Abstract: The Lapeiquan cupper deposit was newly found during our field investigation from 1997 to 1999 in Altyn Tagh, financely supported by national key project. This paper mainly focused on the discovery history and geological features of this deposit. Studies on the features of the ore bodies and the ore-controlling structures, combined with the analysis of the ore-forming elements, suggested that the formation of this deposit probably tightly related not only with the the volcanism in ocean bottom in early stage followed with hot water sedimentation, resulting in original cupper concentrating, but also with the re-activation of the Northern Altyn Tagh fault and Lapeiquan fault in second stage, leading to the migration and enrichment of the ore-forming elementws in favorable areas.