In this paper, the authors utilized the high-precision ground magnetic survey and Controlled Source Audio Frequency Magnetotelluric (CSAMT) technique to study the Yuejinshan iron deposit in Qinghai Province. The integrated geological and geophysical survey in this area shows that it is vital to design appropriate strategies and adopt suitable methods for ore explorations in areas of complex topography and geological setting. The choice of strategies and methods has a direct and significant influence on the final survey results. The studies also indicate that a combination of high-precision ground magnetic survey and CSAMT technique can produce highly reliable survey results for this area. The authors made an integrated evaluation for the mine exploration prospect in Yuejinshan area based on an analysis of local geological settings and geophysical anomalies. The geological-geophysical prospecting model developed in this study can serve as a valuable prototype for mine exploration in areas with similar geological evolution settings.