The Iron Dollar (Lot 7059), on Lexington Mountain, on the north side of the East fork of Mohawk Creek, is northwest of the Beatrice mine (082KNW040). See also Silver Dollar (082KNW101) and Gillman (082KNW127).

The area is underlain by metasedimentary rocks of the Lower Paleozoic Lardeau Group, which includes medium grey to greenish quartzites, greywackes, carbonaceous phyllites and quartz sericite schist.

A northwest striking, east dipping quartz vein cuts the metasediments. It is 3.6 metres wide and contains galena, pyrite, and chalcopyrite. A 50-metre adit on the property is likely part of the Silver Dollar (082KNW101).