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We performed a geophysical studv in the Antinaco-Los Colorados Valley in order to determinate the thickness of the sedimentary cover and the sequence of the more superficial layers. Nine magnetotelluric and four audiomagnetotelluric soundings were established along an east-west profile. The analysis of the results, using the traditional Swifts diagonal minimization method, indicates a deep basin and a very conductive layer is detected at around 400m, coincident with the depth of drillings, which may be associated to the presence of aquifers. In this paper we present a re-interpretetion of the magnetotelluric impedence tensor using the decomposition techniques developed by Bahr.