Gold was first discovered in the Peak Hill area in 1889, and from 1904 to 1917 the richest parts of the ore body were mined via underground methods to produce around 60, 000 oz of gold. Most of the rock in the pit wall has oxidized; weathering processes over millions of years have changed the original minerals to minerals stable in the presence of air and water. For example: fresh pyrite (fool's gold) has been changed to iron oxides and sulphuric acid. The reds, browns and yellows in the pit walls indicate the presence of iron oxides. The blue green patches are unweathered and still contain pyrite. The open cut, on the fringes of Peak Hill township, has been set up by the former mine corporation Alkane Resources as a tourist attraction.