1) The mineral deposits are the base resources of materials used in building and environmental engineering applications, especially available locally. Two wells of volcanic tuff deposits in the Khmelnytsky region of Ukraine were investigated in this regard. (2) Physical-mechanical, chemical, and mineralogical analyses of the core samples were carried out. (3) The tuff samples were characterized by visible colour, low compressive strength (4.34–11.13 MPa), and high water absorption (30%). The dominant minerals of the upper horizon were chlorite, pyroxene, kaolinite, quartz, hematite, and calcite, while those of the lower horizon included analcime, quartz, hematite, and calcite. (4) The studied volcanic tuffs seem to be only partly useful for construction applications, and considering their visible colour, the exterior decoration of engineering objects could be possible. The peculiarity of the minerals of the upper horizon is that their crystals consist of Fe2+. An analysis of existing scientific data made it possible to say that these minerals can be considered as an alternative to expensive metallic iron in reducing the toxicity of chromium, uranium, and halogenated organic compounds. The significant presence of hematite allows the application of tuffs to technologies of water purification from As5+, As3+, Cr6+, Cr3+, U6+, Sb5+, and Se4+ oxyanions