Shibandun Fe deposit is situated at southeast of Subei Mongol Autonomous County in Gansu Province. The ore-bearing strata is Huaer Formation of Jixian system, and it is a lithostratigraphic unit which is mainly carbonate rocks of thin-medium bedded neritic environment and is mingled with clastic rocks. The low green schist facies are formed by the regional low-temperature dynamic metamorphic action. After prospecting work, 23 ore bodies have been delineatived, and it’s a major breakthrough in exploration and prospection of Fe deposits in Gansu Province in recent years.