In 1960 a vast concentration of zinc and lead was discovered on the island during mapping for oil permits.

Cominco acquired land in the area and a gravity survey in 1970 detected a large anomaly.

By 1973 surface drilling and underground development had outlined the Polaris ore body and defined reserves of about 25 million tons grading approximately 14% zinc and 4% lead.

A mining facility was constructed on a barge at Trois-Rivières, Quebec and towed to the island; arriving in mid August 1981.

The mine was closed in August 2002 as forecast due to depletion of the ore body.