It is known that the Fe-Ag system is immiscible both in solid and in liquid. The maximum solubility of Ag in alpha-Fe is 0.0002at.% and the solubility of Fe in Ag is 0.0065at.%. This immiscible feature is favorable for the fabrication of nano-scaled multilayers material by repeated rolling, because that both Ag and Fe components are mutually insoluble in the interface between Ag and Fe layers. We studied the structure for both Fe-Ag super-laminate fabricated by cold rolling and mechanical alloyed (MA) powder by the use of X-ray diffraction, electron microscopy, Fe-57 Mossbauer spectroscopy and magneto-resistance (MR) measurement. MA powder with the composition of Fe-18.7at.%Ag corresponding to Fe-Ag super-laminates composed of ten thousands layers in 50mum in thickness was prepared. The Mossbauer spectra indicate that Ag and Fe atoms are immiscible in the super-laminates, but mixed slightly in MA powder. So lattice parameter of alpha-Fe slightly increased from 2.866Angstrom to 2.885Angstrom with milling time for Fe81.3Ag18.7 powder. Hyperfine magnetic field decreased from 330kG to 327.5kG for the powder, but it did not change as 330kG for the super-laminates. The magnetic spin direction for the super-laminates was near parallel to the rolled surface. MR effects for the super-laminates have both GMR (giant magneto- resistance) and AMR (anisotropic magneto-resistance) effects.