Abstract: The Elashankou silver-polymetallic deposit in Qinhai Province, located in the southeast end of the Elashan metallogenic belt, is covered by thick Quaternary, with developed swamps, perennial frozen soil layer and flowing detritus. Normal geophysical techniques of exploration are not effective in this area. With high-power induced polarization survey, an IP anomaly in certain scale is delineated. It is inferred to be an ore-caused anomaly. By drilling project, several concealed Ag-Pb-Zn ore (mineralized) bodies are found, showing effective result of the application of such method in exploration in the area.