The Sungun porphyry copper deposit that intruded Eocene volcanosedimentary and Cretaceous carbonate rocks is hosted in a diorite/granodioritic to quartz-monzonitic stock. Copper mineralization is esentialy associated with potassic and less sericitic alteration. Based on the fluid inclusion and isotopic data from oxygen and sulfer, show that main copper mineralization at Sungun occurred in the temperature range of 300-400oC (with the mode of 360oC ).These data also indicate that the hydrothermal system involved both magmatic and meteoric waters, and boiled extensively. In this research, thermodynamic data are used to delineate the stability fields of alteration and ore assemblages as afunction of fS2 fO2 aCl- and pH (in the fixed temperature of 3600C and the pressure of 500 bars) for the chalcopyrite dissolution and deposition. During potassic alteration (>450oC)copper solubility is calculated to have been >50,000ppm, whereas the copper content of the initial fluid responsible for ore deposition is estimated from fluid inclusion data to have been 1200-3800ppm. This indicates that the fluid was initially undersaturated with respect to chalcopyrite, which agrees with the observation that veins formed at T >400oC and contain molybdenite but rarely chalcopyrite. Copper solubility drops rapidly with :decreasing temperature, and at 400oC is approximately 1000 ppm, within the range estimated from fluid inclusion data. At temperatures less than 350 or 360oC ,the solubility drops to < 25 ppm. These calculations are consistent with observations that the bulk of the chalcopyrite deposited at Sungun is hosted by veins formed at approximate temperatures of 360±60oC. Other factors that may reduce chalcopyrite solubility are increases in pH, and decreases in fO2 and aCl-. Based on the calculations done in this paper, it is proposed that the Sungun deposit formed partly in response to the sharp temperature decrease and pH increase that accompanied boiling, and partly as a result of the additional heat loss, increase in pH and decrease in aCl which occurred as a result of mixing of acidic Cu bearing magmatic waters with cooler meteoric waters of lower salinity and near-neutral pH.