Abstract: The Nagengkangqieer silver polymetallic deposit, with proved silver quantity of over 2 000 tons, is a large-scale deposit recently discovered in the eastern part of the East Kunlun area, which has become the first large independent silver deposit discovered in Qinghai Province and also has a potential of being supergiant one in size. Based on the study of the geological background, deposit characteristics, ore structure and country rock alteration of the mining area, the ore controlling elements and prospecting direction of this deposit have been analyzed in this paper, and the origin of this deposithas been discussed, which is considered to be related to the volcanic activity of Triassic continental facies. The ore body is located in the volcanic formation, mainly consisting of rhyolite, andesite and dacite, which has been controlled by the NW fault and belongs to the continental volcanic-subvolcanic type of the epithermal deposit(also known as the volcanic hydrothermal type).