Abstract: The Jinchuan deposit is hosted by the olivine-rich ultramafic rock body, which is the third-largest magmatic sulfide Ni–Cu deposit in the world currently being exploited. Seeking new relaying resources in the deep and the border of the deposit becomes more and more important. The ore body, ore and geochemistry characteristics of the concealed Cu-rich ore body are researched. Through spatial analysis and comparison with the neighboring II1 main ore body, the mineralization rule of the concealed Cu-rich ore body is summed up. It is also implied that Cu-rich magma may exist between Ni-rich magma and ore pulp during liquation differentiation in deep-stage chambers, which derives from deep-mantle Hi–MgO basalt magma. It is concluded that the type of ore body has features of both magmatic liquation and late reconstruction action. It has experienced three stages: deep liquation and pulsatory injection of the Cu- and PPGE-rich magma, concentration of tectonic activation, and the later magma hydrothermal superimposition. In addition, the Pb and S isotopes indicate the magma of I6 concealed Cu-rich ore body originates predominantly from mantle; however, it is interfused by minute crust material. Finally, it is inferred that the genesis of the Cu–Ni sulfide deposit is complex and diverse, and the prospect of seeking new deep ore bodies within similar deposits is promising, especially Cu-rich ore bodies.