Lasqueti Island is dominated by dark, grey-green amygdaloidal and agglomeratic basalt of the Upper Triassic Vancouver Group, Karmutsen Formation. Regional bedding strikes northwest and dips moderately northeast. The volcanic rocks are locally intruded in the False Bay area by a north-northeast trending stock of Early to Middle Jurassic Island Plutonic Suite quartz diorite. Narrow shear zones along the stock margins are common and locally contain minor quartz veining. Some hornfelsing of the basalt is also common along the quartz diorite contact but is not significant on a large scale.

Seams of massive sulphide mineralization in the area is often associated with the shear zones along the quartz diorite contact. These zones are narrow, less than 2 metres wide, strike from 010 to 040 degrees and are evident in basalt and quartz diorite.

The Venus occurrence area is underlain by basaltic rocks of the Karmutsen Formation in contact with Island Plutonic Suite quartz diorite. A highly chloritized shear zone up to 2 metres wide, striking 020 degrees and dipping vertically, occurs at the contact between basalt and quartz diorite and is continuous for at least 300 metres. The zone hosts seams or lenses of massive, fine-grained chalcopyrite and pyrite. The principal mineralization occurs as a shoot of massive chalcopyrite with minor pyrite, up to 1.2 metres wide, with associated magnetite and sphalerite. A rock sample taken from an adit assayed 6.2 per cent copper, 26.06 grams per tonne gold and 63.8 grams per tonne silver (Assessment Report 16086).

Past work consists of several adits, some underground development and extensive surface workings. Some surface workings are approximately 350 metres west from the adits and expose variably mineralized shear zones. Sporadic production from 1916 to 1959 totalled 362 tonnes of ore which yielded 30,004 kilograms of copper, 28,459 grams of silver and 5,319 grams of gold.