DC electrical and electromagnetic survey was applied to evaluate the reserve of an iron mine site. We analyzed the borehole cores and the cores sampled from outcrops in order to decide which geophysical method was efficient for the evaluation of iron mine site and to understand the geological setting around the target area. Based on the core tests for specific weight, density, porosity, resistivity and P-wave velocity, showing that the magnetite could be distinguishable by the electrical property, we decided to conduct the electrical survey to investigate the irone mine site. According to previous studies, the DC electrical survey was known to have various arrays with high resolutions effective to the survey of the iron mine site. However it was also known that the skin depth is too shallow to grasp the deep structure of iron mine. To compensate the weakness of the DC electrical method, we applied the MagnetoTelluric (MT) survey. In addition, a Controlled Source MT (CSMT) method was also applied to make up the shortcoming of MT method which is weak for shallow targets. From the DC electrical and MT survey, we found a new low resistivity zone, which is believed to be a magnetite reserve beneath the old abandoned mine. Therefore, this study was confirmed for additional utility value.