Based on studies of sequence stratigraphy, event stratigraphy, biostratigraphy and lithostratigraphy, it is concluded that the Sailinhudong Group is a part of the Bayan Obo Group. Some trilobite fragments are first found in thin sections of the rock from the lower part of the Sailinhudong Group and some Ordovician acritarchs and chitinozoans are also found in this group. A formationa unit of carbonate seismites is first recognized in the upper part and a huge micrite mound is first identified at the top. Dolomite, the host rock of the super giant Bayan Obo Fe-Nb-REE deposits, is neither an igneous carbonatite nor a common bedded sedimentary carbonate, but a huge micrite mound. It has the same macroscopic characters as the micrite mounds at the top of the Sailinhudong Group, which suggests that they should be of the same horizon. According to the fossils, the Sailinhudong and Bayan Obo Groups should be of the Early Palaeozoic rather than the Middle Proterozoic. The new discovery and new idea will throw light on the explanation of the genesis of the supergiant Bayan Obo Fe-Nb-REE deposits.