The Klaanch occurrence is located south west of the Nimpkish River, approximately 1.5 kilometres north of Tsiko Lake. This lies on strike with the Iron Crown occurrence (MINFILE 092L 034), 1.2 kilometres to the south east.

The area is underlain by north striking carbonates and calcareous sediments of the Quatsino and Parson Bay Formations overlying Karmutsen Formation tholeiitic basalts, all of the Upper Triassic Vancouver Group. Lower Jurassic Bonanza Group andesitic to rhyodacitic lava, tuff, breccia and minor sediments are coeval with, or genetically related to, granodiorite of the Nimpkish batholith of the Island Intrusions. Strong regional north to northwest trending faults, often defining intrusive and lithological contacts, traverse the area.

Locally, massive magnetite contains irregular small quantities of pyrite and chalcopyrite and disseminations in volcanic rocks. The massive mineralization is up to 3 metres wide. No details are available. It is assumed that geological details are similar to the Iron Crown (092L 034) occurrence.

Magnetite was discovered in the area in 1897. During 1954 through 1963, Kla-anch (Lot 128) crown-granted mineral claim was optioned by Nimpkish Iron Mines and explored in conjunction with the Iron Crown (MINFILE 092L 034) occurrence. During 2010 through 2012, Homegold Resources prospected and sampled the area as the Nimp, Klac and Klack claims.