The deposit is in
Paleoproterozoic to
Mesoproterozoic (2500–1000 mya)
metamorphosed sedimentary rocks, known as the "Soldier's Cap Group", and is overlain by approximately of
Cretaceous and more recent
overburden. The deposit was discovered as result of an
aeromagnetic survey of the Soldiers Cap Group in the eastern Mount Isa inlier. The area was selected for survey based upon extrapolations from known prospects and associated
lithostratigraphy. In other words, the rocks were the same as other known prospects, only slightly more deeply buried. The aeromagnetic survey pinpointed Cannington as a potential site and subsequent drilling proved it out. The theory of formation of the Cannington deposit, and the related deposits at
McArthur River,
Century,
Mount Isa,
Hilton, and
George Fisher, is explored in a 2005 paper by Large,
et al. The major ore minerals are
galena and
sphalerite. The silver occurs mainly as
freibergite but is also present in solid solution within the galena. ==Management==