The Kay 49 occurrence is located about 21 kilometres south-southeast of the community of Dease Lake.

The showing occurs in an area underlain by Upper Triassic rocks of the Stuhini Group. Volcanic rock observed on the property consists of greenish red breccias, green massive volcanics with some magnetite and pyrrhotite and porphyritic andesites. These rocks are intruded by granodiorite to hornblende quartz monzonite of the Early to Middle Jurassic Three Sisters Pluton, part of the Late Triassic to Middle Jurassic Hotailuh batholith.

The showing occurs in a metavolcanic/sedimentary sequence about 30 metres wide and dipping vertically. The sequence is epidotized, bleached and mineralized with pyrrhotite, minor pyrite and occasional specks of chalcopyrite. The most intense mineralization comprises about 5 to 7 per cent sulphides over 2.4 to 3 metres. In 1970, a selected sample assayed trace gold, 1.37 grams per tonne silver and 0.04 per cent copper (Assessment Report 2766).

From 1969 to 1972, the Kay claims were worked by Tanzilla Explorations Ltd. Geological, geochemical and geophysical (including magnetometer and induced polarization) surveys were completed. Refer also to the Kay 19 occurrence (104I 037) located 2.4 kilometres north.