The various mineralized outcrops of the Billy Goat showing occur on both banks of Hedley Creek, 2.5 to 3 kilometres north-northwest of Hedley.

Mineralization occurs along the southwest flank of the Aberdeen stock, a body of medium-grained hornblende diorite of the Early Jurassic Hedley Intrusions. This stock intrudes limestone with lesser interbedded argillite and quartzite of the Upper Triassic Stemwinder Mountain Formation (Nicola Group). The limestone is commonly light green and silicified (skarned?). These metasediments strike southeast and dip moderately southwest within a band outcropping along the west side of the creek. East of the creek, the metasediments occur as small remnants within the Aberdeen stock.

Mineralization is hosted in fine-grained siliceous skarn zones containing epidote, close to the Aberdeen stock. The zones are usually sheared and are mineralized with semimassive to massive clots of pyrite and pyrrhotite, with lesser chalcopyrite and sphalerite, over widths of up to 20 metres. One rock sample analysed 3.4 grams per tonne silver and 0.072 per cent copper, and a second analysed 1.62 grams per tonne silver and 0.16 per cent zinc (Assessment Report 17783, Appendix, samples BG01, BG04)