The Bud occurrence is located on the north side of the Stikine River, about 46 kilometres south of the community of Dease Lake.

Pyrite and chalcopyrite occur in fractures in Middle Triassic silicified andesite and dacite of the lower part of the Stuhini Group. The volcanic rocks are near a Late Triassic quartz monzonitic intrusive body. About 1000 metres northeast of the Bud showing, a dacite adjacent to a quartz monzonite intrusion contains fine disseminations and blebs of pyrite, chalcopyrite and pyrrhotite. One zone approximately 30 centimetres wide and 3 metres high contained up to 15 blebs of pyrite and chalcopyrite in dacite. Iron and malachite stains are abundant in this zone. A grab sample from the zone (8403D) assayed 8.04 per cent copper, 1.4 grams per tonne gold, 25 grams per tonne silver and 0.19 per cent zinc (Assessment Report 10422). Gossanous zones are visible in the volcanic rocks to the west of the property (near the Bud showing) where finely disseminated pyrite has been identified.

The Bud group of five claims was held by British Newfoundland Exploration Limited and work during 1971 included geological mapping, and a soil geochemical survey over three kilometres of line.

In 1981, DuPont of Canada Exploration Limited staked the Rand claim on the basis of an auriferous stream sediment anomaly and follow-up work later in the year consisted of soil, rock and stream sediment sampling.