The Mazhala deposit is a typical Au-Sb deposit in the northern Himalayan orogenic belt that has increasingly attracted worldwide attentions. However, debates remain regarding the source of ore–forming fluid and its evolutionary process. Herein, we investigate the genetic and compositional evolutionary characteristics of different types of pyrite grains in order to better constrain the ore–forming fluid source and ore–forming processes by means of Using in-situ trace and sulfur isotope data of pyrite and inclusion temperature and H-O isotope data of quartz. Based on the occurrence and morphological features of pyrite, four types of pyrite (Py0, Py1, Py2, and Py3) have been identified. The framboids of pyrite Py0 have high contents of Au, Ag, Cu, Pb, and Sb, with Co/Ni < l, and their δ34S values range from −34.0‰ to −19.3‰, indicating a sedimentary-diagenetic origin. Py1 pyrite exhibits stark core-rim structure. The contents of Sn, Ti, Be and W in Py1c are higher, with Co/Ni > 1. The δ34S of Py1c ranges from 0.30 to 3.9‰ (mean = 1.7‰), indicating a magmatic hydrothermal transformation origin. Py1r, Py2, and Py3 differ greatly in pyrite morphology and trace element contents, with Co/Ni < 1, indicating as hydrothermal sedimentary transformation origin. The δ34S values of Py1r, Py2, and Py3 vary from 1.4 to 6.50‰, interpreted as the presence of metamorphic sulfur sources. The δ34S values of Py1-Py2-Py3 firstly increases and then decreases, indicatinga fluid mixing process. The Mazhala ore–forming fluid is typical of low temperature (270–291 °C), low salinity (1.1–5.0 wt%NaCl equiv) and CO2-enrichment, with H-O isotopic compositions of quartz resembling magmatic and/or metamorphic water, which makes us to infer a mixture of magmatic and/or metamorphic water source for the Mazhala ore-forming fluid. The early pyrite grains were dissolved and reprecipitated under the action of fluid. In the process of multistage hydrothermal interaction, Au and other trace elements were released from the primary pyrite lattice into the fluid, forming the gold–bearing ore–forming fluid. Separation of fluid phase coupled with significant change in the pH value of fluid prompted the co-precipitation of Au and Sb to form the Mazhala Au-Sb deposit.
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