The Elk No. 1 showing is located 200 metres east of the Similkameen River and 18.5 kilometres south of Princeton.

The area is underlain by the eastern facies of the Upper Triassic Nicola Group consisting of mafic augite and hornblende porphyritic pyroclastics and flows. These rocks are intruded by diorite and monzonite, locally pyroxenite and gabbro, of the Early Jurassic Copper Mountain and Lost Horse intrusions.

A number of potassium feldspar veinlets occur in a 30 by 60 metre area in diorite of the Copper Mountain stock (Copper Mountain Intrusions), about 80 metres north of its contact with Nicola Group volcanics. The veinlets are discontinuous, varying up to 12 metres in length, and 8 centimetres in width. This veining is of relatively low density, with one veinlet occurring roughly every 4.6 metres.

The veinlets are comprised mostly of pink potassium feldspar (orthoclase). Wider veinlets also contain smoky quartz. The veins are mineralized with malachite and bornite. These veins are similar to "red potash feldspar pegmatite" veins carrying bornite and chalcopyrite that are noted to occur frequently in the Copper Mountain stock (Bulletin 59).

The showing was mapped by Newmont Mining Corporation of Canada Ltd. in 1970 and 1971.

Aquitaine Company of Canada Ltd. carried out geological, geochemical and geophysical surveys on the property in 1974 and 1975.

Targa Resources Inc. carried out geological and geochemical surveys on the property in 1987.

No significant work has been reported in the property area from 1987 to 2010.

In 2010, Anglo Canadian Mining Corp. carried out a program of 26.4 line kilometres of induced polarization and magnetometer geophysical surveys and 5732.4 metres of NQ-size diamond drilling in 22 holes. The work was an attempt to delineate copper-gold porphyry mineralization. Highlights included vertical drillhole PR-11-21, which contained a 38-metre section grading 0.564 per cent copper. The induced polarization survey showed a very strong (> 35 milliseconds) chargeability anomaly in the southwestern part of the grid in the Nicola volcanics south of the stock (Assessment Report 33070).