Abstract: The Balifang Gold Deposit is located in the western part of the Mohe Basin, in the northern segment of the Greater Khingan Mountains. The orebodies are mainly controlled by secondary faults within a ductile shear zone, and the mineralization is dominated by quartz vein-type. Among the 4 hydrothermal stages, stages Ⅱ and Ⅲ are the main ore-forming stages. Stage Ⅱ features well-developed fluid inclusions, including not only gas-liquid two-phase inclusions but also CO₂-bearing three-phase, CO₂-rich, and pure CO₂ inclusions, whereas stages Ⅲ and Ⅳ only develop gas-liquid two-phase inclusions. The gas-liquid two-phase inclusions are primarily composed of CO₂, N₂, CH₄, and H₂O, constituting a CO₂-N₂-CH₄-H₂O system, with traces of organic matter. The homogenization temperature peaks of gas-liquid inclusions in stages Ⅱ-Ⅳ are concentrated at 200 °C-260 °C, 180 °C-240 °C, and 160 °C-190 °C, respectively; the corresponding salinity peaks are 5 %-8 %, 4 %-7 %, and 5 %-6 %, indicating a gradual decline in both temperature and salinity over time. Based on fluid pressure-temperature estimates, the ore-forming depth during the main mineralization stage is approximately 1.35-2.36 km. Comprehensive analysis suggests that the Balifang Gold Deposit formed in an extensional setting during the late stage of the Mongol-Okhotsk ocean orogenic belt evolution. The genesis is more closely related to an epizonal orogenic-type system, with possible overprinting or modification by epithermal low-temperature fluids.