Lithium (Li), as an essential element of green new energy technology, is a global strategic resource. Sedimentary Li is primarily associated with bauxite, with a local grade of >1000 ppm, and has a huge utilization prospect. However, fine particles limit the study of the occurrence of Li. The Danping bauxite deposit, located in northern Guizhou, China, which accompanying considerable Li resources. In this study, in situ elemental concentration analyses were conducted by laser ablation-inductively coupled plasma-mass spectrometry. The analysis results show that Li is mainly enriched at the bottom and top of the aluminiferous rock series, and the Li content at the top is higher (615.98–3289.98 ppm). Li content is positively correlated with Mg and Fe content, indicating that chlorite is a potential Li-bearing mineral. K content of <10,000 ppm, K content is positively correlated with Li content, indicating that illite may also be a Li-bearing mineral. Kaolinite, transformed from montmorillonite, may also have a high Li content. Ga content is always positively correlated with Al content, indicating that Ga mainly occurs in diaspores. Bauxite has similar Nb/Ta and Zr/Hf ratios to the underlying Hanjiadian Formation shale, as well as the same positive Ce anomalies (negative anomalies in Huanglong Formation), indicating that the ore-forming material of Danping is primarily derived from the underlying Hanjiadian Formation.