The Iron Mountain (L.1490) occurrence is located on the eastern slopes of a ridge separating Mount Maitland and Hidden Peak, approximately 2 kilometres north of Kennedy Lake.

The area is underlain by Karmutsen Formation basalts, Quatsino Formation limestone and Parson Bay Formation calcareous siltstone, all of the Upper Triassic Vancouver Group. These in turn are overlain by Lower Jurassic Bonanza Group flows, tuffs and breccias ranging from basalt to rhyodacite in composition. Quartz diorite to quartz monzonite of the Early to Middle Eocene Tofino Intrusive Suite (previously Catface Intrusions) and quartz diorite and granodiorite of the Early to Middle Jurassic Island Intrusions also disrupt area strata.

An iron skarn deposit, consisting of an exposure of magnetite about 6 metres wide, is exposed in a steep creek bank at the base of a limestone bluff where it is in contact with "granitic" rock. Out-croppings of magnetite occur at several points on the sides of steep ravines farther up the creek. An average sample of the main showing contained 30.10 per cent iron, 0.31 per cent sulphur, a trace of phosphorous and 51.5 per cent silica (Minister of Mines Annual Report 1916).

The mineral claims were originally staked because of the occurrence of gold-bearing quartz veins at an elevation of 730 metres. During 1992 through 1995, W. Guppy completed programs of prospecting, geochemical sampling and a ground electromagnetic survey on the area as the Goldrim claims and Westrim claims. In 2008, Kennedy Lake Syndicate completed a program of prospecting on the area as apart of the Kennedy Lake Project.