The Deep Gulch prospect is situated 100 metres south of Deep Gulch Creek, just east of Highway 3 and 16.5 kilometres south of Princeton.

The area is underlain by the eastern facies of the Upper Triassic Nicola Group, consisting of mafic augite and hornblende porphyritic pyroclastics and flows. These rocks are intruded by diorite and monzonite, locally pyroxenite and gabbro, of the Early Jurassic Copper Mountain and Lost Horse intrusions. The deposit lies just east of the Boundary fault, which separates Nicola Group volcanics to the west from the Copper Mountain stock (Copper Mountain Intrusions) to the east, in the vicinity of Deep Gulch Creek.

Syenogabbro, syenodiorite and monzonite of the Copper Mountain stock underlie an area 760 metres long and 120 to 360 metres wide that has been exposed by extensive trenching. These rocks are intruded by veins, streaks and patches of pink orthoclase-rich pegmatite. A number of faults are also present. Most of the pegmatite veins and some of the faults strike northeast with steep dips.

The best mineralization is exposed in the southern part of the trenched area and consists of bornite and some chalcopyrite, as lenses, veinlets and disseminations, in pegmatite. Partial oxidation has produced malachite and limonite. Pyrite occurs locally in minor amounts. Numerous sections of low-grade mineralization occur in the trenches over widths of 1 to 20 metres. Fourteen holes drilled in this area encountered short sections of mineralization up to 3 metres in width. A 3-metre chip sample taken across pegmatite veins with bornite lenses assayed 5 per cent copper, and a second chip sample taken along a trench face over 15 metres assayed 0.75 per cent copper (Property File - Deep Gulch Mines Ltd., 1959). A 230-kilogram bulk sample assayed 0.79 per cent copper and 1.4 grams per tonne gold (Property File - R. Collishaw, 1959, page 4).

Mineralization is also present to the northwest, where the Boundary fault separates syenogabbro and syenodiorite from sheared and sericitized tuffs of the Nicola Group. The syenogabbro and syenodiorite contain some pegmatite veins with bornite, while the tuffs exhibit traces of malachite and pyrite.

This prospect was discovered by J.W. Gallagher in 1952. Deep Gulch Mines Ltd. completed geological and geophysical surveys, 2400 metres of trenching and 133 metres of diamond drilling in 1 hole in 1958 and 1959. Copper Mountain Mines Ltd. (formerly Deep Gulch Mines) conducted geophysical surveys and 790 metres of diamond drilling in 15 holes in 1960 and 1961. During 2007 through 2009, Canadian international Minerals Inc. examined the area as the Copper Mountain property. Exploration work included programs of limited prospecting and sampling and an airborne magnetometer and electromagnetic survey.