Hyperspectral remote sensing, featured by integrated images and spectra, is now a frontier of the remote sensing. Using meticulous spectra, hyperspectral remote sensing technology can depict spectral features of objects in detail and are capable of identifying objects rather than simply discriminating them. This study took the Baixianishan region in Gansu Province as an example, and CASI/SASI airborne hyperspectral data were utilized to extract and map alteration minerals by MTMF mapping method. Six hydrothermal alteration minerals were mapped, which contained limonite, sericite and epidote. In addition, we analyzed the types, combinations and distribution of the alteration minerals and divided three stages of hydrothermal activity. It is considered that the favorable ore-forming elements for gold deposits are middle Hercynian porphyraceous granite, fracture and veined distribution of sericite and limonite. The application of CASI/SASI airborne hyperspectral remote sensing data in the Baixianishan area has achieved ideal results, indicative of their wide application potential in the geological research.