During the 2nd and 1st millennia BCE in the Caucasus region, there was a bloom of different metal production. The melting copper and bronze production in Colchis was developed in the transition period from the Bronze to Iron Ages as well as in the period of the Early Iron Age. The precise analytic methods (SEM–EDX, pXRF, XRD) were applied for the determination of geochemical and mineralogical compositions of iron axes and iron slags from the Dzhankhut site. The mineralogical and chemical composition of the iron axes from ground burial of the 5the and 4the centuries BCE allows conclusions about the production technology and sources of raw materials. It was found that iron alloys are rich in sulfides, such as pyrite, chalcopyrite and bronze alloy prills. The comparison of trace elemental compositions of both bronze and iron slags with the iron axes allows suggestions about using sulfide ore or bronze slags for iron axes making. These investigations of axes showed also non utilitarian use of tools.