The Ailaoshan orogenic belt, located in the SE margin of the Qinghai–Tibet Plateau, is an important Paleo-Tethys suture zone in the eastern margin of the Sanjiang Tethys tectonic domain. The areas of Mojiang and Zhenyuan, located in the middle part of the Ailaoshan orogenic belt, are the key parts of the Ailaoshan Paleo-Tethys Ocean closure and collision orogeny. The rhyolites outcropped in the Mojiang area, and the granite porphyries outcropped in Zhenyuan area, are systematically studied for petrology, isotope geochemistry and geochronology. The Zircon U-Pb geochronology of rhyolites and granite porphyries give weighted average ages of 253.4 ± 4.2 Ma and 253.3 ± 2.0 Ma, respectively, both of which were formed in the late Permian period. The rhyolites belong to potassic calc-alkaline to subalkaline series. The patterns of the rare earth elements (REE) show a right-inclined seagull-type distribution, and the trace elements plot is right-inclined. The granite porphyries are high potassic calc-alkaline to subalkaline. The REE patterns show a right-inclined distribution, and the trace elements plot is right-inclined, which is consistent with the typical patterns observed in the crust. The peraluminous, highly differentiated and high ASI values suggest that rhyolites and granite porphyries are S-type granites. The zircon εHf(t) of the rhyolites range from −7.22 to −0.72, and two-stage Hf zircon model ages are (TDMC) 1771–2352 Ma, indicating that the magma source area is mainly crust-derived. The zircon εHf(t) of the granite porphyries range from −0.97 to 4.08, and two-stage Hf zircon model ages are (TDMC) 1336–1795 Ma, indicating that the magma is derived from a depleted mantle source and the partial melting of ancient crustal materials. The rhyolites and granite porphyries were possibly formed in the syn-collisional tectonic setting during the late Permian, and their ages limited the time of the final closure of the Ailaoshan Ocean and the initiation of collisional orogeny.
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