The FOB occurrence is located at 740 metres elevation near the east bank of the Ashnola River (Assessment Report 6173). Keremeos, British Columbia, lies 13 kilometres to the east-northeast.

The oldest rock units in the area are the Carboniferous to Triassic Old Tom and Shoemaker formations. These consist of chert, argillite, mafic volcanic flows and minor limestone beds. The Old Tom and Shoemaker formations have been intruded by the Middle Jurassic Similkameen Batholith. The composition varies from hornblende diorite to quartz diorite. Intrusive dike swarms have accompanied the Similkameen intrusion. Pervasive regional metamorphism is of upper greenschist to lower amphibolite facies. Superimposed on top of this is a later thermal contact metamorphism.

Locally, andesitic tuff, greenstone, grey feldspar porphyry dikes and granodiorite host disseminated pyrite, molybdenite and minor chalcopyrite mineralization in small quartz veinlets and fractures. The main mineralized zone is exposed in a cliff face over an area approximately 110 metres wide and 15 to 18 metres high.

In 1976, the best molybdenite values from drilling were from holes KV #1 and KV #3. Drillhole KV #1 yielded 0.10 per cent molybdenite (0.06 per cent molybdenum) over the 10-metre interval between 480 and 490 metres (Sample 10468; Assessment Report 6173). Drillhole KV #3 yielded 0.21 per cent molybdenite (0.12 per cent molybdenum) over the 10-metre interval between 20 and 30 metres and 0.19 per cent molybdenite (0.11 per cent molybdenum) over the 10-metre interval between 240 and 250 metres (sample 830 and 867; Assessment Report 6173).

Chip sampling of the main zone yielded up to 0.03 per cent copper and 0.22 per cent molybdenite over 21 metres with a weighted average of 0.034 per cent copper and 0.092 per cent molybdenite with approximately 0.3 gram per tonne gold, 3.4 grams per tonne silver over 63 metres (Property File - Consolidated Kalco Valley Mines Ltd. [1976-09-07]: Geological Report on Fob 1-6, Rad and Vac Claims).

The area was staked and explored in 1976 and 1977 by Consolidated Kalco Valley Mines Ltd. Exploration initially consisted of geological mapping, geochemical soil surveys, trenching and magnetometer, electromagnetic and self-potential geophysical surveys. This was followed up by three surface diamond-drill holes, totalling 322 metres, on the FOB 2 claim.