Banks Island is situated near the western margin of the Coast Plutonic Complex. The island is underlain by Tertiary to Cretaceous granitic rocks that vary in composition from gabbro to quartz mon- zonite. The granitic rocks host roof pendants of Permian (?) or older metasediments consisting of crystalline limestone/marble, pelites and skarn.

The Isla Mist property is underlain by granodiorite and quartz monzonite phases of the Coast Plutonic Complex. Locally, the biotite quartz monzonite or granodiorite is fine-grained, light colored and hosts abundant quartz veins infilling a strong fracture pattern. Many light-colored dykes, characterized by muscovite, quartz and white feldspars, cut the fine quartz monzonite unit.

Major fault directions on the property are 295 degrees and 045 to 050 degrees, with extensive fracturing controlling sheeted and stock- work veining.

Three mineralized areas are known to occur on the property and all are hosted by the fine quartz monzonite unit. The unit has associated silica-sericite alteration with stockwork and sheeted veining. Majority of the veins strike between 110 degrees and 140 degrees.

The Pete's vein mineralization consists of quartz stringers and veins which host minor chalcopyrite, pyrite, molybdenite and scheelite. The main zone vein averaged about 1.0 metres width. In 1987, a sample from this zone assayed 0.088 grams per tone gold, 40.5 grams per tonne silver, 0.71 per cent copper, 0.0134 per cent molyb- denum and 0.0096 per cent tungsten (Property File: Christopher, P.A., 1988).