The Huaniushan lead–zinc–silver deposit is a hydrothermal sedimentary exhalative deposit (SEDEX), and the mining area has complex geological conditions, with the main tectonic structure being the Huaheitan–Shuangfengshan Fault (F3), which controls the distribution of strata and magmatic rocks. Since the discovery of the Huaniushan lead–zinc–silver deposit, diverse interpretations of its genesis and metallogeny have been proposed, making it challenging to establish a definitive geological explanation. Moreover, using a single geophysical exploration method relies on limited rock physical parameters, making it difficult to effectively characterize underground structures. The combined use of multiple geophysical methods can effectively integrate the geophysical characteristics of different rock physical parameters, reducing the multiplicity and uncertainty of the inverse interpretation of geophysical data. The comprehensive interpretation of three-dimensional inversion based on various geophysical data, the construction of geological–geophysical models on geological grounds, the establishment of hidden ore exploration and positioning, and the rapid evaluation of geophysical technological systems are the current research trends in mineral exploration. In light of this, in this study, we conducted research on the three-dimensional inversion interpretation of gravity and magnetoelectric exploration data of the Huaniushan sedimentary exhalative lead–zinc–silver polymetallic deposit and constructed a three-dimensional geological–geophysical model of the study area based on the obtained three-dimensional physical structure of the underground density, magnetization intensity, resistivity, and polarizability of the study area, in combination with related geological and drilling hole data. Finally, we comprehensively interpreted the favorable mineralization sites in the study area.
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