The Sheephorn Creek occurrence is located 12 kilometres east of Kedahda Lake, about 117 kilometres north-northwest of the community of Dease Lake.

The showing is located between Upper Mississippian to Permian Nakina Formation (Cache Creek Complex) volcanic rocks to the southwest and Upper Triassic Shonektaw Formation (Takla Group) volcanic rocks to the northeast.

Large pieces of magnetite float are abundant in a pass at 1555 metres elevation, between the heads of Glundebery and Sheephorn creeks. Nearby, a lens of massive magnetite a few centimetres thick and about a metre long, occurs in silicified, coarse-grained granite of the Late Cretaceous Glundebery batholith. Magnetite has also been reported in pegmatites in the area.