The gold deposits in southeastern Guizhou are located within the southwestern Jiangnan orogen, and have significant exploration potential. The Kengtou gold deposit is one of the numerous lode gold deposits in the southeastern Guizhou district. In recent years, in addition to the lode- type ores proven by the prospectors, alteration- type ores have also been discovered. However, the ore- related structures, alteration type, relationships between lode- type and alteration- type ores are poorly constrained and remain unclear. This study combines current exploration with scanning electron microscope (SEM) and electron probe microanalysis (EPMA) data from ore sulfides and altered minerals to present a new ore- forming process (fluids- alteration- mineralization) for the Kengtou deposit. The mineralogical chemistry of rutile indicates a typical orogenic origin. Mineralogy studies show that framboidal pyrites and Fe- dolomite were formed in the diagenetic process of wall rock (low- grade metamorphism), which could provide metals (e.g., Fe) for ore- stage sulfides. The three gold mineralization stages identified in this study include Ser+Apy+Py+Qtz, Py+Apy+Qtz, and Au0+Qtz stages, based on minerals textures and crosscutting relationships. Our study shows that Ser+Apy+Py+Qtz stage is dominated by ore fluids interacting with the wall rock that caused disseminated pyrite and arsenopyrite deposition. The Py+Apy+Qtz stage formed the alteration- type ores and is dominated by gold- bearing pyrite and arsenopyrite, as well as anhedral native gold grains. In contrast, the late- ore stage is characterized by lode- type ores, and contains the quartz veins and euhedral native gold grains. The study of gold occurrences shows that gold in pyrite at early- ore stage is present as micro- submicroscopic gold nanoparticles, whilst the main- ore stage present as Au1+in the pyrite and arsenopyrite. The native gold grains have been found in fractures of sulfides at the main- ore stage and within quartz veins at the late- ore stage. Overall, we propose that multi- episodic mineralization processes lead to gold enrichment, which generated high- grade gold resources.