Abstract: The Hengyang Basin is a junction zone between the Yangtze Plate in South China and the Cathaysian Plate. It is expected to have great potential for rich mineral resources given its complex geological tectonic movement history. This paper aims to deeply analyze and explore the stratigraphic framework and deposit occurrence mechanisms on the northwestern margin of the Hengyang Basin. To this end, a series of geophysical surveys in this area were carried out. Firstly, a multi-method survey of a long section spanning the Ziyunshan and Nanyue rock masses was conducted and the structure of the northwestern margin of the Hengyang Basin was accordingly analyzed. Secondary, large-scale fine detections of subsections in the key sections/blocks were carried out using induced polarization (IP) sounding. Meanwhile, the characteristics of the IP response of the Changshou-Hengyang-Guanyin’ge fault were analyzed especially, and the genesis and metallogenic prospect of the fault were explored. Finally, the migration rules of ore-forming materials on the margin were investigated based on comprehensive information such as regional geological and gravity anomalies. The combined results confirmed that the Hengyang Basin is a typical sub-mantle plume-mantle branch system.