First worked for lead ore by the W. B. Lead Co. Carricks was later much more successful as an iron mine.
The original level was Groveheads Level driven from about 1760 but Craigs Level was started in 1863 and this became the main working level for subsequent mining.
The Weardale Iron Co took over the mine in 1880 and worked it up until shortly after the end of WW1. The iron ore produced was of the Bilbao type, limonitic in shallower workings but unaltered carbonate ore at greater depth. Craigs Level extended for 2.05 kilometres and gave access to several different veins some with associated flats in the Great Limestone.
In 1940-41 the mine was reopened by the Ministry of Supply and it produced 1000 tons of ore weekly until closure in 1942.
Boulder clay formed the roof of the working in parts of the mine which made working difficult and the mine is no longer accessible. Ore was transported from the mine down to the valley bottom via a self acting incline and the arch still supporting a cable drum can still be seen on Ireshope Plains.