Samples of various ecochemical types of soil were collected in the region of the future accumulation of Lake Bogovina (Serbia). They were analyzed for ten elements using AAS, GFAAS and ICP. Investigation of the nature of association of heavy metals and identification of their substrates was provided by sequential extraction in five steps by successive extraction of soil samples with different mediums. Besides the acid soluble residual phase, most microelements were extracted in the easily and moderate reducible phases. Correlation between manganese and iron from the second and third phase with trace metals from non-residual phases was provided in order to determine their bioavailability. Besides principal component and cluster analysis, the enrichment factors were provided in order to check the impact of anthropogenic factors on trace elements. Most samples contained trace elements mainly from crustal origin with the exception of cadmium.