With the discovery of the Chengping molybdenum deposit in Xifeng County of Liaoning Province as an example, this paper expounds in detail the important role played by geochemical (stream system, soil) survey in the determination of ore-prospecting targets and metallogenic types as well as the prospecting for the concentration segments of ore (mineralized) bodies, and the application effects of IP intermediate-gradient survey in reflecting the relative enrichment of underground metallic sulfides and the intensity of silicification with the granite body. The full utilization of geophysical and geochemical methods can reduce the multi-solution in anomaly interpretation and make the anomaly interpretation more reasonable, thus achieving good prospecting result.