We prepared 50 periodic nano-layers of SiO2/AgxSiO2(1-x). The deposited multi-layer films have a periodic structure consisting of alternating layers where each layer is between 1-10 nm thick. The purpose of this research is to generate nanolayers of nanocrystals of Ag with SiO2 as host and as buffer layer using a combination of co-deposition and MeV ion bombardment taking advantage of the electronics energy deposited in the MeV ion track due to ionization in order to nucleate nanoclusters. Our previous work showed that these nanoclusters have crystallinity similar to the bulk material. Nanocrystals of Ag in silica produce an optical absorption band at about 420 nm. Due to the interaction of nanocrystals between sequential nanolayers there is widening of the absorption band. The electrical and thermal properties of the layered structures were studied before and after 5 MeV Si ions bombardment at various fluences to form nanocrystals in layers of SiO2 containing few percent of Ag. Rutherford Backscattering Spectrometry (RBS) was used to monitor the stoichiometry before and after MeV bombardments.