The Buzhu gold (antimony) deposit, located within the gold-antimony polymetallic belt of southern Tibet in the Tethys Himalayan belt, is a recently discovered medium-sized gold polymetallic deposit. The orebody consists primarily of gold-bearing quartz sulfide veins. Currently, the metallogenic mechanism of the deposit remains largely unexplored. Utilizing results from the mineralogical observation of principal ore minerals, LA-ICP-MS trace element analysis, and in-situ sulfur isotope analysis of pyrite, investigations reconstruct the evolution process of pyrite-arsenopyrite and constrain the metallogenic process of the Buzhu gold (antimony) deposit. It has been discovered that the gold-bearing sulfides in the Buzhu gold (antimony) deposit are primarily pyrite and arsenopyrite. Pyrite can be categorized into six generations: framboidal pyrite Py0, dissolution cavity pyrite Py1a (some exhibiting oscillatory zoning), disseminated pyrite Py1b, euhedral pyrite Py2a, irregular pyrite Py2b, and Py3. Arsenopyrite, on the other hand, can be classified into three generations: early arsenopyrite Apy0, disseminated arsenopyrite Apy1, and euhedral Apy2. The analysis of δ34S in pyrite throughout the ore-forming process indicates sulfur derives from multiple sources, with Py0 indicative of a biological sulfur source. The evolutionary process of pyrite, supported by trace element analysis, suggests that the remaining pyrite derives from sedimentary fluid transformation, with sulfur primarily sourced from metamorphic sediments. Elemental spectrum analysis and BSE observations indicate that the Buzhu gold (antimony) deposit primarily undergoes two distinct stages of mineralization: the initial stage is the gold-antimony mineralization phase, during which antimony precipitates in the fissures of Py1a as stibnite, while gold is primarily found in Py1-Apy1 as invisible gold, with the highest gold content in Apy1 (28.20–60.13 ppm, average 40.51 ppm). The subsequent stage of mineralization is characterized by gold mineralization, with gold primarily residing in the internal fissures of Apy2 as micron silver gold ore. The evolution characteristics of gold-bearing sulphide and the solubility curve of Au indicate that gold mainly derives from gold-bearing unsaturated fluid, rather than from early framboidal pyrite Py0 (0.52–1.06 ppm, average 0.79 ppm). Only a minor fraction of gold (originating from early sediments) in Py0 was liberated and integrated into subsequent pyrites. The content of antimony in Py0 significantly reduces after dissolution, suggesting that antimony predominantly originates from Py0 (206–440 ppm, average 335 ppm). Throughout the genesis of the Buzhu gold (antimony) deposit, the gold constituent underwent a sequence of pre-enrichment, re-enrichment, liberation, and precipitation. The processes of coupled dissolution-reprecipitation (CDR) and boiling fostered the reactivation and reenrichment of gold. The recrystallization into cubic pyrite led to the expulsion of gold from the pyrite lattice, and fluid oxidation resulting from multistage fluid boiling, coupled with a decrease in sulfur fugacity, led to gold precipitation.
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