The Anzac deposit is located on the western slopes of Mount Emmet, 122 kilometres north-northeast of Prince George and 43 kilometres due east of McLeod Lake.

The area is underlain by the Precambrian Misinchinka Group and the Lower Cambrian Gog Group. The Misinchinka Group consists of fine to coarse grained marine clastic rocks comprising slate, quartzite, grit, diamictite, phyllite and minor carbonate rocks. The Gog Group consists of quartzite, dolomite, sandy dolomite and slate, limestone, shale and siltstone.

Magnesite occurs in the Gog Group. Several sections have been measured across the gradational transition from the Misinchinka Group to the Gog Group. Magnesite-bearing rock occurs within a downfaulted block containing rocks of both the Gog and Misinchinka groups.

The Anzac deposit consists of six showings: Fria, Knoll, Knob, Hela, Emmet and Odin. The showings are hosted in carbonate of the upper division of the Gog Group.

The magnesite is massive, sparry and has few preserved sedimentary features. The composition is the minimum grade (36.5 per cent MgO) considered for economic development. Zones of magnesite range from 3 to 11 metres wide and is either white-buff or medium to light grey in colour. Mapping shows that a magnesite unit extends over a length of several kilometres but continuity between individual showings is not established.

The best result from diamond drilling in 1989 yielded 42.84 per cent MgO, 0.99 per cent SiO2, 1.67 per cent Al2O3+Fe2O3 and 0.088 per cent CaO/Mg) across a 3.3 metre core length in drillhole 89-02 (Assessment Report 19213).

The earliest reference to the magnesite occurrence is that by Muller and Tipper (1969, Geological Survey of Canada Map 1204A), who stated that coarse crystalline magnesite is interbedded with fine-grained dolomite in 50 feet (15 metre) beds in an unnamed unit of quartzite, calcareous sandstone, grey, green, and black silty shale, dolomite and limestone. In June and July of 1986, MineQuest Exploration Associates Ltd. carried out a literature review of sediment-hosted magnesite deposits in British Columbia for Norsk Hydro, at the request of Mr. Tore Vralstad, Exploration Manager of the Magnesium Division. Following a site visit in 1986, seven mineral claims were staked to cover the prospective ground to cover several occurrences of sediment-hosted magnesite along a strike length of about five kilometres. In the fall of 1986, reconnaissance sampling and geological work was completed on the five initial showings on the claims, followed by photo-geological mapping. The property was reduced to 72 units from 124 in late 1988. During June of 1989, a limited diamond drill program of three holes totalling 287 metres tested two of the magnesite showings. The drilling established the presence of two magnesite bands to a vertical depth of at least 115 metres, over a true width of up to 14.5 metres. In the summer of 1990, Mr. Vralstad commissioned a program of geological mapping and sampling to further refine the understanding of the magnesite occurrences.

In 2014, MGX Minerals Inc. staked the Anzac claim which covers the showing.