The Pit occurrence is located on the northeast side of Pitt Island, approximately 70 kilometres southeast of Prince Rupert. Access is by helicopter from Prince Rupert or by boat.

A narrow northwest trending metasediment-metavolcanic belt lies west of the Grenville Channel fault and east of rocks consisting of diorite to quartz diorite of the Coast Plutonic Complex. The metamorphic rocks consist of quartzite, quartz-muscovite schist, phyllite, conglomerate, and biotite schist.

The main showing occurs as a concordant, steeply dipping zone, between micaceous quartzite and quartz-muscovite schist, 20 to 30 metres from the intrusive contact. The massive sulphide schist band is exposed along Pyrite Creek for 300 metres, over a vertical range of 170 metres, at an average width of one metre. It strikes about 140 degrees and dips about 70 degrees southwest. The "conglomerate" texture of the sulphide schist is likely the result of tectonic fragmentation. The zone coincides with a major fault and is crosscut by shears and faults with left-lateral displacements. Mineralization consisting of pyrite, chalcopyrite, sphalerite, pyrrhotite, galena, and covellite is most intense in the cross structures and occurs as fracture fillings, discrete enhedral grains, and stringers within the laminae of the schist. An average of 10 channel samples collected across the thicker (1.2 metre) central section of the zone assayed 2.32 per cent copper, 0.57 per cent lead, 2.53 per cent zinc, 52.0 grams per tonne silver, and 0.48 gram per tonne gold (Assessment Report 15674).

In 1980, a massive sulphide occurrence was discovered on Pyrite Creek by Ryan Exploration Company Ltd. (a subsidiary of US Borax) while conducting regional reconnaissance work along coastal British Columbia and the Pit claim was staked. In 1981, limited field work was conducted on the claim. In 1982, evaluation of the property included geological mapping, rock sampling, prospecting and a VLF EM-16 (17.3 line kilometres) geophysical survey. The Pyrite Creek area was mapped as part of a B.Sc. thesis by B. McDonald and in 1983, B. McDonald completed a his thesis (University of British Columbia) on the geology and opaque mineralogy of the main showing and host rocks along the Pyrite Creek avalanche gully.

In 1986, the Pit claim lapsed. The main showing area was restaked by B. McDonald and R. Haslinger as the Trinity l-2 claims and subsequently optioned to BP Resources Canada Limited in April, 1986. The Gren claims were staked and BP Selco conducted regional mapping, prospecting, stream sediment sampling of the major drainages, limited soil sampling and detailed mapping and chip sampling of the Pyrite Creek sulphide zone. The massive sulphide exposures were mapped over a strike length of 300 metres. In 1987, no work was conducted and the option was dropped by BP Resources due to the low precious metal content of the massive sulphide zone. In 1988, the property was optioned by Fair Harbour Mining Corporation and they completed a 2.6 line kilometre induced polarization (IP) survey. They interpreted the sulphide-rich zone to extend at least 300 metres further to the southeast from upper Pyrite Creek. Drilling was recommended. In 1989, a six-hole BQ diamond drill program totalling 494 metres was carried out to test the source of the IP anomalies and the downdip continuity of the mineralization. Drilling intersected the zone over a 200 metre strike length and to a depth of 70 metres. The best drill intercept was 2.2 per cent copper, 1.2 per cent lead, 4.9 per cent zinc, 44.6 grams per tonne silver and 0.31 gram per tonne gold over 2.1 metres (Assessment Report 22912).

In 1991, Atna Resources Ltd. staked the Pitt Claims. Atna Resources and Fair Harbour Mining each acquired 50 per cent interest in the combined property. Inco Limited optioned the Pitt/Trinity claim group from Atna and Fair Harbour in December, 1991. In 1992, Inco Limited conducted airborne geophysics, geological mapping, sampling, prospecting and drilling on the Team zone; chip sampling across 1.2 metres gave 4.6 per cent copper, 1 per cent lead, 7.1 per cent zinc, 102.9 grams per tonne silver and 1.85 grams per tonne gold. The zone also contains up to 4 per cent barium (Northern Miner, August 24, 1992). Other zones along a 1700-metre strike include the Meadow Creek and the South Pyrite Creek.

In 2005, Candorado Operating Company Ltd. entered into an option agreement with Joseph Laurence, whereby Candorado can earn 100 per cent interest in the Pitt property. In 2005, Candorado Operating Company Ltd. conducted a sampling and geological program which confirmed the known copper-zinc-lead-gold-silver mineralized horizon that trends in a general north-south direction. The geologic setting and the nature of the mineralization indicate that the showings are Kuroko-style volcanogenic massive sulphides. The Upper Team showing was sampled over a width of 7.1 metres, of which a 4.4-metre-wide zone is the most significant, grading 2.33 per cent copper, 5.27 per cent zinc, 0.96 per cent lead, 0.53 gram per tonne gold and 66 grams per tonne silver. This showing is typical of the mineral showings on the Pitt property - a sheared pyrite-sphalerite-chalcopyrite-bornite-galena massive sulphide horizon. Another exposure of massive sulphides, four metres to the south and along strike, assayed 0.61 per cent copper, 2.72 per cent zinc, 0.66 per cent lead, 0.24 gram per tonne gold and 44 grams per tonne silver over a 1.8 metre width. The Team showing (about 55 metres south of and on strike to the Upper Team) was sampled over a width of 3.3 metres, of which a 2.8-metre-wide zone is the most significant, grading 2.89 per cent copper, 5.14 per cent zinc, 1.56 per cent lead, 0.42 gram per tonne gold and 97 grams per tonne silver. The Team showings are about 500 metres north of and along strike from the South Pyrite Creek showings (Press Release – Candorado Operating Company Ltd., June 1, 2005).