The Iron Chief showing is located on the Iron Chief Crown grant (granted in 1903). The claim is located on the southern slope of the Broughton Range, about 24 kilometres east of Ucluelet.

The area is underlain by diorite, foliated to gneissic diorite, amphibolite and minor metavolcanic and metasedimentary rocks of the Paleozoic to Mesozoic Westcoast Complex. Recrystallized limestone and minor skarn occur in the vicinity.

Magnetite occurs in outcrops spread out over 76 metres in a northeast direction, primarily in garnet rich metamorphic rock. A narrow vein of magnetite, with pyrite and pyrrhotite, is exposed in the creek at the northwest corner of the claim. The vein occurs near the contact of metamorphosed intrusives and limestone.

The workings on the claim consist of an old shallow shaft and some pits. An estimate of the inferred magnetite tonnage was 181,400 tonnes (Property File - Burton & Veerman, 1961). The results of a geochemical survey done in 1984 were disappointing (Assessment Report 12196).