The Cordova magnetite occurrence lies within a belt dotted with ten or more similar occurrences that extend from Zeballos River for about 8.0 kilometres in a northwest direction, at or near the conformable contact between Upper Triassic Quatsino Formation crystalline limestone of the Vancouver Group and overlying, highly altered and folded volcanic and sedimentary rocks of the Upper Triassic Vancouver Group Parson Bay Formation and Lower Jurassic Bonanza Group. These rocks lie on the northeast flank of the north- west elongated Zeballos phase of the Late Jurassic Island Plutonic Suite.

The Cordova occurrence lies 0.6 kilometres east of the Ford- Zeballos Iron Mine (092L 028) and consists of small lenses of massive magnetite in highly pyroxenized tuffs of the Bonanza Group, 60 metres from the contact with Quatsino limestone and near a small quartz-diorite intrusion. The lenses have vertical long axes and range in size from 0.5 kilograms to several tonnes.

In 2021, J.T. Shearer conducted geochemical rock analysis and review of occurrences in the area known as the Zeballos North Gold Project. Rock samples collected near the Blackbird occurrence (092L 130).