Abstract: The Cercana iron, copper and gold deposit is located on the western margin of the Paleogene porphyry copper molybdenum metallogenic belt in southern Peru. Through field geological investigation, geophysical prospecting, remote sensing and indoor work, the authors have detected that the Cercana iron, copper and gold deposit is somewhat different from the typical porphyry deposit and has some characteristics of iron oxide copper gold deposit (IOCG). The authors also analyzed the deep prospecting potential and pointed out that, in mineral exploration, researchers should consider the problem from the angle of IOCG deposit and make indepth exploration so as to overcome the difficulties currently encountered in ore prospecting.