The Lingjing iron ore deposit in Xuchang County is of the volcano-metamorphosed sedimentary type. Based on previous studies, this paper analyzes the high magnetic anomaly characteristics and geological characteristics of the deposit. It is concluded that this area has a good ore-search prospect toward depth, where the ore body may extend along its trend down to depth. And with further exploration toward depth, it is possible to greatly increase the mineral resource reserve in this area.