The Great Laxey is located south of Eholt Creek, 4 kilometres southwest of Eholt.
The large body of quartz, carrying copper, gold and silver was reported discovered on the Great Laxey in 1898. The Great Laxey (Lot 1425s) and adjacent Twin Mine (Lot 1426s) claims were Crown granted in 1912 to A. Hamilton.
The area is underlain by greenstone and marble of the Upper Paleozoic Knob Hill Group. These rocks are cut by granodiorites of the Jurassic-Cretaceous Wallace Creek Pluton.