The V. and G. (Ribbon) molybdenum occurrence is located 2 kilometres north of Rosebery, on the west side of Wilson Creek, east of Slocan Lake.

Molybdenite mineralization is present in quartz veins and stringers (Assessment Report 12064) cutting porphyritic biotite quartz monzonite of the Rosebery stock. One grab sample assayed 0.192 per cent molybdenum (sample 32, Assessment Report 12064). The highest assay in the four hole percussion drill program (Assessment Report 7188) was 0.115 per cent molybdenum across 3.05 metres in hole number 3. The Rosebery stock also contains diorite, aplite and an enigmatic intrusive breccia which carries pyrite and has been called "Ribbon Breccia" (Assessment Report 12064). The age of the Rosebery stock is not known (GSC Open File 432). The Rosebery stock intrudes quartzites and argillites of the Triassic Slocan Group. Other metallic mineralization on the property include a white quartz vein carrying galena and pyrite which assayed 70.1 grams per tonne silver and 0.26 per cent lead. At other localities assays of 1.01 per cent copper and 189 grams per tonne silver were reported (Assessment Report 12046), however, no other details were given.

The earliest recorded work was "development work" by "hand steel" presumably on silver-lead veins in 1942 (Minister of Mines Annual Report 1942). In 1970, the ground was staked by Peter Leontowicz and optioned to United Bata Resources Limited (later Pan Ocean Oil Limited), who in 1970 (Assessment Report 2944) undertook reconnaissance soil sampling (875 samples analysed for molybdenum and copper) and in 1971 (Assessment Report 3565) undertook linecutting, geological mapping, geochemical soil sampling (2165 samples analysed for molybdenum), magnetometer (32 kilometres) and induced polarization surveys (24.8 kilometres). In 1978, an 850-metre drill access road was prepared and four 91.4-metre deep percussion holes drilled (Assessment Report 7188). In 1980, geological mapping and prospecting were undertaken along a new logging road (Assessment Report 12064). In 1982, three bulldozer trenches were cut (Assessment Report 12064). In 1983, a program of soil geochemical sampling, lithogeochemical sampling and geological mapping were completed (Assessment Report 12064).