Discovered in 1959, the Filizchay polymetallic deposit is located in the administrative territory of Balakan region, in the basin of the Karabchay River, the right tributary of Balakanchay. This deposit is the largest polymetallic deposit in the region and one of the largest projects of AzerGold. The Filizchay deposit is one of the leading polymetallic deposits in Europe and the world for its reserves. It contains non-ferrous metals such as zinc, silver, copper and lead reserves.

In 2022, the estimated number of underground resources of the Filizchay deposit was increased. While exploiting the deposit, the mineralogical research of ore samples was carried out in the laboratory of Petrolab Co. of Great Britain. The resources of Filizchay were calculated in accordance with the requirements of JORC (Joint Ore Reserves Committee) standards, which is an international classification system for the economic evaluation of mineral deposits. According to the estimation there is a 20 percent increase compared to the indicators on the state balance sheet of 1983. The amount of underground ore resources of the Filizchay polymetallic deposit is 112.71 million tons.