Abstract: Laoyachao gold deposit is located in the south margin of Hengyang basin and the middle part of Shuikoushan lead−zinc gold deposit. Gold ore bodies mainly occur in cryptoexplosive breccia system and contact fracture zone, which are controlled by structure, magmatic rock and stratum. Based on the regional geological background of gold deposits, ore deposit geological features, trace elements, S−Pb−O isotope characteristics, metallogenic temperature, pressure and salinity characteristics, orebody characteristics, ore characteristics, characteristics of wall rock alteration and assaying the fineness of native gold, as the basis, combining with the analysis of ore−forming geological conditions, deposit genetic type is determined as cryptoexplosion−liquid compound genesis of gold deposits (medium to low temperature).