The Baguamiao gold deposit represents one of the largest Triassic orogenic gold deposits in the South Qinling metallogenic belt of central China. Here we investigate Ar-Ar dating of sericite and muscovite, fluid inclusion of quartz, the trace element and sulfur isotopic composition of pyrite from different mineralization stage in the Baguamiao gold deposit to gain insights into the ore genesis. The Ar-Ar dating results yield 40Ar/39Ar plateau ages of 217.5 ± 2.1 Ma, 209.2 ± 0.2 Ma and 208.8 ± 0.2 Ma, indicating a two-stage gold mineralization during the tectonic transition from the early metamorphic deformation (at ca. 218 Ma) to the late extension (ca. 209 Ma) in the post-collision environment. Fluid inclusion, trace element and sulfur isotopic analyses reveal that the two stages gold mineralization show different sources. The early mineralization period developed CO2-rich inclusions with medium temperature (317–413 °C) and medium–low salinity (4.62–18.81 wt% NaCleqv.), and is characterized by formation of Py1 and Py2 with depleted Au, Cu, Pb, Zn, Ag, Te and Bi. The sulfur isotope data of Py1 and Py2 are between 3.6 ∼ 10.5 ‰, suggesting that the sulfur source was mainly derived from the surrounding rock (Xinghongpu Group). The late mineralization period developed medium–high temperature (321–453 °C), medium–high salinity (3.3–19.62 wt% NaCleqv.) CO2-rich inclusions and high-temperature and high-salinity daughter crystal inclusions, and is characterized by formation of Py3 and Py4 with obviously higher arsenic and metal contents, such as Au, As, Cu, Pb, Zn, Ag, Cr, Ti, Mn, Sb. The δ34S values of Py3 and Py4 are 8.3 ∼ 18.8 ‰, suggesting a mixed fluid of the Xinghongpu Group and Gudaoling Group with deep magmatic-hydrothermal fluids. We propose that the two periods of gold mineralization in the Baguamiao deposit, in response to the collision assembly of Qinling Orogenic Belt, preserve evidence for diverse metal sources with the early mineralization period sourced from the metamorphism of the upper crust (Xinghongpu Group) in the compressional stage (ca. 218 Ma), and the late mineralization period characterized by the contribution of the Xinghongpu Group, Gudaoling Group and deep magmatic-hydrothermal fluids in a post-collisional extensional setting (ca. 209 Ma). The role of metamorphism and magmatic activity during the Triassic Qinling orogenic processes is considered to be important in the remobilization, transport and enrichment of sulfur, arsenic and gold (and potentially other trace elements) from the earlier formed seafloor exhalation sequence.