The Granby Point and Reserve Quartz (103P 252) mines are located on the northern end of Granby Peninsula on Observatory Inlet, approximately 1.5 kilometres east of Anyox. Gold and silver-bearing quartz veins were mined periodically between 1915 and 1935 as a source of silica flux. Two underground mines were developed, the Reserve Quartz mine at Granby Point on the northern tip of Granby Peninsula and the more extensive Granby Point Quartz mine 500 metres southeast of the Reserve Quartz mine along the eastern shore of the Granby Peninsula.

The Anyox region is underlain by a roof pendant, consisting of volcanic and sedimentary rocks, within the Eocene Coast Plutonic Complex. These rocks have been correlated with the Middle-Upper Jurassic Hazelton Group and the Middle Jurassic Bowser Lake Group (Evenchick and McNicol, 2002). The volcanics consist of variably chloritized pillow and massive basalt with minor mafic tuffs. The overlying sediments consist of argillite, siltstone and sandstone with minor chert and limestone. There are two observable phases of folding in the area, an initial north-northeast trending phase followed by a later east-northeast trending phase.

The Granby Point and Reserve Quartz mines are developed in the same vein system. Quartz veins ranging from a few centimetres to 4 metres thick are developed along bedding planes in argillite. The argillite and quartz veins dip gently to the southeast with dips averaging 20 degrees and never exceeding 40 degrees. Numerous quartz stringers extend for up to 10 metres into the hangingwall of the veins.

Mineralization consists of pyrite, sphalerite and galena with traces of chalcopyrite and pyrrhotite. The mineralization occurs as disseminations and blebs scattered erratically through the quartz veins and more commonly along the margins. Gold is associated with pyrite and chalcopyrite and silver is associated with sphalerite.

The Granby Point mine contains a small unexploited mass of moderately sulphide-rich, potentially high grade vein material in the southwestern part of the mine area. The mine area is mainly dry and stable. The probable extension of the vein is the Quarry vein system, 50 to 150 metres south of the mine portal.

The Reserve Quartz vein is hosted by black argillite and siltstone. It is estimated that 20 to 25 per cent of the vein system remains largely in the form of pillars. The ground at the mine is unstable and underground examination difficult. A sample taken across 0.75 metre assayed 699.3 grams per tonne silver and 4.97 grams per tonne gold (Property File - Fox, 1988). The probable extension of this vein, Jean's vein, was located 200 metres south of the mine portal. Surface grab samples assayed up to 1.16 grams per tonne gold and 6.4 grams per tonne silver (Property File - Fox, 1988).

The mines periodically supplied the copper smelter at Anyox with silica flux. Between 1915 and 1938, 121,245 tonnes (production records for 1918 include some production from the Macy mine (103P 112), with an average grade of 2.33 grams per tonne gold and 85.7 grams per tonne silver, were mined (Property File - Burton, 1987). Mineral Policy records state that 79 kilograms of copper and 429 kilograms of lead were produced from 1936 to 1938. The adits of the Reserve Quartz mine can only be entered at low tide.

A drillhole intersection across 3.0 metres in the area of the Granby Point and Reserve veins assayed 2.7 grams per tonne gold and 200.2 grams per tonne silver (Property File - Fox, 1988).

In 2005, Garibaldi Granite Corp. entered into an option agreement with 0715622 B.C. Ltd. of Vancouver, whereby B.C. Ltd. grants Garibaldi the right to earn a 50 per cent interest, subject to a 1.5 per cent royalty, in the Granby Point claim.