This property is located on the northeastern corner of Princess Royal Island, about 9 kilometres north-northwest of the tip of Swanson Point. The vein itself is situated at an elevation of about 146 metres.

The Malcolm claim was Crown-granted in 1916 to J. Falkner. Some tunneling was done on the property.

A quartz vein, 1.2 to 3.6 metres wide, occurs in biotite- sericite schist within granodiorite of the Butedale Pluton. The vein strikes parallel to the schist 160 degrees, and dips 36 degrees northeast. It is mineralized with abundant pyrrhotite and minor pyrite. Anomalous gold occurs with sulphide mineralization.