The Fule Pb-Zn deposit is located in the southeastern Sichuan-Yunnan-Guizhou Pb-Zn polymetallic metallogenic province, South China. The ore bodies occur as layers and lenses in dolostones of the Middle Permian Yangxin Formation, and are controlled by interlayer fracture zones. The Pb + Zn metal reserves are about 0.5 million tones with an averaged Pb + Zn grade of more than 15. 6%. The dissolution, recrystallization and hydrothermal brecciation of host carbonate rocks within and peripheral to mineralized rocks are common in the deposit. These effects may develop in combination with silicification and dolomitization and constitute the major form of wall rock alteration in the deposit. These are the results of the chemical reaction between acid hydrothermal fluids and wall rocks. Hydrothermal dolomite can be formed pre-, syn- and post-ore stages and the late-formed hydrothermal dolomite often has partially replaced the early-formed hydrothermal dolomite. When hydrothermal fluids filled along the fissures and obvious alteration halo can be formed on both sides. The sulfides in the primary ores are mainly sphalerite, galena and pyrite, associated with a small amount of chalcopyrite and tetrahedrite. Dolomite and calcite are the main gangue minerals. The main ore structures include massive, disseminated, vein and breccia. Three colors of black, red and brown sphalerites are identified in the Fule deposit. LAICPMS study shows that the elements of Cd, Cu, Ga and Ge are enriched in sphalerite, while the contents of Fe, In and Mn are depleted. In the LA-ICPMS time-resolved profiles, the above-mentioned elements show a level-shaped, consistent with the content changes of S and Zn, indicating that these elements may occur in sphalerite in the form of isomorphous substitution. However, the elements Sb, Pb and Ag fluctuate greatly in LA-ICPMS time-resolved profiles, suggesting that those elements may occur as fine-grained mineral inclusions, which is consistent with the microscopic observation of galena particles in sphalerite. Systematic study shows that the color of Fule sphalerite may be caused by several elements ( such as Ni, Cu, TI, Ga, Hg, Fe and Cr) or element association. Purple sphalerite is attributable to the substitution of Ni, Cu and Ga for zinc in the sphalerites structure, red sphalerite is enriched in Cu and yellow sphalerite has high Ga content. The sulfur isotopic compositions of the three colors of sphalerites vary from 12. 2 to 14. 6 parts per thousand. These are similar to the sulfur isotopic compositions of sulfate in Permian sedimentary rocks, suggesting that delta S-34 values are enrichment in sulfides and the resources of HS- or S2- in the hydrothermal fluids were originated mainly from evaporated sulfate by thermochemical sulfate reduction ( TSR). (207)pb/Pb-204, (206)pb/Pb-204 and Pb-208/Pb-204 values of sphalerite are ran g in g of 15. 604 similar to 15. 737, 18.570 similar to 18. 732 and 38. 532 similar to 38. 667, respectively. The Pb isotopic ratios of most sphalerites are plotted into the field of the basement metamorphic rocks of the Proterozoic Kunyang Group, with a few plotted into the fields of Emeishan basalts and orehosting sedimentary rocks. This shows that the metallogenic metals of the Fule Pb-Zn deposit are mainly derived from the basements, with a certain influence from sediments and basalts. In summary, the Fule Pb-Zn deposit is a carbonate-hosted, highgrade, dispersed elements-rich epigenetic Pb-Zn deposit. The Pb-Zn mineralization occurred within interlayer structures under the back ground of tectonic compression.