The paper presents the results of studying the distribution of major, rare, and rare earth elements in the terrigenous rocks, wall-rock metasomatites, and ore zones of the orogenic Malo-Tarynsky gold deposit (Upper Kolyma folded area, Northeast Russia). Hydromicatization, carbonatization, sulfidization, and silicification played an important role in the formation of metasomatites and ore zones leding to different mobility of macroelements with a predominance of acidic low-temperature carbonic-calcium metasomatism. Increase in the proportion of quartz in wall-rock metasomatites and ore zones involved the loss of the most of the rock-forming elements: К, Na, Al, Fe, Mg, and Тi, and Ca and CO2 were supplied. The ores and metasomatites of the deposit are characterized by As-Au-Sb-W geochemical specialization with low Bi, Co, Ni, Cr, Cu, and Zn and high Li, Ag, Cd, and Sc concentrations. The distribution spectra of REE contents in modified rocks are similar to that of REE in Upper Triassic host rocks showing some tendency to decreasing their amount. The removal of rare earth elements during the formation of metasomatites and ores was established. The values of the Eu/Eu* (0.61–0.88) and Ce/Ce* (0.6–1.3) anomalies indicate slightly reducing conditions of the ore formation with a limited involvement of oxidized meteoric water.