I don't know why the locals don't ride this trail with more regularity. I know the South bound trail is fast, but it doesn't hold a light to this trail. This trail is more or less Pisgah minus the lung busting climbs. There's rocks galore, nasty roots, beautiful waterfalls, hairy switchbacks, plenty of creek crossings, caves... and it's all singletrack. This is a long ride. Mileage it isn't a whole lot, but it's slow and technical so be prepared.
As far as the route goes, it's more or less an out-&-back with a lariat on the return trip that's worth hitting up (you'll see it both coming & going.... on the right coming back down the hill.) I usually take it to road 119 and then head back. I'd recommend getting a map from the Daniel Boone National Forest website (London Ranger District.)
This trail is located in the Daniel Boone National Forest. Basically, from 75 take exit 38 (KY 192) and head west for approx. 14 miles. There's a small parking lot right at the 1193 split. Cane Creek is across the way on the North side of 192 (Laurel Lake heads South from the parking lot.)
http://www.singletracks.com/item.php?c=1&i=2514