The Perry River carbonatite occurrence is located on a ridge separating the north eastern head waters of the Perry River and the south eastern headwaters of Myoff Creek, approximately 4.5 kilometres north west of Pyrite Lake.

The area lies within the Proterozoic to Lower Paleozoic Monashee Complex, part of the Shuswap Metamorphic Complex, along the western margin of the Frenchman Cap Dome. The core of the dome is composed of mixed, probably Aphebian, paragneiss and orthogneiss rocks, and is mantled by an unconformably overlying succession of metasedimentary rocks, locally intruded by a suite of alkalic gneiss. The metasediment consists of a basal quartzite unit overlain by a succession of interbanded pelitic schists, pelitic gneiss, calc-silicate and marble.

Two types of carbonatites occur within the calc-silicate unit. Type I is concordant within quartz-biotite-gneiss, quartz- amphibole gneiss and quartzite. It trends northwest for 3 kilometres, dips to the southwest, and varies from 20 to 200 metres in width. The carbonatite averages 60 to 80 per cent calcite, 10 to 30 per cent apatite with accessory biotite, amphibole, sphene and minor pyrrhotite, pyrite, sphalerite, chalcopyrite, molybdenite, pyrochlore and monazite. The carbonatites are sovites and are associated with mafic and syenitic fenites. Type II, occurring 2 kilometres to the west, is concordant with a white marble unit and other metasedimentary layers and has been interpreted to be a carbonatite tuff.

Locally, the Type I carbonatite hosts rare earth element values. In 2010, a rock sample (10-PR-004-2) of intrusive carbonatite assayed 0.014 per cent yttrium, 0.010 per cent niobium and 0.730 per cent total rare earth elements (Assessment Report 31983).

Another exposure of carbonatite is located on a south east– trending ridge approximately 5.5 kilometres to the south- south west. In 2010, rock sampling yielded up to 0.004 per cent niobium, 0.007 per cent yttrium and 0.123 per cent total rare earth elements (Sample 10-PR-20-3; Assessment Report 31983).

In 2010, the area was prospected and sampled by Zimtu Capital Corporation.