The Black Fly graphite occurrence is located east of Stevens Creek and 1.4 kilometres north east of the northern end of Whatshan Lake, approximately 26 kilometres south west of the town of Nakusp.

The area is underlain by calcareous and epiclastic metasedimentary rocks of the Devonian to Carboniferous Chase and Silver Creek formations of the Proterozoic to Paleozoic Monashee Complex.

Locally, quartz-biotite-muscovite-garnet schist, biotite-garnet±muscovite±silliminite schist and marble host coarse- grained flake graphite. Graphite occurs as bright blue-black flakes disseminated throughout and oriented parallel to the foliation plane. Flake sizes generally range from less than 0.1 millimetre to greater than 1 millimetre.

In 2012, 57 grab samples from within the Black Fly claim block returned average values of 1.96 per cent graphite with up to 53.8 per cent graphite (Noram Ventures News Release December 14, 2012). In 2013, diamond drilling (hole J13-005D) yielded up to 1.33 per cent graphite over 21.07 metres (Assessment Report 34974).

In 1980, Shamcrock Construction completed an induced polarization and resistivity survey on the area as the Red Fisher claims. During 2012 through 2015, Noram Ventures Inc. completed programs of rock sampling, geological mapping, eight diamond drill holes, totalling 1294.8 metres, and a combined airborne magnetic and electromagnetic survey on the area as the Jumbo Graphite property.