Abstract: Magmatic nickel–cobalt sulfide deposits are the main source of nickel–cobalt resources in China, and the Jinchuan deposit is the main supplier of nickel–cobalt sulfide ores in China. However, with the rapid development of emerging industries and the advent of a low–carbon era, China’s dependence on the external supply of nickel–cobalt resources continues to rise, which is a serious threat. Deep exploration is the only way to increase the storage and production of nickel–cobalt resources. Based on the systematic study of the distribution patterns of the ore bodies of the Jinchuan magmatic sulfide deposit and the gravity, magnetic, and electrical data, a geological–geophysical three–dimensional model for the deep ore exploration was established. The ore–bearing evaluation indicators were summarized, and the possible locations of hidden ore bodies were inferred. This work supports the deep exploration of the Jinchuan magmatic nickel cobalt sulfide deposit and improves China’s self–supply capacity for nickel–cobalt resources.