The Old Ironsides 2 occurrence is located on a steep south-facing slope, 3.5 kilometres southeast of the southern end of Barkshack Lake and at an elevation of approximately 1450 metres.

Regionally, the area is underlain by a northwest trending roof pendant comprised of Lower Cretaceous Gambier Group volcanic and sedimentary rocks, within the Jurassic to Cretaceous Coast Plutonic Complex. Quartz mica schist, quartz chlorite schist, biotite schist, marble and limestone. Intercalated with the quartz mica schist are bands of undifferentiated siliceous metavolcanic and metasedimentary rocks that are locally hornfelsed with local skarn development. Coast Plutonic Complex rocks are granodiorite to quartz monzonite in composition. Near the pendant contacts, the granodiorite is occasionally strongly silicified and/or argillic- altered with up to 10 per cent disseminated pyrite. Small irregular quartz sweats occur locally with variable amounts of coarse-grained pyrite.

Locally, a felsite hosts a 0.4 metre thick quartz vein with disseminated pyrite. In 2000, a select sample (P197019) assayed 1.70 grams per tonne gold and 69.4 grams per tonne silver (Assessment Report 26243).

In 1999 and 2000, the area was prospected and soil samples were collected as the Old Ironsides 1-3 claims.