The Pip occurrence is located on a branch of the Blue River, south of Captain Lake, approximately 20 kilometres south of the Yukon-British Columbia border and 146 kilometres north of the community of Dease Lake.

The Pip (Captain Lake) showing consists of anastomosing quartz veins in silicified carbonate breccias with locally abundant copper mineralization. It lies adjacent to a highly brecciated fault zone between Lower Cambrian Rosella Formation (Atan Group) carbonates and Cambrian-Ordovician Kechika Group calcareous shale.

The Pip is a silicified zone with locally intense stockwork with chalcopyite-chalcocite-pyrite occurring along a highly brecciated fault contact between Kechika Group calcareous shale and Atan Group carbonate. The zone is up to 40 metres wide and exposed along 125 metres. Best assays reported are 1.36 per cent copper over 25 metres (Assessment Report 6087). An old trench exposes similar mineralization 600 metres on strike to the northwest.

In 1976, Craigmont Mines Limited chip sampled five trenches and assayed for copper, gold, zinc and silver. One sample result was 1.36 per cent copper over 25 metres; other assays were in trace amounts only (Assessment Report 6087).

Mineralization was probably discovered in the 1920s by prospecting and hand pits. In 1968, the showing was acquired by Rackla River Mines who bulldozed a small grid and several trenches in 1969. No records of other work could be found. The claims lapsed, were staked by Exaton Resources in 1975, and optioned by Craigmont Mines Limited in 1976. In 1976, Craigmont Mines conducted soil sampling, a VLF-EM survey and chip sampling of the exposed chalcopyrite mineralization in trenches (Assessment Report 6087) which was followed by exploration by Donegal Resources Ltd. in 1979 with diamond drilling of the trench area, but they only obtained very limited core through the highly faulted mineralization (Assessment Report 8627). The area of the Pip property has been restaked since, possibly several times, with no work being recorded.

In 2018, on behalf of Jedway Enterprises Ltd., a geophysical and geological program of interpretation was completed using Google Earth photos and BC TRIM maps coupled with analysis and interpretation of the ground VLF-EM map from assessment report 6087 (ca. 1976) and diamond drill logs from assessment report 8627 (ca. 1979).