Gazestsn magnetite–apatite deposit is situated 78 km east of Bafq. The Gazestan deposit is located in Bafq-Poshtebadam subzone of Central Iran structural zone. The rock units in the area belong to Rizu series and consist of carbonate rocks, shale, tuff, sandstone and volcanics. In addition to sedimentary and volcanic rocks, intrusive rocks in the form of stock and dyke outcrop as diorite gabbro, gabbro, diabase, quartz-monzonite and granite in various places. Green rocks with acidic to intermediate composition (trachyte and dacite demonstrate green color due to alteration) host iron and phosphate mineralization which in some localities, show subvolcanic facies. The alteration is more obvious in the volcanic rocks and includes chloritization, argillic, silicification,which are related to mineralization,,most of the alterations in the area are consistent with fractures and faults. The host rocks are strongly altered. Rocks in the area plot on sub-alkaline field .The tectonic environment of the intracontinental rift and subduction zones.

Mineralization at the Gazestan deposit comprises a combination of iron oxides and apatite with various ratios accompanied by quartz and calcite, seen in different forms mainly within the trachytic-dacitic rocks and a small proportion in the rhyolites. At least, five forms of mineralization are distinguished in the area including massive iron ore with minor apatite, apatite-magnetite ore, irregular vein-veinlets (stockwork) in the brecciated green rock, disseminated, and pure massive apatite veins. The host rocks in the Gazestan area plot on calc-alkaline field