The lead-dominant, stratiform sulphide deposit of Sargipali occurs in the upper part of a Proterozoic metasedimentary sequence within the Gangpur fold belt. The deposit is hosted in granet-biotite schist which along with the ores have undergone deformation and amphibolite-facies metamorphism. Lead isotopic analyses have been carried out on six samples of galena from this deposit. Four samples (out of the six samples as above) have also been analysed to find out the sulphur isotopic composition. The data, along with those already available, have been critically examined to evaluate their implications for ore genesis. It is revealed that the deposit has extremely homogeneous lead isotopic composition, indicating derivation of lead from an isotopically homogeneous high μ source. Lead with high μ values (11.746 to 11.781) reflects an evolution in uranium-enriched, felsic upper crustal terranes. The galena ages range between 1682 and 1695 Ma, which is not far from the probable age of the upper part (hosting the deposit) of the Gangpur sequence (1700 to 2000 Ma). Sulphur isotopic values indicate a seawater sulphate source. The present study supports a sedimentary exhalative (Sedex) origin of the deposit.