Basalt fiber is one of the key new materials in the international development, with high added value. The continuous fiber drawn from natural basalt is a new type of inorganic environmental protection green high-performance fiber material with high strength, electrical insulation, corrosion resistance, high temperature resistance, and other excellent properties. Methods: Through the analysis and research on the geological characteristics, petrographic characteristics and petrogeochemical characteristics of olivine basalt. Reviewed the research progress of some domestic production enterprises and scholars on the successful wire drawing of natural basalt, and analyzed and studied the seven major parameter indexes of olivine basalt, which affect the wire drawing performance of basalt ore for continuous fiber. Results: The dense massive olivine basalts originating from the metabasic volcanic rocks of the Niushan Formation of the Miocene Linqu Group are ideal raw materials for wire drawing. Except for the low acidity coefficient, all parameters of olivine basalt in the study area meet the various indexes of continuous wire drawing fiber production. Conclusions: This study can provide reference for subsequent geological investigation of basalt used for fiber and assist in the development and utilization of resources.