The Cherry Creek Placer deposit is located at the confluence of Cherry Creek and Monashee Creek (082LSE059). Placer activity centred on the north fork or main stream of Cherry Creek 25 to 32 kilometres east of Lumby. Monashee Creek (082LSE059) was previously known as the south fork of Cherry Creek and because of this there is some confusion between the placer activity on the two creeks.

Placer deposits on this creek have been worked since 1876 when it was discovered, until 1945 when the last production was recorded. The deposits have been worked by hand, by an elaborate system of flumes, by hydraulics and later by gasoline shovels. Benches 30 metr above the creek were mined in 1876. From 1890 to 1896, 15 people were working on the creek taking out about $2.00 per day. There was little or no activity between 1905 and 1922, but activity was renewed in 1925.

The valleys were filled with gravel after the retreat of ice and remnants of these gravels have been left in benches up to 91.4 metres high, by the recent stream. Lenticular, irregular gravel beds occur in 12 to 15 metres of a sandy unit. This unit rests on water- worn black slates and shales cut by quartz veins. Boulder clay overlies the sandy unit. Placer gold occurs in the preglacial gravels over several kilometres.

The gold has a low average fineness of 700. Nuggets up to 264 grams (8.5 ounces) have been found. The gold is of 2 types: light, flat, scaly particles, and less commonly, coarse gold pieces.

Most production came from the confluence of Cherry Creek and Monashee Creek, upstream to 5.6 kilometres above the confluence. Production totals 155,158 grams of gold (4989 ounces) (Bulletin 28, page 63).