The Bullion Lode occurrence is located on the south side of the Quesnel River, near Rose Gulch.

The Bullion Lode property covers a large section of Upper Triassic alkali-olivine basalts and some Lower Jurassic volcanic feldspathic tuffs (Nicola Group equivalent). These rocks underlie the eastern side of the Central Quesnel Belt, near Likely, British Columbia. The rocks trend northwest and dip gently to the southwest. Intruded into the rocks are several small monzodioritic to syeno-dioritic plugs associated with a similar intrusion in the Bullion Pit (MINFILE 093A 025, immediately east of the prospect).

Locally, pyrite-chalcopyrite mineralization occurs around the margins of the plugs. The hydrothermal alteration varies from weak to intense propylitization.

In 1985, a grab sample (5A) assayed 3.1 gram per tonne gold, while a diamond drill hole (DDH 270-15), located above the mineralized zone intersected 1.8 grams per tonne gold near the toe of the hole (Assessment Report 16264). Further deepening of the whole did not return any significant results.

In 2011, five rock samples assayed from 0.153 to 0.584 gram per tonne gold (Assessment Report 33119).

During 1975 through 1978, Canadian American Loan and Investment Corporation covered the area with its Lock claims and carried out magnetic and electromagnetic surveys, soil sampling and geological mapping over the area. In 1982, Kenton Natural Resources completed a program of geochemical sampling on the area. In 1985, Dome Exploration optioned the Bullion Lode property and completed a program of soil sampling, ground geophysical surveys, geological mapping and 1403.8 metres of diamond drilling the following year. In 1998 and 1999, Big Valley Resources completed program of soil sampling and rotary drilling on the area as the Hug 2 claim. No assays were reported. During 2005 through 2007, Valley High Ventures completed programs geological mapping, rock sampling and 30 line-kilometres of ground magnetic and induced polarization surveys on the area as the October claims. During 2009 through 2014, Bearing Resources and Glengarry Developments completed programs of soil and rock sampling, geological mapping, 10 diamond drill holes, totalling 2087.7 metres, and ground induced polarization and magnetometer surveys on the area as the October Dome property.