The Last Chance showing is located approximately 9.0 kilometres southwest of Alice Arm on a tributary of the southwest branch of Lime Creek.

The region is underlain by Eocene Coast Plutonic Complex intrusive rocks intruding Middle Jurassic to Upper Cretaceous Bowser Lake Group argillite, shale, siltstone, greywacke and conglomerate. These sediments have been folded and contact metamorphosed to biotite hornfels.

The showing consists of a northeast trending, 1.2 to 1.5 metre wide quartz vein developed in sheared argillite. The vein is mineralized with galena, sphalerite and pyrite. A selected grab sample from a 6.1 metre long tunnel assayed 48 grams per tonne gold, 480 grams per tonne silver and 20 per cent lead (Minister of Mines Annual Report 1916, page 68).

In 1916, the Last Chance claims were owned by G.R. Naden, Bowers and J. Wells. At 754 metres elevation, a tunnel has been run for 6 metres in a northeast direction on a 1.2 metre vein. A cut above the tunnel exposes a well defined 1.5-metre vein.