This article presents the features of the geological structure and the patterns of distribution of noble metals in the ores of the Gedabek gold–copper–pyrite deposit. It has been established that mineralization is localized within the volcanoclastic horizons of the Upper Bayasian rhyolitic sequence, which underwent intensive metasomatism, resulting in the formation of secondary quartzites. Atomic absorption spectroscopy data revealed an uneven distribution of gold and silver, with the highest metal concentrations associated with the pyrite–chalcopyrite–sphalerite association in primary ores. Chalcopyrite has been identified as the main mineral hosting gold, whereas native gold mainly occurs in a finely dispersed form within sulfides. The features of the hypergene zone have also been studied; here, as a result of secondary sulfide enrichment and leaching processes, gold accumulations are formed that exceed the size of those found in primary ores