The Silver Leaf showing is located on the south bank of the Illiance River, about 9.0 kilometres due east of Alice Arm. The area was explored for precious metals in 1924. The showing lies in a deep gulch where a steep trail from a cabin at 244 metres elevation leads to a tunnel at 366 metres elevation.

The region is underlain by an assemblage of volcanics and sediments comprising the Upper Triassic Stuhini Group, the Lower Jurassic Hazelton Group and the Middle Jurassic to Upper Cretaceous Bowser Lake Group. This assemblage has been folded into a north-northwest trending anticline (Mount McGuire anticline) and regionally metamorphosed to greenschist facies.

The showing is hosted in Bowser Lake Group banded argillite, striking 050 degrees and dipping 55 degrees east, crosscut by several dikes. The showing consists of a zone of brecciated argillite and quartz, up to 3.0 metres wide, which strikes 165 degrees and dips 55 degrees west. A later 15.0 centimetre wide quartz vein, located midway between the walls of the breccia zone, is mineralized with pyrite and tetrahedrite. A grab sample from this vein assayed trace gold and 120 grams per tonne silver (Minister of Mines Annual Report 1924, page 52).

In 1924, the Silver Leaf claims were staked and owned by J. Nick of Alice Arm. A tunnel had been driven on the vein about 6 metres with no apparent improvement.