The Skaret Creek placer deposit is located at the Skaret Creek- Corless Creek junction. Fairly coarse gold occurs in gravels immediately overlying bedrock and also in cracks and crevices of the bedrock. The bedrock consists of andesitic volcanics interbedded with argillite.

"Data from the Cariboo mining district indicate that supergene leaching of gold dispersed within massive sulphides by Tertiary deep weathering followed by Cenozoic erosion is the most likely explanation for the occurrence of coarse gold nuggets in Quaternary sediments" (Exploration in British Columbia 1989, page 147).