The Black Panther mine, originally discovered in 1936, is located approximately 20 kilomtres southeast of Port Alberni.

In the area, a north striking fault separates andesites of the Devonian Duck Lake Formation (Sicker Group) from Early to Middle Jurassic Island Plutonic Suite diorite.

Quartz veins, lenses, stockworks and stringers containing variable amounts of sulphides, mainly pyrite, chalcopyrite, minor galena and sphalerite, occur in a shear zone which sub-parallels the andesite/diorite contact. The wallrock is strongly altered by ankeritic carbonate for widths of several centimetres to 9 metres. The main shear zone, which has been traced for at least 3.2 kilometres, is locally cut by quartz stringers. The stringers are 2.5 centimetres to 0.9 metre wide and up to 12 metres long. A subordinate shear set, trending 20 to 30 degrees, is also present. Ore grades are highest where these two shear sets intersect.

Reserves have been estimated at 12,250 tonnes grading 6.86 grams per tonne gold (Assessment Report 9639). The Black Lion showing (092F 085), about 1/2 kilomentre to the southeast, is considered to be an extension of the main shear zone.

In 1987, sampling of the workings by Candorado Mines Limited averaged 18.5 grams per tonne over vein material from 1.7 to 2.1 metres wide (George Cross Newsletter #34, 1987). Production in 1947, 1948 and 1950 totalled 1715 tonnes which yielded 15,832 grams gold, 29,642 grams silver, 226 kilograms copper and 5588 kilograms lead.

In 2005, Plateau Resources acquired the property and prospected the area the following year as BP claims.