A 240 to 300 metre wide band of limestone outcrops on Despair Point on the northeast coast of Banks Island and continues southeastward for 1.2 kilometers. The band contacts gneissic diorite and migmatite to the northwest and quartz diorite to the west. The limestone strikes 100 degrees and dips vertically. It is occasion- ally split into two bands by pyrrhotized quartzite and banded silici- fied schist.

The deposit is comprised mostly of white, coarse-grained limestone and minor grey, medium-grained limestone with irregular interbeds and masses of dolomite. A 15.2 metre chip sample taken across light grey limestone on the northeast side of the deposit contained 52.80% CaO, 0.85% MgO, 1.66% SiO2, 0.53% Al2O3, 0.20% Fe2O3 and 0.03% sulphur, while a sample taken across a 4.6 metre thick bed of coarse-grained white dolomite near the southwestern edge of the deposit contained 31.72% CaO, 20.62% MgO, 0.78% SiO2, 0.15% Al2O3, 0.08% Fe2O3 and nil sulphur (Canmet Report 811, page 176 - Samples 35 and 35A).