The reprocessing of tailings can have economic and environmental benefits compared to the processing of primary ore deposits. In this paper we present the characterization of a tailings dam in southern Chile by means of mineralogical and geochemical investigations, focusing on sphalerite and trace elements with the aim to investigate a potential reprocessing. The assessment is followed by a flotation study, focusing on the recovery of sphalerite with a high selectivity towards sulfidic and non-sulfidic gangue minerals. An in-depth analysis of a selected test based on mineral liberation analysis data is used to refine the liberation, concentration and flotation weighting function for future investigations.