Zhengguang is a partly eroded (about ≥500 m being eroded), structurally controlled intermediate sulfidation (IS) epithermal gold-zinc deposit, characterized by wide distribution of base metal sulfides, Fe-poor sphalerite and Mn-calcite, hosted by the Late Cambrian-Early Ordovician basaltic-andesitic volcanic and volcano-sedimentary rocks in northeast China. The deposit is located 4 and 8 km from the Early Ordovician Tongshan (including several IS veins about ~500 m away in the east called East Tongshan) and Duobaoshan porphyry copper deposits, respectively. A 484.8 ± 8.7 Ma (MSWD = 198) of Re-Os isochron age on pyrite indicates that it is the most ancient intermediate sulfidation deposit that has been dated.Four stages of veins have been discerned at Zhengguang. Early magnetite ± chalcopyrite ± epidote ± chlorite and K-feldspar ± pyrite ± chalcopyrite veins (stage I) were associated with restricted K-feldspar ± epidote (locally with chlorite) alteration and propylitic (epidote ± chlorite ± calcite) assemblages. Two primary epithermal gold stages developed at Zhengguang: pyrite-quartz ± Fe-poor sphalerite ± chalcopyrite ± galena ± electrum ± petzite ± hessite ± tetrahedrite/tennantite ± adularia veins (stage II) and (Mn-)calcite-quartz-pyrite ± Fe-poor sphalerite ± chalcopyrite ± galena ± hessite ± native gold (stage III), plus a late barren stage characterized by little sulfides (calcite ± chlorite ± hematite ± quartz, stage IV). Gold occurs chiefly as micro-inclusions of electrum and petzite in pyrite and sphalerite of stages II and III.Stable isotope analyses and fluid inclusion results indicate a magmatic-hydrothermal component in the ore fluids. Fluid inclusion data from stage I yielded the highest salinity (∼6.9 wt% NaCl) and homogenization temperature (average 264 °C). Calculated oxygen isotope composition of fluid (δ18Owater up to 4.9‰) equilibrated with quartz indicates a magmatic-hydrothermal source during stage I. A progressive addition of meteoric water component is suggested from stage I to IV of Zhengguang based on the average δ18Owater values equilibrated with quartz and homogenization temperatures (stage I: δ18Owater = 3.3‰, Th = 264 °C; stage II: δ18Owater = −1.4‰, Th = 182 °C; stage III: δ18Owater = −3.4‰, Th = 154 °C; stage IV: δ18Owater = −6.3‰, Th = 121 °C).Our new pyrite Re-Os dating result shows that Zhengguang formed at the same time with Tongshan and Duobaoshan within errors. Comparable sulfur isotopic compositions of pyrite from Zhengguang and Tongshan, analogous low-Fe content in sphalerite and similar mineral assemblage and alteration pattern between Zhengguang and East Tongshan IS veins collectively indicate a genetic connection between Zhengguang and Tongshan, which may derive from fluids exsolved from the same magma chamber. High-temperature assemblages (e.g., K-feldspr ± pyrite ± chalcopyrite) at Zhengguang indicate that there is potential for the discovery of porphyry copper–gold mineralization below the current level of diamond drilling. The confirmation of the Zhengguang as an Early Paleozoic epithermal deposit implies a good preservation and exploration potential of ancient epithermal deposits in eastern Central Asian Orogenic Belt.