The history of this iron mining prospect may never be understood. The mine was likely in operation sometime during the early to mid 19th century and worked in conjunction with the nearby Dater Mine. Abraham Dater was an ironmaster who ran two forges nearby along the Ramapo River. The workings consisted of two adits, a stoped entrance, and other open cut workings.

Dater's Exploration seems exploratory in nature and was likely only worked for a brief period of time. Although the tailings contain rich magnetite ore, it is not known if any ore was ever shipped and where.