The Kolumbo active volcano, in the vicinity of Santorini in Greece, forms on a thin continental crust and host a Zn-Pb-Ag-Au epithermal-like mineralization. The Kolumbo volcano is a unique site where both source and sink mechanisms can be simultaneously studied and compared. The tight interplay between magmatism and hydrothermalism allow to better understand metal fluxes during arc magmatism, with important implications for the formation of VMS, epithermal and porphyry deposits.