The IXL Fraction occurrence lies in the Zeballos gold camp along a small creek gully, northeast of Goldvalley Creek and approximately 2.9 kilometres south-southeast of the creek’s junction with the Zeballos River.

Regionally, the area is underlain by Upper Triassic to Lower Jurassic Bonanza Group basaltic to rhyolitic volcanic rocks. Conformably underlying the Bonanza volcanic rocks are limestones and limy clastics of the Triassic to Lower Jurassic Parson Bay Formation (Bonanza and Vancouver groups) and Upper Triassic Quatsino Formation (Vancouver Group), and tholeiitic basalts of the Upper Triassic Karmutsen Formation (Vancouver Group). Dioritic to granodioritic plutons of the Zeballos intrusion phase of the Jurassic Island Plutonic Suite have intruded all older rocks. The Zeballos stock, a quartz diorite phase of the Eocene to Oligocene Mount Washington Plutonic Suite, is spatially related to gold-quartz veining in the area. Bedded rocks are predominantly northwest striking, southwest dipping, and anticlinally folded about a northwest axis.

Locally, a 30-centimetre wide fault gouge and/or fracture zone striking 050 degrees is hosted by quartz diorite of the Eocene to Oligocene Zeballos stock. The structure, thought to be onstrike with the Goldfields (MINFILE 092L 211) vein located approximately 0.8 kilometres to the southwest, cuts across two sets of joints, striking 250 degrees and 330 degrees, respectively, and has been traced along strike for at least 60 metres. Mineralization consists of primarily pyrite with minor arsenopyrite and sphalerite. An andesitic dike is associated with and follows the fracture zone.

In 1937, a chip sample assayed 82.4 grams per tonne gold (Property File - W.H. Patmore [1937-09-19]: Report on "L.M." and "P.M." Mineral Claims).

The area has been explored in conjunction with the nearby Goldfields (MINFILE 092L 211) occurrence since the 1930s, with an adit driven in 1938.