Based on a study of gravity and aeromagnetic anomalies detected in the Yaogangxian wolframite ore deposit in combination with ground magnetic and induced polarization survey, this paper summed up the characteristics of geophysical anomalies in this ore district and made an ore prognosis. Through further geophysical work, the verification drill holes were suggested in the prognostic area. Drilling results of the geophysical field have not only proved the existence of the geophysical source body but also discovered new sources of ores and minerals. Thus the crisis mine exploration has gained a great breakthrough in one of the mining areas. All this has provided a good basis for the mine planning and development.