It was the highest point on the island until the mid-1990s, when fluctuating volcanic domes during the 1995–1999 Soufrière Hills eruptions eclipsed the peak in height.

On 17 September 1965 a Boeing 707 aircraft operating as Pan Am Flight 292 flew into Chances Peak near the summit and was destroyed, killing the 30 people on board.

[2] In 1936, the British geologist Archie MacGregor carried out geological fieldwork across Montserrat, as a part of a Royal Society expedition in response to an ongoing seismic crisis.

[3] MacGregor noted that the peak of what he called Chance's Mountain formed the highest point on the island (3002 feet, at that time).

Following discussions with a local resident, Thomas Savage English, MacGregor's mapping confirmed that the region to the East of Chance's Peak summit was a breached volcanic crater.