The Ace showing is found near the headwaters of Gray (Grey) Creek, south of Mount Bagshaw.

The area is underlain by a persistent band, greater than 12 kilometres long, of stratified metavolcanic and metasedimentary rocks of the Upper Triassic Quatsino and Karmutsen formations (Vancouver Group). The band trends north- west and separates Jurassic to Cretaceous Coast Plutonic Complex rock of two different compositions, diorite and granodiorite.

Locally, molybdenite, chalcopyrite, pyrite and some galena and sphalerite are found disseminated on fracture plane surfaces and in small quartz veinlets within the granodiorite. Potassic and epidote alteration is associated with the mineralization.

Assays are erratic, with extreme highs and lows throughout the area. Values range to greater than 10 grams per tonne silver, 0.0025 to 0.025 per cent copper, 0.0009 to 0.037 per cent zinc, 0.0005 to 0.0045 per cent molybdenite, and 0.0004 to 0.039 per cent lead (Assessment Reports 5173 and 12224).

In 1974, a program of geological mapping and soil sampling was completed on the area as the Ace claims. In 1983, Bute Joint Venture completed a program of rock and soil sampling, geological mapping and ground magnetic and electromagnetic surveys on the area as the Koop and Strider claim groups. The area was prospected as the Cordero property in 1991 and 1992 by Ripple Creek Resources. During 1997 through 2000, Thurlow Resources conducted exploration programs on the area, renamed the DM and Picton properties, on the HY, LO, and FILL 2-19 claims. The programs consisted of soil sampling, rock sampling, and geological mapping. In 2008, Cuda Capital completed a 561.4 line-kilometre airborne magnetic survey on the area.