The Clearwater Peak 53 occurrence is located near a small gully on the south western slope of Clearwater Peak, approximately 5.2 kilometres northwest of Star Lake.

The area is underlain by sedimentary rocks of the Triassic Nicola Group and basaltic volcanic rocks of the Devonian to Permian Fennell Formation (Slide Mountain Group).

Locally, chalcopyrite-bearing veins occur in a fine-grained andesite. Pillowed flows with epidote-rich interstices were mapped on the claim.

The CP claim block was prospected, mapped and soil sampled by Kerr, Dawson and Associates for Pan Ocean Oil Limited in 1972. In 2005, the area was prospected by M.A. Kaufman as the Clo and Jake claims. This resulted in the discovery of the nearby Clo (MINFILE 195) occurrence. In 2006, Rimfire Minerals Corp. optioned the claims and conducted a program of trenching, geochemical sampling and a VLF-EM magnetometer survey. In 2007, Rimfire was joined by Island Arc Exploration, who conducted limited IP surveys and excavator trenching across a few portions of IP anomalies. In 2008, the joint venture expanded the IP coverage with an additional 21 line-kilometres of survey. During 2009 through 2013, programs of rock and soil sampling, geophysical surveys and geological mapping were continued by M.A. Kaufman.