Areas and substances where black mold can be found include water soaked wood, ceiling tiles, wall paneling, cardboard, even items made of cotton. Black mold can grow on drywall and insulation and can infest areas in the floors, walls and ceilings. Moisture is essential to the growth of black mold, and when it is wet it is shiny in appearance. If you were to physically touch a spot of black mold, it would feel slimy and would smear on the area.