This property is located at the 1219-metre elevation between Falls and Garrity creeks, about 14.4 kilometres west of Nelson. The Iron King group is north of and adjoining this property.

The Monarch claim (Lot 2082) was Crown-granted to M.C. Monaghan, and the Elk claim was Crown-granted to Alex McDonald, in 1904. Early exploration work consisted of open cuts and a 9-metre shaft.

During 1917-18 the Spokane Mining & Development Corporation carried out exploration work on the property under the management of C.M. Mohr. At about this time the property was acquired by the Sterling Trust Corporation of Toronto, for which Mr. Mohr was agent. The Falls Creek Mining Company reportedly worked the property in 1919; further work was reported done in 1922 under the directions of Mr. Mohr. Development work during this period consisted of a tunnel driven 30 metres at a vertical depth of 76 metres below the surface exposure. A mechanics lien was filed against the Monarch and Elk claims in 1924. The defendants specified were the Spokane Mining & Development Company, the Sterling Trust and Middle States Holding Company.

The Sterling Trust Corporation held the property until it was allowed to go on tax sale in 1927; the claims were purchased by M.C. Monaghan.

Queen Victoria Consolidated Mines Limited, reportedly formed to develop the Queen Victoria property located about 1.6 kilometres to the east, is reported to have held the Monarch and Elk claims in 1928, however no work was reported at this time.

The Monarch prospect is located 10 kilometres west-northwest of Nelson. The claim was Crown Granted in 1904 and several shafts and adits were developed at about that time. The property was held by Great West Mining Corporation Ltd. in 1962. Gerhardi Holdings Limited prospected the property in 1980.

The area is underlain by argillites, quartzite and limestone of the Lower Jurassic Ymir Group and mafic to intermediate volcanic rocks of the Lower Jurassic Elise Formation, Rossland Group. These are intruded by granodiorite and quartz diorite of the Middle to Late Jurassic Nelson Intrusions and Jurassic pseudodiorite and pyroxenite of unknown affinity.

Skarn zones are developed in Ymir Group sediments and Elise Formation volcanics near the contact with granodiorite of the Nelson batholith. Chalcopyrite and pyrite occur in a garnet-epidote skarn. Some molybdenite is associated with epidote in fractures. Traces of galena and sphalerite were noted in exposures immediately north of the main showing. The garnet zone, occurring along the northeast striking granitic contact, is mineralized with chalcopyrite, pyrrhotite and pyrite disseminated in irregular patches. Near one of the basic dykes that intrudes the garnet zone a narrow band of magnetite has been exposed.

In 1918, a 153 tonne sample assayed 3 per cent copper, 201.6 grams per tonne silver and 3.428 grams per tonne gold (Minister of Mines Annual Report 1918, pages 173, 174, 197). In 1980, a grab sample from the main showing assayed 1.02 grams gold, 106.3 grams silver and 7.89 per cent copper (Assessment Report 8661).

Although little geological data is available it is believed that the mineralization at Monarch is similar geologically to the Queen Victoria mine (082FSW082) to the east.