The Pequod 6 showing occurs in porphyritic feldspar biotite granodiorite of the Cretaceous Battle Range Batholith. Noranda Explorations Co. Ltd. and Amax Potash Limited first discovered molybdenite on their Mad claims in 1978. The joint venture restaked the Mad claims as the Pequod claims in 1979 and Noranda drilled one hole on the nearby Pequod 1 showing (082KNW167).

A zone of quartz-pyrite-molybdenite veining was discovered during 1979. The south vein zone, found on the scoured rock face immediately below Moby Dick Glacier, is exposed over a distance of approximately 1800 metres. Veins vary in width from 1 to 20 centimetres, striking 125 to 135 degrees and dipping 20 to 25 degrees northeast. The main part of the mineralized veins are comprised of smokey grey quartz with feldspar, pyrite, molybdenite and minor tourmaline, occurring along vein borders. The molybdenite occurs as fine disseminations, rosettes and irregular masses.