The Petaquilla gold mine in Panama was abruptly closed without restoring the site. The objective of this study is to assess mine soils from a geochemical perspective, identify potential contaminants, and conduct a human health risk assessment (HHRA). Soil samples were analysed to determine pH, EC, OM, texture, hydrocarbons (TPHs), enzymatic activity (DHA), and the following potentially toxic elements (PTEs): As, Ba, Cd, Cu, Hg, Sb, Pb and Zn. The Igeo, PLI and HHRA indexes were evaluated. The Igeo indicates that the processing zone has atypical values of Cu (1.47), indicating moderate pollution (1 < Igeo ≤ 2), Zn (3.80), indicating strong pollution (3 < Igeo ≤ 4), and Pb (7.62), indicating extreme pollution (Igeo > 5), with enrichment due to mining activity. The PLI map shows that the affected areas are surrounding the Molejon River (1.62) and the processing zone (1.21), which are slightly contaminated (1 ≤ PLI < 2), and one site in the processing zone with moderate to considerable contamination (PLI ≥ 3) at the warehouse (6.07). Regarding TPHs, the processing area in front of transformer (54,844.47 mg kg−1) and the workshop entrance (2045.26 mg kg−1) have values above industrial use (620 mg kg−1) due to visible hydrocarbon spills. In terms of HHRA, the non-carcinogenic risk associated with exposure to PTEs exceeds the reference threshold for both children and adults under a residential exposure scenario, whereas the non-carcinogenic risk for TPHs remains below the acceptable limit. Regarding carcinogenic risk, exposure to Pb and As remains within acceptable limits for both receptors. With a view to restoring the mine’s soil, the processing area and the workshop entrance are the first areas that need to be addressed.