The Bullion Creek occurrence is located about 85 kilometres east of Dease Lake, just northwest of Wolverine Lake.

Much of Bullion Creek flows over rocks of Ancestral North America, separated from the Cache Creek Terrane to the south by the northwest trending Kutcho fault which occurs just south of the creek's outlet into Blick Creek. These Ancestral North American rocks include the following: limestone and shales of the Upper Cambrian to Lower Ordovician Kechika Group; shales, slate, limestone, siltstone and conglomerate of the Ordovician to Mississippian Road River Group; and micaceous quartzite, mica schist and limestone of the Lower Cambrian Boya Formation, Atan Group. The lowest part of Bullion Creek is underlain by a Devonian to Permian unit consisting of mafic to felsic volcanics, tuff, chert, phyllite, argillite, schist and limestone. This unit may be part of the Quesnel Terrane but this assignment is uncertain (Geological Survey of Canada Open File 2779).

In 1932, placer gold was first discovered in Bullion Creek on the Beaver lease just above a deep rock canyon that occurs on the lower part of the creek just above its outlet. Preliminary prospecting at this time reported the recovery of coarse gold. Recoveries of up to 1.35 grams per cubic metre are reported (Minister of Mines Annual Report 1933, page 71). The Fox lease covered the canyon just below the Beaver lease and encouraging prospects are reported to have been found there also. Above the Beaver lease, the valley flattens and the depth to bedrock is thought to increase.

Government records indicate that between 1926 and 1940, 2830 grams of gold were recovered from Bullion Creek. Over 75 per cent of the gold was produced between 1936 and 1940. In 1965, work carried out by Bullion Creek Mines included trenching, mapping and prospecting.

Bedrock in the creek (probably in the canyon area) is reported to consist of schist, slate and rusty carbonate rock with quartz stringers. An appreciable width of quartz stringers with some pyrite is reported to occur at the canyon head. No sampling of this material was reported.