Mineral alteration and fluid inclusion studies of drill cuttings and core samples indicate that the sedimentary basement rocks and the volcanic rocks associated with Tulancingo-Acoculco Caldera Complex have been the site of two distinct and major hydrothermal events. The complex, located in the eastern portion of the Trans-Mexican Volcanic Belt, is formed by the Pliocene Tulancingo Caldera and the younger (Pleistocene) Acoculco Caldera, which developed within the older depression. The volcanic rocks are underlain by Cretaceous sedimentary rocks of the Sierra Madre Oriental. The earliest important hydrothermal event occurred during the emplacement of Mid-Tertiary granitic intrusions that metamorphosed the sedimentary rocks; these intrusives are not exposed at the surface. However, granitic rocks were encountered at the bottom of exploratory borehole EAC-1, drilled within the Caldera Complex. The second main event occurred during the formation of the Tulancingo and Acoculco Calderas. Both episodes lead to secondary mineralization that reduced the permeability of the reservoir rocks. A possible third hydrothermal event may be associated with the recent magmatic activity within the Acoculco Caldera. Thermal logs from well EAC-1 display a conductive thermal gradient with maximum temperatures exceeding 300 degrees C at 2000m depth. Although there are no active thermal springs in the area, there is extensive fossil surface hydrothermal alteration and cold gas discharges with high He(3)/He(4) ratios. (C) 2009 Published by Elsevier Ltd.