This paper discusses the characteristics and REE geochemistry of the strata from the late Eocene to the early Oligocene of samples from Hole B at DSDP Site 573. The curve of the REE normalization values (sample/chondrite) is gentle. It is relatively rich in heavy rare earths. Each layer is very deficient in Ce and slightly deficient in Eu. In the metalliferous claystone, the total rare earths content is 568.3X10 (super -6) , much higher than in the other layers. The normalization value of chondrite for each element in the metalliferious claystone is between 50-150, but that of La is about 300. The high content of rare earths is connected to the high content of montmorillonite and other minerals in this layer. The montmorillonite was formed from volcanic dust. This layer is rich in elements such as Ni, Co, Ir which indicate an extraterrestrial origin. Cosmic dust and microtektites are found in the bottom of this layer. Therefore, the formation of this metalliferous claystone may be connected to a meteorite impact event.