The Taiwan Chelungpu-fault Drilling Project (TCDP) installed a vertical seismic array between 950 and 1270 m depth in an active thrust fault environment. In this paper we analyze continuous noise records of the TCDP array between 1 and 16 Hz. We apply multiple array processing and noise correlation techniques to study the noise source process, properties of the propagation medium, and the ambient seismic wave field. Diurnal amplitude and slowness patterns suggest that noise is generated by cultural activity. The vicinity of the recording site to the excitation region, indicated by a narrow azimuthal distribution of propagation directions, leads to a predominant ballistic propagation regime. This is evident from the compatibility of the data with an incident plane wave model, polarized direct arrivals of noise correlation functions, and the asymmetric arrival shape. Evidence for contributions from scattering comes from equilibrated earthquake coda energy ratios, the frequency dependent randomization of propagation directions, and the existence of correlation coda waves. We conclude that the ballistic and scattered propagation regime coexist, where the first regime dominates the records, but the second is weaker yet not negligible. Consequently, the wave field is not equipartitioned. Correlation signal-to-noise ratios indicate a frequency dependent noise intensity. Iterations of the correlation procedure enhance the signature of the scattered regime. Discrepancies between phase velocities estimated from correlation functions and in-situ measurements are associated with the array geometry and its relative orientation to the predominant energy flux. The stability of correlation functions suggests their applicability in future monitoring efforts.