Lying at the exocontact zone of Baimashan granite in the Xuefengshan ductile nappe belt on the southeastern margin of the Yangtze massif, the gold deposit is an altered rock type deposit in a structural shatter zone。Three NW-striking ore vein zones lie obliquely on the eastern side of a SN-trending regional compresso-shear fault. The ore deposit was formed through silicification，sericitization，pyritization and arsenopyritization of shear-tensiletectonite，with the western part dominated by metasomatismand the eastern part characterized obviously by filling. The ore-forming epoch might be di vided into quartz-pyrite-arsenopyrite stage，sulfide-native gold stage and quarta-carbonate stage。 With Ag 0.65%一26.39%and small amounts of Fe and Cu，gold minerals are mainly native gold，argentiferous native gold and，to a lesser amount，electrum。In the form of xeno-morphic fine crystals，they have fineness of 736-993 (averagely 896)。In the shal-low part，pyrite is mainly{100};toward the depth，combinations of (210} and{100} increase，and gold becomes richer。S/Fe=1.92-2.02, sulfur content is high，Co/Ni ratios averagel.17，Se/Te=12.4，S / Se=7.8×104，δ３４S values vary in the narrow range of +0.320--7.58%0，Au/Ag is as high as 12.58%，as content averages 5816 × 10-6 , similar to features of magmatic-hydrothermal gold deposits in eastern Shandong。Gas-liquid inclusions are numerous in quartz，being from lum to 18um，with gas to liquid ratios 5%-5% and homogenization temperatures 180-320℃ 。Gas phase is dominated by H2O and CO2, and deficient in N2，H2O，H2O＞＞CO2，Na+/K+=0.8-4.47，CI-＞F-。At the quartz-pyrite-arsenopyrite stage，δ18OH2o =0.79%-7.14%0，similar to values of Baimashan granite，and δDH2o=-54.7%0-91.2%0，suggesting character of magmatic water。 The ore deposit was medium-low temperature magmatic-hydrothermal origin with orebodies formed at medium to shallow depths and hydrothermal solution migrating from north to south and from west to east, It is medium-large sized，and ore-prospecting work is most promising in the western part as well as at depth of NO. I ore vein zone。