Chalk Creek originates at the Continental Divide in the Collegiate Peaks region of central Colorado, flowing eastward for approximately 27 miles through Chalk Creek Canyon before joining the Arkansas River near Nathrop in Chaffee County. The creek descends from elevations above 11,000 feet to approximately 7,600 feet at its confluence, creating a steep mountain stream character throughout most of its length.

The creek derives its name from distinctive white kaolinite cliffs that stand at the entrance to Chalk Creek Valley, formed by ancient hot spring deposits. These brilliant white formations remain visible for miles and provide a stark geological contrast to the surrounding forested mountains. The drainage flows through a transition zone where igneous and metamorphic rocks give way to sedimentary formations, contributing to the creek's unique mineral characteristics.

Chalk Creek supports populations of brook, brown, rainbow, and cutthroat trout, making it a popular fly fishing destination. The riparian corridor features dense stands of aspen, cottonwood, and various conifer species, while the surrounding high country harbors typical Colorado mountain wildlife including elk, deer, and black bears.

The canyon holds significant mining history from Colorado's 1870s-1880s gold and silver boom. Historic townsites including St. Elmo, Hancock, Alpine, Romley, and Hortense once thrived along the creek during the Chalk Creek mining district's peak production years. St. Elmo, listed on the National Register of Historic Places, remains one of Colorado's best-preserved ghost towns and serves as a major visitor attraction. The Denver, South Park and Pacific Railroad historically followed the canyon, with remnants of the narrow-gauge route still visible, including the sealed Alpine Tunnel that once transported ore across the Continental Divide to Gunnison.

Access to Chalk Creek follows County Road 162 west from Nathrop, approximately 8 miles south of Buena Vista on Highway 285. The canyon contains four developed Forest Service campgrounds: Mount Princeton, Chalk Lake, Cascade, and Iron City. Camping and campfires are restricted to these designated sites within the canyon proper, though dispersed camping is permitted above St. Elmo and near the Hancock townsite.

Several hot springs emerge in the valley, with Mount Princeton Hot Springs Resort offering commercial soaking facilities near the canyon entrance. The Colorado Trail crosses the Chalk Creek drainage, providing backcountry access to the Collegiate Peaks Wilderness. Multiple trailheads along the canyon road serve hikers, mountain bikers, horseback riders, and off-highway vehicle users exploring the historic mining district and alpine basins. Winter access varies depending on snowpack, with the upper canyon typically closing seasonally.