Jurassic and Upper Cretaceous volcanic and associated granitic rocks in SE Arizona are remnants of large composite silicic volcanic fields, characterized by voluminous ash-flow tuffs and associated calderas. Presence of 10-15 large caldera fragments is inferred primarily from 1) ash-flow deposits over 1 km thick, having features of inter-caldera ponding; 2) 'exotic-block' breccia within a tuff matrix, interpreted as caldera-collapse megabreccia; and 3) local granitic intrusion along arcuate structural boundaries of the thick volcanics. Several major porphyry copper deposits are associated with late granitic intrusions within the calderas or along their margins. Such close spatial and temporal association casts doubt on models that associate porphyry copper deposits exclusively with intermediate composition strato-volcanoes. -L.C.H.