The geological structure of a large volcanic edifice in the eastern flank of the large Charlie Gibbs Fracture Zone in the region of the Eastern Thule submarine rise (North Atlantic) is discussed. It is shown that the volcanic edifice was formed near the axial zone of the Mid-Atlantic Ridge in the interval of 6467яMa ago. Subsequently, its summit part was destroyed by wave abrasion, and then it sank along with the oceanic part of the plate to 2500 m deep. It was concluded that volcanism in the Rockall Rift Basin affected the region further to the south, which was already an oceanic basin and was separated from the rift basin with the Charlie Gibbs Fracture Zone.