At high tide there are 2 rocks [at low tide a large notch between these rocks ] that form the sides of the dive site. At the outside of these rocks [+/- 30ft depth] it opens out to a nice wide gentle slope. Follow the rock edge to either side, and you can find octo and wolf eels, as well as many of the usual life. It is used as an open water training site. There is little to no current. Note: at high tide the walk to the water is considerably shorter :-)
Moulds Bay is on Quadra Island, [just across discovery passage from Campbell River]. Take the ferry from Campbell River, follow directions to the Cortes ferry [part way at least] turn left onto Hyacynth Road. Follow to Valdez Road, The dive site is at end of Valdez Road. Park off to side of the road. This is a popular launch site for kayaks, too.