Brownfield areas are important targets of exploration; however, the extensive drilling present in these areas has not fully exploited their prospective potential. The appropriate use of drill hole cores in these areas can play an important role in deep exploration. We present a case study of iron oxide-copper-gold (IOCG) Furnas Southeast deposit, located in the Carajás Mineral Province, Brazil. This deposit has disseminated chalcopyrite, bornite and gold mineralization associated with a silicic (Si), potassic (K), calcic (Na), sodic-calcic (Na-Ca) hydrothermal alteration, and intense iron metasomatism with massive magnetite (Fe) alteration. Petrophysical hand-held equipment measurements were carried out on drill core samples with the purpose of studying the potential roles that magnetic susceptibility properties can play in high-grade mineralization. The results indicate that the geological complexity of the IOCG deposit is readily reflected in the extensive variation of the measurements. The statistical analysis shows how the detailed characterization of this physical property carried out for this mineral association could effectively define and describe ore, and the magnetic susceptibility footprints of hydrothermal alteration zones. Furthermore, we were able to perform a magnetic susceptibility 3D modeling of diamagnetic, paramagnetic, and ferrimagnetic responses strictly correlated with known orebody. Thus, petrophysical analyses can form a quantitative geological criterion for ore delineation.