The Capricornio epithermal gold-silver-copper deposit, in the Region II, Chile, consists of multiple epithermal quartz-adularia-carbonate veins, ranging from 150-200 m a.s.l. to *400 m in depth. The veins are hosted in Palaeocene and early Eocene mafic to felsic volcanic rocks, which are hydrothermally altered.The deposition of the primary mineralisation at Capricornio was associated with several Palaeocene-Eocene magmatic episodes, similar to those that caused the deposition of the far greater El Peñ on deposit, in which individual mineralised shoots range from less than 1 km to 4 km in strike length and measure up to 350 m in the down-dip direction. The primary ore association at Capricornio is represented by base metals sulphides (galena, pyrite, chalcopyrite, sphalerite, bornite) as well as by electrum, sulphoarsenides, sulphoselenides, sulphoantimonides and Ag-sulphosalts.In both the El Peñ ó n and Capricornio deposits, the economic mineralisation is mainly concentrated in the supergene alteration zone. At El Peñ on (1300-2000 m a.s.l.), the secondary enriched interval is developed for more than 350 m, whereas at Capricornio (980 m a.s.l), the supergene alteration cannot be traced deeper than 150-200 m from the surface, and gold is enriched mainly in the first 50 m. The reason for the difference in thickness of the supergene alteration zone between El Peñ on and Capricornio is probably associated with the variable levels of uplift and erosion in the two mineralised districts, even if their structural setting and epithermal characteristics were initially comparable.Measured ages of supergene alunite from El Peñ ó n and from other deposits in the region (Warren, Archibald and Simmons 2008) indicate that the weathering of the primary ores occurred already from 23 to 17 Ma, under a semiarid to arid climate, before the onset of the hyperarid period. In this deposit, secondary electrum, which typically consists of over 95% Au, was produced from supergene processes that caused the remobilisation of silver.Supergene processes, whose effects can be followed from the surface down to 150 m in depth, have also affected the primary mineralisation at Capricornio. Such processes have defined a cementation zone, represented by a mineral association consisting of covelline, chalcocite, cerussite, electrum (secondary) and acanthite, and an oxidation zone represented by peculiar minerals, which have been traced from the surface down to 50 m in depth. This particular association consists of chlorides (atacamite, boleite, cumengeite, herbertsmithite), chlorocarbonates (phosgenite), chloroiodates (seeligerite), and halides (iodargyrite), which were all probably deposited in extremely arid conditions. These conditions may have been present in the area from the beginning of the hyperarid climate period (Clarke 2006) that started at 14 Ma and continued up to about 4-9 Ma along the coastal areas of South US, the USA.