The area of the Nik occurrence is underlain by sedimentary rock of the Upper Jurassic Kent Formation, which consists of sandstone, conglomerate and argillite. These are underlain to the west by rocks of the Lower and Middle Jurassic Harrison Lake Formation which consists mainly of intermediate volcanics. A stock of Miocene granodiorite contacts the Kent Formation rocks to the east of Mount Agassiz.

In 1969, Blackjack Explorations conducted a magnetometer survey consisting of 4.8 kilometres, as well as a biogeochemical survey covering all of the Nik 1 to 24 claim group. In the same year, approximately 241 metres of diamond drilling in two holes were done. Nickel and copper were reported but the character of the mineralization, if any, was not indicated.