The Cayote mine consists of over 570 metres of underground workings which tested northeast trending quartz veins within Lower Cambrian Reno Formation quartzites and Lower Cambrian Laib Formation argillites and calcareous sediments. The Laib Formation is correlative with the Lardeau Group and the Reno Formation with the Hamill Group.
The adit exposes one of the five major north trending normal faults known in the Sheep Creek camp. Some gold and silver values are reported from the Cayote but production is included with the Reno mine (082FSW036). It is difficult to identify grades and tonnages originating from the Cayote adit although it is apparent that results of the development were economically unsatisfactory.
In 1984, Goldrich Resources Inc. completed a program of soil sampling and ground magnetometer and VLF-EM surveys on the area.
In 1987, Lightning Minerals Inc. drilled four holes on the occurrence. The highest assay result achieved was 2.78 grams per tonne gold over a 0.30 metre interval (Assessment Report 16833).
During 2008 through 2016, Yellowstone Resources Ltd. examined the area as the Sheep Creek property. In late 2016, Margaux Resources Ltd. optioned the property and in 2017 examined the area.
Refer to the Reno mine for a summary of the Sheep Creek mining camp.