  We present results from the observation of the young Galactic supernova
remnant (SNR) G292.0+1.8 with the Advanced CCD Imaging Spectrometer (ACIS) on
board the {\it Chandra X-ray Observatory}. In the 0.3 $-$ 8 keV band, the high
resolution ACIS images reveal a complex morphology consisting of knots and
filaments, as well as the blast wave around the periphery of the SNR. We
present equivalent width (EW) maps for the elemental species O, Ne, Mg, and Si,
which allow us to identify regions of enhanced metallicity in the SNR.
G292.0+1.8 is bright in O, Ne, and Si; weaker in S and Ar; with little Fe. The
EW and broad-band images indicate that the metal-rich ejecta are distributed
primarily around the periphery of the SNR. The central belt-like structure has
normal solar-type composition, strongly suggesting that it is primarily
emission from shocked circumstellar medium rather than metal-rich ejecta. We
propose that the belt traces its origin to enhanced mass loss in the star's
equatorial plane during the slow, red supergiant phase. We also identify thin
filaments with normal composition, centered on and extending nearly
continuously around the outer boundary of the SNR. These may originate in a
shell caused by the stellar winds from the massive progenitor in the red/blue
supergiant phases, over-run by the blast wave.
