It was so named by the Southern Party of the New Zealand Geological Survey Antarctic Expedition (1963–64) because minerals of the Amphibole group were found on the peak.
Six minerals have been classified as "asbestos" including chrysotile of the serpentine class and those belonging to the amphibole class: amosite, crocidolite, tremolite, anthophyllite and actinolite.
Parts of the amphibole skarn and the iron ore are rish in Fluorite; this type of skarn is as much as a few feet thick and ranges from 20 to 60 percent fluorite.
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The mine has yielded several tens of thousands of tons of magnetite ore; associated with the magnetite ore are supergene hematite, vonsenite, Fluorite in dar mica skarn, pyroxeneamphibole skarn and quartz-bearing amphibole skarn.