Evolution of the magmatic–hydrothermal system and formation of the giant Zhuxi W–Cu deposit in South China

•The Zhuxi deposit consists of Mg-skarn, Ca-skarn, and Sch–Qtz–Ms vein ore types.•Orebodies formed by interaction of multi-stage fluids and various wall rocks.•Magmatic fluids mixed with meteoric waters.•Multiple cycles of fluid immiscibility, boiling, and mixing caused precipitation.•Alkanes, fluorides, and carbonate and phosphate complexes transported ore metals.