The Jialbasto iron deposit is situated in Kelan volcanic basin on the southern margin of Altay. Studies of fluid inclusions and stable isotopes show that the ore-forming fluids were middle-low temperature, low salinity and middle-low density fluids due to the addition of relatively abundant meteoric water besides magmatic water in the ore-forming period, and that the metallogenic material resulted probably from Kslgui granite in an extension-strike-slip setting. In combination with previous data, the authors have reached the conclusion that, during Late Carboniferous-Early Permian, extensive magmatism triggered by the crustal extension-strike-slip on the southern margin of Altay resulted in extensive metallogeny of Cu, Zn, Ni, Au and Fe.