The Goldboro property is entirely underlain by sedimentary rocks of the Goldenville Group, which consist of altered greywacke, sandstone (arenite) and slates. Four distinct mineralized bodies have been identified at Goldboro: the Main, Richardson, East Goldbrook and West Goldbrook.

The gold mineralization at Goldboro occurs in association in quartz veins. The gold distribution at Goldboro is subject to a ?nugget effect?, where gold often appears as large nuggets. This particular distribution of gold grains in the form of nuggets may explain the fact that regular assaying methods (e.g. fire assays) yield lower gold values than a metallurgical balance from mill-tests. (Please refer to the section on the Nugget Effect for more information in this regard.)

Many comparisons have been made between the gold deposits of the Victoria Goldfield Central Area in Australia and the Meguma deposits in Nova Scotia.