The Blue Lead prospect is located on the northwest flank of Fire Mountain, 23.5 kilometres northwest of the northwest end of Harrison Lake. The Money Spinner vein (092GNE002) is 2.5 kilometres to the south.

The occurrence is hosted in a belt of volcanic and sedimentary rocks, of the Lower Cretaceous Fire Lake Group, which extends northwest from Harrison Lake for 40 kilometres. The Fire Lake Group is an island arc sequence preserved in a roof pendant, which occurs mostly west of the Lillooet River, near the eastern margin of the Jurassic to Tertiary Coast Plutonic Complex. The assemblage has been subjected to thrust faulting, large amplitude folding and regional metamorphism up to greenschist facies.

Four subparallel veins are hosted in volcaniclastic sandstone and feldspathic greywacke ("porphyritic greenstone") of the third member of the Brokenback Hill Formation. The veins, 18 to 24 metres in length and up to 0.6 metres wide, strike 085 degrees and dip between 43 and 46 degrees north. The largest vein varies from 20 to 60 centimetres in width.

The main vein is comprised of banded white quartz that contains thin dark chloritic laminae that are parallel to the sharp walls of the vein. Mineralization consists of minor chalcopyrite and traces of native gold, accompanied by traces of sericite and hematite. A grab sample from a dump assayed 1.4 grams per tonne gold (Minister of Mines Annual Report 1934, p. F16).

A 10 metre decline was driven into the main vein in 1930.