Hydrothermal activity and mesothermal-styled gold mineralisation occurs near the main topographic divide of most active or young collisional mountain belts. The Southern Alps of New Zealand is used in this study as a model for the mineralising processes. The collisional tectonics results in a two-sided wedge-shaped orogen into which rock is transported horizontally. Upper crustal rocks pass through the orogen and leave the orogen by erosion, whereas lower crustal rocks are deformed into the mountain roots. High relief drives meteoric water flow to near the brittle–ductile transition. Lower to upper greenschist facies metamorphic reactions, driven by deformation at the crustal decollement and in the root, release water-rich fluids that rise through the orogen. Intimate chemical interaction between fluid and rock results in dissolution and later precipitation of gold, arsenic and sulphur. Fluid flow and mineralisation in the topographic divide region is facilitated by a network of steeply dipping faults and associated rock damage zones where oblique strike-slip faults intersect the thrust faults that strike subparallel to the main mountain range. The Nanga Parbat massif of the western Himalaya is an example of an active collisional zone which hosts hydrothermal activity but no gold mineralisation. The lack of gold mineralisation is due to the following factors: CO 2-dominated rising metamorphic fluid in dehydrated amphibolite-granulite facies metamorphic rocks does not dissolve gold and arsenic; hot (up to 400 °C) meteoric water confined to fractures in the gneiss limits dissolution of gold and arsenic; low density of hot water/dry steam, and low reduced sulphur content of fluid, restrict solubility of gold and arsenic; absence of fracture networks in the core of the massif and the small volumes of circulating fluid limit metal concentration; and lack of reactive rock compositions limits chemically mediated metal deposition.