This paper deals with its history, current status and next targets of exploration. Mineralization anomalies were found in the ore deposit on the basis of 1∶200 000 and 1∶50 000 geochemical investigations in the period of 2002~2004. Geological mapping shows that marl and mudstone in Miocene Wudaoliang Formation (Nw) unconformably overlies limestone in Permain Jiushidaoban Formaion (Pj) that rides on clastics in Permain Nayixiong Formation (Pn) in terms of a N-dipping thrust fault in the ore zone. It is suggested that Pre-Cenozoic carbonates are prime prospect targets forexploration of ore deposits in Fenghuoshan-Nangqian fold-thrust belt.