Abstract: The Guogang iron deposit, located in the east section of Southern Qinling fold belt, is a concealed deposit. Two discovered industrial iron orebodies, which are about 25 meters apart vertically, show layered and stratiform-like structures. The host rock is the Devonian Nanwan Formation. The main ore mineral is magnetite, with massive and banded structures. The iron deposit is strictly controlled by stratum. Geochemistry of the trace elements and REE indicates its basin deposition formed in active continental margin. The REE patterns imply that the ore-forming materials are from upper crust of North China plate. The Guogang iron deposit belongs to sedimentary-metamorphic type in genesis.