The Liza Lake B magnesite showing, 1 kilometre west of Liza Lake, is within serpentinized peridotites of the Permian and older Shulaps Ultramafic Complex.

The showing area is reported to be in the order of 15.8 by 14.6 metres. It is similar to the "Liza Lake A" magnesite in that it contains massive and crystalline magnesite cut by numerous veinlets of clear chalcedonic quartz. Locally the massive magnesite is vuggy with chalcedony filling the vugs. Minor mariposite and individual grains and clusters of chromite are common. Massive magnesite was analysed by the Geological Survey of Canada (Memoir 130) and was found to consist of 42.2 per cent MgO, 3.25 per cent CaO, 0.9 per cent Fe2O3, 0.59 per cent Al2O3, 48.55 per cent CO2, 4.08 per cent SiO2.