The Whip prospect is 800 to 1200 metres north of the west end of Smelter Lakes and 9.5 kilometres south-southwest of Princeton.

This area along the Similkameen River, in the vicinity of Smelter Lakes, is underlain by intrusive rocks of the Lost Horse Intrusions and the Smelter Lake stock (Copper Mountain Intrusions), both of Early Jurassic age, and volcanics of the Upper Triassic Nicola Group. All units are unconformably overlain by volcanics and sediments of the Eocene Princeton Group.

An inlier of intrusive rocks, surrounded by basalt and hornblende andesite of the Princeton Group, occurs just northwest of Smelter Lakes. Most of the inlier is comprised of diorite and porphyritic monzonite of the Lost Horse Intrusions. The southwestern portion of the inlier consists of diorite of the Smelter Lake stock.

Disseminated chalcopyrite and pyrite occur intermittently in Lost Horse rocks over a north-south distance of about 400 metres. Chalcopyrite is also present along shears containing quartz-carbonate stringers in the northern part.

This prospect was explored by Newmont Mining Corporation of Canada Ltd. in 1971 and 1972. The company completed geological and soil surveys, 670 metres of trenching and 339 metres of diamond drilling in two holes.