The IRON CAP showing is located approximately 2 kilometres northeast of Mount Franklin.

The showing consists of magnetite and pyrite in metasedimentary rocks of the Devonian-Triassic Harper Ranch Group. The mineralization occurs near a contact with syenite of the Eocene Coryell Intrusions.

The IRON CAP was Crown granted in 1909 to M.M. Kerman, and in 1914 it was owned by G.A. McLeod.