RACE Quartz-calcite veins containing Au, As, W, Cu, Pb, Zn and Fe cross-cut Alpine Fault- related structures in the Alpine Schist of South Island, New Zealand. These veins, and some other related veins have been deposited by metamorphic fluids at 250C to >320C at pressures of a few hundred bars. The fluids were very variable in composition, with 0 to 50 mole % CO2 and 2 to 18 wt. % NaCl equivalent. Penetration of hot metamorphic fluids to shallow levels in the crust was facilitated by rapid uplift of hot rocks at a compressive plate margin. Fluid immiscibility at shallow levels caused concentration of salts and metals into the aqueous phase. Gold precipitation was caused by reduction by pelitic country rock and/nr dluILion by other aqueous fluids.