Guangning County is a newly discovered deposit which is occurred in black shallow metamorphic rocks of the Cambrian and controlled by structure movement and magma activities. The found of Huangnikeng deposit is another big prospecting breakthrough after finding of Hetai gold deposit in Guangdong Province. Based on analyzing geological background and geological characteristics of Huangnikeng gold deposit, the authors found that it is a typical Hypabyssal shearing-controlled Hypabyssal-epithermal deposit.