The Fortune Graphite occurrence is located to the south and west of the junction of Sheep Creek and the Salmo River, approximately 7.5 kilometres south of Salmo. The claims were originally staked in 2000 and explored through 2002 by Worldwide Graphite Producers.

The area is underlain by argillite, argillaceous quartzite, limestone dolomite, phyllites and schist of the Lower Cambrian Laib Formation.

Locally, several pits have been excavated, to a depth of 3 to 4 metres, in the area. These uncovered a layer of amorphous and massive graphite that seems to have been spread in a horizontal layer under a granular layer. The amorphous graphite layer varies from 7.5 centimetres to 25 centimetres in width.

In 2000, a lone sample of the graphite returned 91.0 per cent ash, 9.0 per cent carbon and 5.6 per cent volatiles (Assessment Report 26554).