The Fanny 1 occurrence is located near the creek mouth of Fanny Creek, north of Cape Fanny on Moresby Island.

The area is underlain by massive lava flows, pillow lavas and breccias of the Upper Triassic Karmutsen Formation (Vancouver Group) in fault contact with massive grey limestones, flaggy black limestone and argillite of the Sadler, Peril and Sandilands formations, respectively, all of the Jurassic to Triassic Kunga Group. These rocks are intruded by acid to intermediate dikes and diorite- quartz diorite plugs related to the Middle Jurassic San Christoval Plutonic Suite.

A major north-northwest¬ trending and 50 to 60 degree northeast¬ dipping fault, separating the sediments to the east and volcanics to the west, is part of the Rennell - Louscoone fault system.

Locally, a silicified sericite(?) schist with chlorite, carbonate and minor hematite hosts pyrite mineralization. A rock chip sample (R227) assayed 0.97 gram per tonne gold (Assessment Report 08072).

In 1979, Chevron Standard Ltd. completed a program of geochemical sampling and prospecting on the area as the Fanny 1-4 claims.