106 samples were sequentially collected from a 106.5 m vertical core of the loess cover on the Diyanqinamu Mo-Ag deposit in the grassland area in the Inner Mongolia. The contents of 33 elements were measured by Niton XL3t X-ray fluorescence analyzer. The long-term trends of the 18 elements were detached from the content spatial series, which were classified into several clusters. Ore-forming factors Mo-W factor and Pb-Zn factor were obtained by factor analysis, and the exponent transportation modes of the Mo-W factor were simulated. The research approach and results of this paper could be useful references for evaluating mineral resources of covered areas from the surface geochemical anomalies.