Abstract: Based on the field investigation of the Zhijiadi Pb-Zn-Ag deposit, the geological and geochemical characteristics of this deposit have been studied, the metallogenic material source and genesis of this deposit have been discussed, which provide scientific basis for further understanding the metallogenic regularity of epithermal polymetallic deposits and building the related metallogenic models. The results show that the Zhijiadi Pb-Zn-Ag deposit is a polymetallic deposit related to cryptoexplosive effect, and theindustrial ore-bodies are strictly controlled by cryptoexplosive breccia bodies. These ore-bodies were developed in the contact zone between cryptoexplosive breccia and/or sub-volcanic rocks and dolomite, as well as the contact site between fault structure and secondary fracture structure. This developed law of ore-bodies plays a certain guiding role in the prediction and prospecting works. According to the analysis and study on the metallogenic geological background, trace element and REE geochemical features, as well as isotopic compositions, it's believed that the magmatic rocks in this deposit were sourced from lower crust and mixed with mantle-derivedmaterials, which prove a proof for establishing the mineralization model. And then, the geochemical characteristics and ore-forming material source of this deposit have been discussed.