The Pit occurrence is located near Cracker Creek, about 2.4 kilometres above its mouth on the west side of the north end of Surprise Lake, approximately 31 kilometres northeast of the community of Atlin.

The area is underlain by alaskite of the Late Cretaceous Surprise Lake batholith (Surprise Lake Plutonic Suite) and Upper Mississippian to Permian Cache Creek Complex ultramafic rocks. The alaskite is moderately to highly silicified and locally very limonitic.

A 1.5 metre quartz vein containing malachite and azurite occurs at the alaskite-ultramafic contact. Chalcopyrite was found in locally derived alaskite float (Assessment Report 2725).

In 1969, the Pit and Pal claims were staked by owner P. Lucier and during 1970 prospecting, sampling and the excavation and blasting of several small pits was completed.

In 2017, Global Drilling Solutions on behalf of Zinex Mining Corporation conducted extensive geochemical sampling on the Ruby Creek property, as well as drilling and ground geophysics. Results from rock samples in proximity to the occurrence (less than 1 kilometre) were not significant (Assessment Report 37171). In 2018, Global carried out further geochemical sampling on the property.

In 2021, an airborne SkyTEM survey was conducted BY Stuhini Exploration on the Ruby Creek property, which revealed a number of regional trends across the property.