The Yushishanxi gold deposit is a newly discovered gold deposit with great prospecting prospect in the eastern part of Altun tectonic belt in recent years. The ore body occurs in the metamorphic volcanic series of the Cambian-Ordovician Lapeiquan Group. In order to understand the metallogenic geological conditions of the gold deposits in the Lapeiquan Group in the eastern Altun section and carry out the gold prospecting work, the petrochemical, formation age and tectonic environment of the ore-bearing volcanic rocks in Yushishanxi were studied for the first time by means of the petrology, geochemical characteristics and zircon U-Pb chronology of the ore-bearing volcanic rocks. The results show that the formation age of the mineralized volcanic rocks in Yushishanxi is (471.3 ± 2.1) Ma, and the differentiation of heavy and heavy rare earths is obvious. The distribution curve of rare earths shows a right-leaning pattern of light rare earth enrichment and heavy rare earth deficit, with a weak negative Eu anomaly. The characteristics of trace elements in metamorphic volcanic rocks show the uplift curve of large ion lithophile elements enrichment, which shows that large ion lithophile elements such as Th, U, Nd, Zr, Hf are enriched, and high field strength elements such as Ti, Sr, P are obviously depleted. Combined with the regional tectonic setting and geochemical characteristics of rocks, it is concluded that the volcanic rock tectonic setting may be an island arc environment. In the region, there may be a greater breakthrough in this type of gold prospecting in the metamorphic volcanic rocks of the Cambrian-Ordovician Lapaiquan Group.