The McLeod River placer deposit is underlain by rocks of the Mississippian Slide Mountain Group in fault contact with the older Wolverine Complex to the west. Placer gold deposits of the McLeod River have been worked from gravels along the river. Platinum is also present in these deposits. Mountain Boy Minerals Ltd. has conducted tests that yielded values of platinum, palladium and gold values in streams that drain the area.

Gold in the McLeod River deposits is reported to occur within shallow gravels and in cracks and crevices of the underlying bedrock.