An efficient process for the continuous preparation of calcium thiosulfate (CaS2O3) from lime sulfur, through oxidation is described. The process involves oxidizing calcium polysulfide intermediate in a series of reactors to produce calcium thiosulfate as a clear liquid in high concentration with minimal byproducts. The process results in the complete destruction of polythionates, permitting the calcium thiosulfate produced to be useful in certain leaching processes for precious metals. The invention further makes it possible to recycle the process water from the leaching process for use as a raw material reactant in the process for calcium thiosulfate production.