The Golden Cyprus occurrence is located on the northeastern side of a small hill east of Big Timothy Mountain and approximately 3.7 kilometres west of the southern end of Hendrix Lake.

Regionally, the area is underlain by gabbroic to dioritic rocks of the Buster Lake unit and granodioritic intrusive rocks of the Boss Creek unit of the Late Triassic to Early Jurassic Takomkane Batholith, which have intruded basaltic volcanic rocks and marine sedimentary rocks of the Upper Triassic Nicola Group. To the northeast a small body of granitic intrusive rock of the Middle to Late Jurassic Ste. Marie Plutonic Suite and mafic to ultramafic rocks of the Early Jurassic Polaris Ultramafic Suite are exposed.

Locally, a diorite adjacent to a silicified and argillaceous tuff hosts sulphide (chalcopyrite?) mineralization over a length of 450 metres.

Another zone of mineralization is located approximately 2.5 kilometres to the northeast on the first creek north of Bowldy Creek and on the former Jackpot claim. This zone is a shear zone with fracture-filling sulphide mineralization over an area of 100 by 300 metres. The north side of the shear zone is a diorite matrix with minor basic volcanic fragments breccia, while the south side is a basic tuff and argillaceous rock.

In 1984, a sample (1553) from the main zone assayed 1.061 per cent copper with 2.9 grams per tonne silver, whereas a sample (1542) from the second zone to the northeast assayed 0.113 per cent copper (Assessment Report 13418).

In 1984, Golden Fleece Resources completed a program of rock sampling, trenching and ground geophysical surveys on the area as the Golden Cyprus and Jack Pot claims.