The giant Jiama polymetallic ore deposit is a porphyry–skarn system in the eastern Gangdese porphyry belt of the Tibetan Plateau. Steeply dipping high-grade massive sulfide veins are classified as lode-type high-sulfidation (HS) mineralization comprising mainly Cu-sulfosalts in Au-poor and Au-rich veins. Au-poor veins contain an As-rich pyrite–enargite–tennantite assemblage, whereas Au-rich veins contain an Sb-rich enargite–luzonite–tetrahedrite–chalcostibite–watanabeite assemblage. The coexistence of pyrite, dendritic muscovite, and euhedral quartz in the Cu-sulfosalts indicates slightly acidic or near-neutral formation conditions. Most Au- and Ag-bearing minerals are inclusions of tellurides (hessite, sylvanite, and petzite) in tennantite–tetrahedrite, and watanabeite. Au and Ag concentrations in tennantite–tetrahedrite, watanabeite, and chalcostibite are much higher than in enargite and luzonite, confirming that they were controlled by intermediate-sulfidation state Cu–As–Sb–S solid solutions, with Au tending to be enriched in Sb-rich minerals compared with As-rich solid solutions. The HS veins overlying the known porphyry intrusion and cutting skarn orebodies in the Jiama deposit constitute a porphyry–skarn–high sulfidation system. The occurrence of HS veins suggests that channels in paleo-fumaroles and the mineralization that resulted may be ascribed to expansion of magmatic vapor. HS veins close to the porphyry intrusion exposed at the surface indicate that shallow epithermal disseminated mineralization was likely removed by rapid regional uplift and erosion of the Gangdese porphyry belt.