The Lucky Strike showing is located 1.0 kilometre northwest of the West Kitsault River, 30 kilometres north-northwest of Alice Arm.

The showing consists of quartz-carbonate breccia vein, up to 6 metres wide, in plagioclase-hornblende porphyritic andesite. This Lower Jurassic Hazelton Group andesite unit is informally known as the "Copper Belt". The porphyry is thought to be the intrusive equivalent of the felsic Mount Dilworth Formation (Hazelton Group).

The vein strikes northwest, dips steeply and is mineralized with abundant sphalerite and minor pyrite, chalcopyrite, tetrahedrite and galena. A 0.69 metre chip sample assayed 0.69 gram per tonne gold, 295 grams per tonne silver, 0.7 per cent copper, 0.8 per cent lead and 6.6 per cent zinc (Minister of Mines Annual Report 1951, page 88).

Previously documented occurrences: Camp zone, Cascade Falls (103P 211), Lucky Strike or Rambler (103P 077), Silver Crown (103P 082), Lucky Strike North (103P 074) and Iron Kitsault (103P 165) zones are referred to as being part of the Dilly and Dilly West zones of Teck Corp. Teck has not indicated the exact location of the Dilly and Dilly West zones or which documented occurrences belong in which zone.

The Dilly West zone has been traced on surface for 600 metres in strike length to 2001. It consists of well laminated silicified mudstones and siltstones directly below the debris flow unit. Showings include massive sulphides stratabound within silicified mudstones, massive arsenopyrite lenses, also stratabound, and sedimentary diatremes feeding into this stratigraphy.

The Dilly zone to 2001 has a longer indicated strike length of 1.5 kilometres and also remains open in both directions. A diverse range of mineralization occurs along a discrete horizon which is stratigraphically located 50-100 metres below the Dilly West zone. Hostrocks are again silicified mudstones and siltstones. Styles of mineralization include massive sulphide base metal showings, semimassive to massive arsenopyrite showings, massive, laminated galena-sphalerite showings and sulphide stockworks within felsic volcanic pyroclastics. At the northern end of the zone, silicification decreases in the sediments and the showings become base metals associated with massive to semimassive barite.

In 2003, Bravo Venture Group Inc. acquired the Homestake Ridge property and focused its drill program primarily on structurally controlled gold mineralization (Homestake, 103P 216) in the Goldslide pluton rather than exploring for a precious metal enriched volcanogenic massive sulphide (VMS) deposit as Teck Cominco Ltd. had. Six holes tested a zone of quartz-pyrite stockwork veining and breccia at the contact of the feldspar-hornblende porphyry stock. Bravo drilled five additional holes to test four other targets: the rhyolite/argillite contact formerly explored by Teck Cominco, the Silver Crown zone (103P 082), and the Fox-Gold Reef zone (103P 093, 213), and the Dilly vein. No significant assays resulted.

During the 2004 field season, Bravo focused on delineating the strike potential of the main Homestake shear. Ten line-kilometres of cut grid were established over the main and adjacent structures. Soil sampling and ground magnetic geophysics were conducted over the grid. Several zones of interest were identified mapped and sampled. In 2005, Bravo returned to the Homestake Ridge gold prospect (103P 216) to complete 1643 metres of drilling in 11 holes, intersecting significant gold-silver values.

During 2017 through 2019, Auryn Resources Inc. completed programs of geological mapping, geochemical (rock and soil) sampling, airborne and ground geophysical surveys and re-logging of historical drill cores.

Please refer to Homestake (103P 216) for further details of the larger property and area.