The Dianfang gold deposit, located in Songxian, western Henan province, China, is one of two breccia-hosted gold deposits in the Xiong’ershan–Waifangshan region. Previous studies suggest that the breccia and host volcanic rocks of the Xiong’er Group formed coevally. The deposit consists of seven vein-type orebodies, occurring within the southern and hanging wall margins of the breccia pipe, as well as in fractures in the rhyolites of the Jidanping Formation, and are structurally controlled by ENE-trending faults. Their mineral assemblage includes K-feldspar, quartz, sericite, chlorite, epidote, carbonate, adularia, and sulfides formed from hydrothermal alteration related to mineralization. Pyrite is the dominant ore mineral, and is associated with minor galena, sphalerite, and chalcopyrite. The trace minerals include magnetite, rutile, cervelleite, matildite, and bismuthinite. Gold occurs as native gold, and electrum inclusions in pyrite, or along microfractures in sulfides and quartz. Four stages of hydrothermal mineralization have been identified: quartz–K-feldspar (I), quartz–pyrite (II), polymetallic sulfide (III), and carbonate–adularia (IV). Zircon U–Pb geochronology of the granitic matrix of the breccia constrains the timing of breccia pipe formation to 145.8 Ma, indicating it formed at the end of the Late Jurassic, rather than the Paleoproterozoic, as suggested by previous studies. Hydrothermal sulfides from the main orebody yield a Rb–Sr isochron age of 121.5 ± 1.7 Ma, placing gold mineralization at the end of the Early Cretaceous. The sulfur and lead isotope data suggest that the ore-forming materials have a close connection with magmatic fluid. The initial ⁸⁷Sr/⁸⁶Sr value of the sulfides is 0.71056 ± 0.00012, suggesting an ancient crustal source, likely the Archean Taihua Group, mixed with a juvenile mantle component. The trace element characteristics of pyrite indicate the mineralizing fluid was magmatic in origin, sourced from a magma derived from the partial melting of the Taihua Complex, and may have been affected by water–rock interaction at high temperatures under reducing conditions. Geological, geochronological, and geochemical data suggest the Dianfang ore deposit is genetically related to a hidden late Mesozoic granite, and forms part of an intrusion-related auriferous system. Gold deposits of similar ages are widespread at the southern margin of the North China Craton, and are coeval with the emplacement of felsic and mafic intrusions, exhumation of a metamorphic core complex, and formation of extensively faulted basins. This suggests that the Dianfang gold deposit formed under conditions of lithospheric extension caused by crustal thinning, and the destruction of the lithosphere mantle beneath the craton during the Late Jurassic to Early Cretaceous.