The 4th of July (L.2638) occurrence is located in the headwaters of Fourth of July Creek, a south-flowing tributary of Canyon Creek.

The area is located just west of a north-trending, east dipping normal fault that marks the western boundary of the Rock Creek graben. Host rocks to mineralization are mainly composed of altered mafic volcanic rocks, argillite and siltstone of the late Paleozoic Wallace Formation. Immediately to the north, a thin veneer of sandstone of the Eocene Kettle River Formation and alkalic volcanic rocks of the overlying Marron Formation, unconformably overlie the Wallace Formation. Numerous dikes, including felsic to intermediate Jurassic and Eocene granite and granodiorite, and Eocene feldspar porphyry and diabase, intrude the Wallace Formation.

Locally, a diabase (dike?) hosts pyrrhotite mineralization. In 1902, a dump sample assayed 4.1 grams per tonne gold (Property File - Minister of Mines [1904-01-01]: Report of the Minister of Mines 1902 - Horseshoe Mountain Camp).

The area has been historically explored sin the late 1800’s in conjunction with the nearby Montana (MINFILE 082ESE111) occurrence. In 1900, good showings of copper-gold mineralization were reported on the Montana, Colorado and Fourth of July claims and $2000 was expended during this year on development work. By 1901, a tunnel, of unknown length but extending for approximately 9 metres before being blocked by a flooded winze, had been constructed.

No known subsequent work was recorded on this property until 1985, when Sundance Gold Ltd. re-examined the old workings. This was followed in 1986 by a limited geological, geochemical and geophysical program, completed by Agrel Resources Ltd., targeting showings on the Montana claim. From 1987 to 1990, Control Energy Corp. carried out an exploration program to gain access and to re-explore the old workings.

In 1994 and 1995, Phelps Corporation of Canada, Limited conducted programs of prospecting, geological mapping, soil sampling and diamond drilling on the area. In 1997, Emjay Enterprises Ltd. optioned the property from Phelps Dodge Corp. and carried out some geological mapping, sampling, and an induced polarization survey. In 1999, the work continued with additional mapping, soil geochemical programs and a ground magnetic survey. In 2000, a program of rock and soil sampling, geological mapping, trenching and a 9.4 line-kilometre ground electromagnetic survey was completed.