Abstract <p>The paper summarizes the results of deep geological and geophysical studies carried out in the Palana–Commander transverse dislocation zone and along its peripheral parts. The paper also presents the methods of field observations and interpretation of deep geophysical research data collected during earthquake converted-wave survey, magnetotelluric sounding, and density modeling. A comprehensive interpretation of geological and geophysical data yielded a geological and geophysical model for the structure of the crust and upper mantle along a sublatitudinal profile running through northern Kamchatka, approximately at the latitude of the Ozernoy Peninsula. Three successive paleosubduction events were identified. A model of dynamic interaction between oceanic and continental lithospheric plates is proposed. At the very center of the model is a fragment of an obducted lithospheric plate with suboceanic crust. The ultrahigh level of resistivity (≥6000–10 000 Ω m) is explained by high-temperature metamorphic reworking of rocks in the zone where a plate is thrust onto the previous subduction zone. A model for the formation of the Ozernovsky epithermal gold deposit is proposed. The Ozernovsky silver–gold ore cluster occurs in the area of high-temperature regional metamorphism. A genetic relationship is noted between the deposit and structural features of the crust and upper mantle. It is suggested that the Central Kamchatka Rift is not bounded by the Palana–Commander transverse dislocation zones, but rather extends to the northeast.</p>