The Eureka-Victoria property is located between 1525 and 1740 metres elevation on the north and west sides of Silver Peak, approximately 8 kilometres south-southwest of Hope.
The upper 600 metres of Silver Peak is composed mainly of Eocene conglomerate, part of a narrow north-trending band of sediments extending from just north of Hope to as far south as the U.S. border and beyond. The conglomerate strikes north and dips steeply to the east. To the east and north of Silver Peak, the country rocks are intruded by an Oligocene granodiorite. Monger (GSC Map 41-1989) shows a narrow, north- trending apophyses of granodiorite extending north from the Miocene Mount Barr Batholith and contacting the conglomerate on its west side along the eastern flank of Silver Peak, and the Oligocene granodiorite on its east and north sides. The western boundary of the conglomerate is defined by the contact of the Cretaceous Spuzzum pluton, consisting of mainly quartz diorite and diorite.
Cutting the conglomerate at an angle to both bedding and joint planes are a number of quartz porphyry dikes. The largest of these has an average width of 6 metres, and follows in an irregular fashion the line of Glory Hole gulch, which cuts through the middle of the property in a northwest direction.
The mineral deposits occur in well-defined fracture zones in the conglomerate, which coincide with northeast- trending joint planes. These fracture zones, several feet wide, have been developed through movement and brecciation along the joint planes. The principal deposits occur as veins within the fracture zones but rarely occupy the entire width of the zones. Emplacement tends to favour the hangingwall side of the zone.
The chief gangue minerals are siderite, limonite and quartz. The principal ore mineral is tetrahedrite, which carries varying proportions of lead, silver and copper. It occurs with siderite, quartz and pyrite as disseminations or as masses that rarely exceed a cubic centimetre in size.
The principal orebodies are called the Eureka, Victoria (formerly the Van Bremer) and Victoria West. A couple of minor orebodies cross the Glory Hole gulch below the Eureka lode.
The Eureka body has been traced across the summit of Silver Peak for approximately 427 metres, its course largely defined by solid conglomerate walls. Its width varies from 1.5 to 6 metres; it is at its widest east of the Glory Hole gulch. The proportion of vein and mineral material within this fracture zone is extremely variable. In 1924, it was reported that an adit was driven in the early days of development (which dates back to 1868) for 73 metres along the ore-body. A 61-centimetre sample taken across the face assayed 151.54 grams per tonne silver and 0.17 per cent copper (GSC Memoir 139, page 156).
The Victoria lode has been traced for approximately 366 metres on the south western slopes of Silver Peak. The general character is similar to that of the Eureka. By 1924, a 2.4-metre drift was driven on the ore-body, the mineralized part of which was approximately 36 centimetres wide. A sample across this yielded 399.43 grams per tonne silver and 0.30 per cent copper (Geological Survey of Canada Memoir 139, page 157). Approximately 70 metres above this short drift, another adit was driven for 15 metres along a vein of richly oxidized ore. The vein, which strikes nearly east and dips 70 degrees south, has an average width of 30 centimetres. A sample taken at the portal of this tunnel across 35.6 centimetres yielded 5785.76 grams per tonne silver, a trace of gold, 1.12 per cent copper and 11.96 per cent lead (Geological Survey of Canada Memoir 139, page 157). Another sample yielded 22,574.59 grams per tonne silver and 26.72 per cent lead. In 2014, diamond drilling of the Victoria vein yielded up to 3,496.91 grams per tonne silver over 3.31 metres from drillhole 14-03 and 2,717.3 grams per tonne silver over 2.1 metres, including 0.7 metre yielding 9,618 grams per tonne silver, from drill hole 14-01 (Assessment Report 35222).
The Victoria South ore-body and the smaller veins crossing Glory Hole gulch below the Eureka lode, are composed of much the same material as described above.
The occurrence has the distinction of being the first Crown-granted property in British Columbia. Discovered in 1868, considerable high-grade ore was apparently shipped from the time of discovery until 1874; however, no production data exists. The workings comprise several adits and a glory hole. The mine closed in 1874, due in part to transportation expenses, and in part to litigation with regard to ownership and management of the property. It is reported that during 1924 one of the old drift adits was extended and a small shipment of ore was made. In 1961, a new company was formed, a new crosscut was extended to 126 metres and a 69-metre raise was driven approximately 60 metres from the portal. In 1971, Holy Cross Mountain Mines drove a new drift for total of 61.5 metres.
Vanstates Explorations Ltd. acquired an option on the three Crown grants in 1980. In 1981, a 61-metre raise was driven from the Eureka drift and a new adit was driven 65 metres to intersect the raise. Based on this work, an indicated resource of 38,000 tonnes grading 449.15 grams per tonne silver, and an inferred resource of approximately 10,900 tonnes at the same grade were reported (Vanstate Resources Ltd., Statement of Material Facts 1983 [reported in National Mineral Inventory 92H6 Ag 9]).
In early 1983, a small ground electromagnetic survey was completed on the area as the Silver Peak claim. In 1990, the area was prospected as the Peak claim. During 1996 through 2014, Homegold Resources completed programs of geological mapping, prospecting, metallurgical testing, 45 metres of underground development on the Lower Victoria drift and seven diamond drill holes, totalling 19.7 metres, on the area as the Silver Peak 1-4 claims. The Lower Victoria drift was reported to return generally low silver values as the vein splits and bifurcates over a wide horizontal distance (Assessment Report 35222).