The paper presents the results of geological, geochemical and isotope geochronological studies of Early-Middle Devonian volcanogenic-sedimentary strata of the NW Rudny Altai, which host Devonian VMS-type (volcanogenic massive sulphide) deposits. The study provides a solution to the problems of identification and correlation of volcanic formations, study of their structural and lithological-facial features, which is traditionally a necessary element in the reconstruction of ore-magmatic systems. The aim of the study is to reconstruct the volcanic sequence in the Early-Middle Devonian and to evaluate the contribution of volcanogenic formations of riftogenic and supra-subduction nature to which VMS-type deposits are genetically related. Isotopic U-Pb dating of zircons from representative tuffs is consistent with an age of ~390 Ma. The formation of the volcanogenic strata occurred in a tectonic setting associated with the opening of the sea basin, corresponding to the initial stage of riftogenesis in the Rudny Altai. In terms of geochemical characteristics, the rocks of the lower section are similar to those of the ensialic arcs. The petrogenesis of such magmas should be associated with fluid-saturated conditions of partial melting of crustal substrates and under the control of dehydration of the subducting plate. In the upper section, the volcanic rocks are geochemically similar to bimodal formations from riftogenic settings behind the ensialic arc. This is confirmed by analyses of the genetic type of the formation community (magmatic, sedimentary and ore-bearing) and is consistent with the geochemical type of the volcanic rocks, which is similar to that of riftogenic settings. The conceptual geodynamic scenario corresponds to the formation of the Rudny Altai ore deposits in the transition zone between the island-arc and the back-arc basin, similar to the riftogenic settings of the Eastern Asian margin.