The Bullion occurrence is located on reverted Crown grant Lot 1200, approximately 800 metres south- south west of Mount Franklin.

The area is underlain by volcaniclastic and sedimentary rocks of the Carboniferous to Permian Harper Ranch Group, which have been intruded by granite and granodiorite of an un-named Middle Jurassic Intrusion. These are overlain by undivided volcanic rocks of the Eocene Penticton Group.

Locally, polymetallic quartz veins are hosted by greenstone and cherty quartzites of the Devonian-Triassic Harper Ranch Group. A quartz shear zone contains oxidized pyrite and "occasional segregations" of chalcopyrite. The host rocks strike north west and south east.

In 1932, the claim was owned by J.F. McCarthy and associates. They uncovered the shear zone by trenching. In 1968, Franklin Mines Ltd. carried out an exploration program in the Franklin camp; however, the only work in the vicinity of the Bullion Crown grant appears to be some road construction. In 1974, D.W. Tully carried out a property examination for Dallas Explorations Ltd. and recommended a program of geophysical surveys and diamond-drilling.

In 1984, Pearl Resources explored the area. A sample from a mineralized quartz vein assayed 22.2 grams per tonne gold over 0.75 metre (Property File - Pearl Resources Ltd. [1984-01-01]: Map - West Union Compilation).

In 1986, Longreach Resources Ltd. staked and optioned much of the Franklin camp area, including the Bullion Crown grant. It is probable that Longreach prospected this area, although no reports were filed. The following year, Longreach's property, now known as the Platinum Blonde property, was optioned to Placer Dome Inc., who proceeded to carry out a major exploration program. In the Bullion area, Placer sampled the trenches. Four chip samples were taken but no description of the mineralization in the Bullion trenches was given. A sample (no. 22069) yielded 0.072 per cent copper, 0.53 per cent zinc, 0.165 per cent lead, 18 grams per tonne silver and 0.64 gram per tonne gold (Assessment Report 17273).

In 1993, Sway Resources Inc. optioned a large number of Crown grants and claims in this area, including the Bullion Crown grant. They proceeded to carry out prospecting, sampling, geological mapping and a 16-hole rotary and diamond-drill program on the Banner (MINFILE 082ENW002) and Homestake (MINFILE 082ENE051) Crown grants.