The hematite mineralization under investigation is located 11 km NE of Sarical (Yavu) village of the Yildizeli town (Sivas Province) in central Turkey. The region is within the Central Anatolian Thrust Zone and is comprised of metamorphic units, ophiolitic rocks and overlying Tertiary volcanic and volcanosedimentary rocks in addition to Neogene terrestrial deposits. The mineralization occurs as lenticular or bedded bodies and is composed chiefly of hematite and a lesser amount of goethite. Quartz, calcite, and dolomite are the gangue minerals. Kaolinite and zeolite are the common alteration products. In this study, geochemical and mineralogical investigations were carried out using an X-ray diffractometer analysis (XRD), Raman spectroscopy, and scanning electron microscopy with energy-dispersive spectroscopy (SEMEDX). The V/(V + Ni) ratio increases in parallel to the detritic contribution, and when this ratio is less than 0.60, deposition conditions are said to be anoxic. Considering the V/(V + Ni) ratio and Ceanom values of the studied samples, we suggest that the environment is both oxic and anoxic in character. The overall assessment of the field observations, mineral paragenesis, major, trace, and rare earth element (REE) data indicates that the Sarical hematite mineralization is of a hydrothermal-sedimentary type.