The Lucky Lead occurrence is underlain by amygdaloidal basalt of the Upper Triassic Karmutsen Formation (Vancouver Group) near a narrow, elongate diorite intrusive which outcrops along the coast.

A short adit is developed in basalt along a sulphide-bearing shear zone which also cuts a narrow mafic dyke. The shear zone is subvertical and strikes 090 to 100 degrees. Several thin shears, up to 5 centimetres wide and containing abundant pyrite and chalcopyrite, form the 2 metre wide shear at the adit portal. A composite rock sample of two distinct shears, each approximately 20 centimetres wide, which are exposed along the roof of the adit, assayed 0.4 per cent copper, 5.03 grams per tonne gold and 10.1 grams per tonne silver (Assessment Report 17947).