The Saunders occurrence is located north of Natalkuz Lake, approximately 13 kilometres east of the eastern shore of Lucas Lake.

The region is within the Intermontane Belt, underlain dominantly by Lower to Middle Jurassic volcanic and sedimentary rocks of the Hazelton Group. These assemblages are overlain by the Upper Cretaceous to Lower Tertiary Ootsa Lake Group and Miocene plateau basalt. Intruding Lower Jurassic rocks of the Hazelton Group in the north eastern part of the map sheet is a belt of granodiorite, diorite and quartz diorite plutons of the Lower Jurassic Topley intrusive suite. Felsic plutons of probable Cretaceous age intrude both Lower and Middle Jurassic Hazelton strata.

Locally, weak to moderate argillic alteration, with local silicification and brecciation, is associated with faulting in rhyolites.

In 1994, Cogema Resources completed a program of till and rock sampling, geological mapping and prospecting. Rock sampling returned up to 2.1 grams per tonne gold and 11.8 grams per tonne silver (Assessment Report 23747). In 1995, the Phelps Dodge Corporation completed a program of geological mapping, prospecting and rock sampling.