The Norsk occurrence is located on the eastern edge of Atlin Lake, north of Burnt Creek, approximately 16 kilometres north of the community of Atlin.

Mineralization is hosted within the Middle Jurassic Fourth of July Creek batholith (Three Sisters Plutonic Suite), which covers an area of about 780 square kilometres north of Atlin. There are two phases present in the area of this occurrence; one composed of a hornblende-biotite quartz diorite and the other composed of a quartz syenite. The variations in composition between these two phases appears to be gradational. Crosscutting these are numerous parallel lamprophyric dikes. These dikes are rarely seen outside the batholith and are crosscut by the Late Cretaceous Surprise Lake batholith. This suggests they may be coeval with the Fourth of July Creek body and represent a mafic residual differentiate from the same parent magma emplaced only slightly later. Some schists and gneisses have been seen on the property and may represent metamorphosed roof pendants of volcanic or sedimentary rocks of the Mississippian to Triassic Cache Creek Complex which host the intrusion.

Molybdenite mineralization occurs as blebs, stringers, and disseminations along narrow quartz veins and veinlets often closely associated with the north-trending dikes.

In 1969, Canadian Johns-Manville Company Ltd. personnel visited the area and conducted reconnaissance geological and geochemical investigations. Grab sample 13735 returned 0.29 per cent molybdenum (Assessment Report 2118). In 1969 and 1971, geophysical (induced polarization) and soil geochemical work (575 samples) by Canadian Johns-Manville Company outlined an anomalous zone which was open ended into the lake and towards the Island Moly occurrence (104N 002) located on a small island only a kilometre or two offshore.