Abstract: Senbugunba gold deposit occurs in the volcanic-subvolcanic rocks of Cenozoic Linzizong group. The main orebodies lie within the subvolcanic rock itself or in the inside and outside contact zones between the subvolcanic rock and wall rock. The volcanic apparatus serves as the important ore-control structure, and the host of ore as well. By elementary analysis of H, O, S and Pb isotopic geochemistry for the samples from the mineralized quartz veins and altered wall rock, it is obvious that the ore-forming fluid is volcanic-subvolcanic hydrothermal solution. The ore-forming substance may originate from deep of the mantle. The fluid inclusion shows moderate temperature feature with weak acidity. Thus, its ore genesis can be subjected to moderate temperature volcanic-subvolcangene hydrothermal replacement tectonoclastic altered rock gold deposit.