Abstract: Analysis of the metallogenic geological conditions and geochemical characteristics of polymetallic deposits in Mabugang basin,which is important for search for polymetallic deposit in the future.Based on the research of the petrological peculiarities and geochemical characteristics of REE,Pb isotope geochemistry and the ore-forming geological conditions,research shows that:the rocks in the basin with high K and high Ca,metaluminous to peraluminous nature,large ion lithophile element in the trace elements Rb,Sr enrichment,content of radioactive U,shows that the rock mass maybe formed in the extensional structural environment,and it's affected by the anatexis of the crust,the rocks and magmatic crystallization differentiation degree highly,characteristics of REE exhibited with remelting magma relations gradually strengthen of the Southern China crust,and within the basin volcano rocks show they have the same magma source region;stable Pb isotope compositions,reflecting the minerals mainly come from upper crust.With the comprehensive analysis of the metallogenic geological condition is superior in the region that:with the prospect of finding middle or large polymetallic deposits around it.