The Chance showings are located 10 kilometres southwest of Kamloops. They are bounded by Anderson Creek to the south, Peterson Creek to the north and west, and Humphrey Creek to the east. The property lies 1,000 metres west of the Ajax open pit mine.

The Chance showings are shear zones in Upper Triassic Nicola Group augite porphyritic andesitic volcanic rocks intruded by diorite of the Late Triassic to Early Jurassic Iron Mask batholith. The shear zones are between 0.3 to 1.5 metres wide and host quartz veins and stringers that pinch and swell and are between 15 to 35 centimetres wide. The veins are mineralized with pyrite, chalcopyrite and galena; low values in gold were reported with occasional high assays. Most of the shear zones are hosted by porphyritic andesitic volcanic rocks but one occurs at the contact between argillite and andesite and contains local pyrite and chalcopyrite mineralization. This zone comprises thin bedded argillites intercalated with altered volcanics. The argillites are locally brecciated, fissile and healed with a quartz-calcite matrix.

Old workings consist of three shafts, several trenches and open cuts. One shaft, 54.8 metres deep, was sunk on a shear zone striking 280 degrees and dipping 60 degrees southwest. The shaft has short levels driven from it at depths of 30 and 36.5 metres but is filled with water to immediately below the 36.5-metre level (ca. the early 1940s). Samples of quartz vein material with chalcopyrite from the No. 2 shaft dump yielded up to 4.0 grams per tonne gold, 11.3 grams per tonne silver and 0.4 per cent copper (Assessment Report 16137). The workings on the Chance showing were examined in the early 1940s. In 1972, a soil survey (661 samples) and ground magnetometer survey (26 kilometres) was conducted over the Tia claims on behalf of Lori Explorations Ltd. In 1978, Cominco Ltd. completed an induced polarization (7.7 kilometres) and ground magnetometer (7.7 kilometres) survey over the Wildrose claim, which covered the showings at that time. In 1980, soil sampling (915 samples), VLF-EM (27 kilometres) and an induced polarization survey (3.5 kilometres) was run over the showing and the Buda showing (MINFILE 092INE116) to the north. In 1981, Argenta Resources Ltd. completed three diamond drill holes totalling 381 metres drilled. Two holes were drilled on the Buda showing and one hole on the Chance showing. In 1985, geological mapping was conducted on the Edith property on behalf of Argenta Resources Ltd. In 1986, Afton Operating Corporation conducted 2.7 kilometres of self-potential and resistivity survey. In 1987 and 1988, geological mapping and a VLF-EM 16 survey was conducted by J.D. Murphy on the Hump claim. In 2000, Planet Ventures Inc. completed 0.8 kilometre of a VLF-EM survey, airphoto interpretation and rock sampling on the Planet claims. In 2001, Planet Ventures completed two diamond drillholes, 110.3 and 108.2 metres in length. Drillhole one intersected a mineralized andesite with quartz/carbonate-filled fractures and drillhole two intersected an altered diorite containing up to 3 per cent chalcopyrite. Minor zones of mineralization were intersected but overall there was no indication of potentially economic mineral zones. By 2006, the showings were included in the Iron Mask property owned by Lyra Resources Limited, now known as Cicada Ventures Limited. From 2006 to 2011, various drilling programs and geochemical and geophysical surveys were conducted on other areas of the Iron Mask property.

In 1985, a selected grab sample from a trench analyzed 1.64 per cent copper, 9.6 grams per tonne silver and 24.8 grams per tonne gold (Assessment Report 14310). Assays of 2001 core samples returned 0.61 metres of 3 parts per billion gold and 159 parts per million copper from drillhole one, and 0.61 metres of 72 parts per billion gold and 2181 parts per million (0.22 per cent) copper from drillhole two (Assessment Report 26850).