This paper reports partial achievements in potential evaluation of magmatic type copper-nickel ore resources in Hualong County, Qinghai Province, mainly by field survey and investigation of Yaqu intrusive rocks, and obtained the zircon U-Pb age of rock formation (442.4±1.6) Ma by ID-TIMS. Geochemical studies of the basic complex closely associated with the deposit show that it is characterized by low Ti, depletion of Nb or Ta and enrichment of LREE and large lithosphile elements. These features, combined with the isotope geochemistry, have led the authors to believe that the magma occurred under the condition of the conversion of subduction to collision in 460~440 Ma in the Qilian Mountain and its adjacent areas, and might have resulted from arc magmatism.