The Fred occurrence is located 1.5 kilometres south of Meslilloet Creek and 1.8 kilometres east of the Indian River confluence.
The area is underlain by plagioclase porphyritic, andesitic to dacitic flows of the Upper Jurassic to Lower Cretaceous Gambier Group, which occur at the south end of the Indian River roof pendant. These are underlain and intruded by granodioritic to quartz dioritic intrusive rocks of the Middle Cretaceous to Late Jurassic Coast Plutonic Complex.
Locally, a sparsely mineralized porphyritic volcanic is exposed in several road cuts, near its contact with a chert. Mineralization consists of disseminated pyrite forming up to 10 per cent of the host rock with minor to trace amounts of disseminated chalcopyrite, galena and sphalerite associated with quartz veining and epidote.
In 1985, a grab sample (55623) assayed 0.34 per cent copper, 0.4 per cent lead, 1 per cent zinc and 7.1 grams per tonne silver (Assessment Report 14036).
In 1982, Abilene Oil & Gas completed an airborne geophysical survey on the area as the Fred 1-5 claims and immediately to the south east, as the Shear 1-2 claims. Also in 1982 and 1983, Pan Alaska completed programs of airborne geophysical surveys and geological mapping on the area as the Penny and Perry claims. During 1983 through 1985, New Alaster Energy completed programs of rock and soil sampling and geological mapping on the area.