wall assayed up to 771.1 grams per tonne gold over 0.1 metre (Sanft, G.F. (1938-11-30): Report of Brief Examination of the Sunrise Group of Mineral Claims). In 1986, sampling of the Upper zone yielded values from 8.3 to 55.7 grams per tonne gold and 2.3 to 21.0 grams per tonne silver over widths from 0.1 to 0.5 metre (Assessment Report 14796).
In 1940, 12.7 tonnes of ore were shipped producing 435 grams gold, 93 grams silver and 10 kilograms copper (Geological Survey of Canada Paper 80-16, page 46).
The property was originally staked in 1938 as the Sunrise and Sunset groups. In 1939, the property was option and two adits and cross-cuts, totalling 177.2 metres, were completed on the hanging wall of the structure. In 1940, a test shipment was shipped to the Tacoma smelter. During 1983 through 1988, HQ Minerals completed programs of geochemical sampling and geological mapping on the area as the Monarch and Eliza claims.