The Lazy occurrence is located on Cotter Creek, approximately kilometres east of the creek mouth at about 60 metres elevation.

The oldest rocks in the area are mapped as part of the Middle to Upper Paleozoic Sicker Group. The Sicker Group, however, is under-going redefinition in the Cowichan and Buttle Lake uplifts, with a new Upper Paleozoic Buttle Lake Group being created from what were mainly sediments from the upper part of the Sicker Group. See the H-W occurrence (092F 330) for a summary of revisions.

These rocks are bounded on the west by Herbert Inlet while on the north, south and east they are overlain by mafic to intermediate volcanics of the Upper Triassic Karmutsen Formation, Vancouver Group. These volcanics are cut by andesitic dykes ranging from 0.1 to 10 metres in width. A small area of diorite belonging to the Early to Middle Jurassic Island Intrusions is exposed along the east side of Herbert Inlet.

The showing consists of north-south trending quartz-carbonate-pyrite veins occurring in shear zones that cut quartz-feldspar dykes and minor mafic to intermediate volcanics. Intense quartz-carbonate alteration exists in the wallrock for up to 1 metre from the veins. The zone of veining has been traced for 50 metres. In 1988, a sample (19191) of vein material, as exposed in trench A, assayed 2.21 grams per tonne gold (Assessment Report 17728).

In 1984, Consort Energy completed a program of prospecting and silt and soil sampling on the area as the Lazeo-Klein claims. This work identified a high order stream sediment gold anomaly in the area, with results up to 540 parts per billion gold (Assessment Report 12791). In 1985, a program of rock, silt and soil sampling was completed. Silt and soil samples identified anomalous values of gold in creeks to the south west between Cotter Creek and Gibson Cove. In 1987 and 1988, programs of geological mapping and rock, silt and soil sampling, trenching and geophysical surveys were completed.