The Colorado property is located at the elevation of about 1400 metres, on the northwest slope of Ottawa Hill above Memphis Creek (Twelvemile Creek), 6.5 kilometres north-northeast of Slocan. Access to the area is via 5 kilometres of switchback logging road from the Slocan highway.
A quartz vein in Nelson porphyritic granite has been explored by several open cuts and underground mining consisting of two levels connected by a raise and stoping. Intermittent mining for the periods 1904 to 1915 and 1967 to 1969 produced a total of 67 tonnes, yielding 2188 grams per tonne silver, 2.5 per cent lead, and 5.6 per cent zinc. Western Standard Silver Mines and Hyperion Silver Mines Limited worked the property between 1966 and 1970.
In 1988, Yukon Minerals Corporation conducted soil and rock sampling, and geological mapping in the area. A sample from the Colorado adit assayed 228 grams per tonne silver, 0.27 per cent lead and 0.3 per cent zinc over 0.8 metre on a quartz-galena vein (Assessment Report 18603).