The property is on the slope north of Waste Creek about 4 kilometres west of Girard Point on the northeast coast of Louise Island.

The showings were discovered and staked in 1911 and subsequently optioned to the Western Steel Co., of Irondale, Washington. The property was owned in 1913 by H.K. Owen, of Seattle. Most of the early development work was done in 1918 by the owners, Messrs. Rogers, Benson, and Larson. An adit was driven for 23 metres and at a point 15 metres from the portal a crosscut was driven across a 4-metre wide dike. The 10 claim property, Lots 2331-2340, was Crown-granted in 1921. A small amount of additional work was reported in 1922.

By the late 1950's the property had been acquired by Campbell M. Robertson and associates, of New Westminster. Work began with an examination and magnetometer survey by Silver Standard Mines Limited in 1959. During 1961 exploration initiated by Campbell Robertson included a geological examination and an attempt to build a road to the property from the shore near Mathers Creek. In the autumn the property was optioned by Magnum Consolidated Mining Co. Ltd., who made a magnetometer survey of the property and a geological map of the vicinity. Two diamond drills were moved to the Iron Duke late in 1961, and in January and February 1962, 15 AX holes were drilled totalling 931 metres. Later in the year Silver Standard optioned the property and drilled 33 FX holes totalling 1465 metres. Most of the known magnetite and the magnetic anomaly are on Iron Duke No. 2 claim (Lot 2333), but both extend uphill onto the southwest corner of Iron Duke No. 1 (Lot 2332).

In the Iron Duke occurrence area, a thick grey limestone bed of the Upper Triassic Sadler Formation (Lower Jurassic to Upper Triassic Kunga Group) overlies chloritized basaltic (greenstone) rocks of the Upper Triassic Karmutsen Formation (Vancouver Group). The limestones strike north to northeast and dip gently west. The rocks are intruded by altered diorite to granodiorite and some diorite to dacite porphyries related to the Tertiary Kano Plutonic Suite. The limestones and greenstones are extensively skarned and replaced by magnetite and minor iron sulphides.

The magnetite ore occurs in a dislocated northeast trending zone along the limestone-greenstone contact. The ore zone and host rocks are cut by three steep post-ore faults trending about 120 degrees with 15 to 90 metre left-hand offsets. The ore zone is wedge-shaped with highly digitized margins. It strikes 045 degrees, dips 30 degrees north and measures 260 by 60 by 40 metres. Mineralization consists principally of magnetite and pyrite and rare chalcopyrite. Skarn minerals are disseminated and intercalated within the ore zone and also form an envelope around the ore zone. Combined (proven and probable) reserves are 495,276 tonnes of 46 per cent iron as magnetite; sulphur may average 2 per cent; an additional possible 32,655 tonnes may be present (Bulletin 54, page 182).