Masses vary from all franklinite to all magnetite. It is black and opaque, with varying degrees of metallic to submetallic luster. No physical or optical data exist. Local material has not been much studied, except as an indirect and often accidental result of studies of franklinite. The Furnace Magnetite Bed lies between the west limb of the orebody and the underlying Cork Hill Gneiss.
Magnetite also occurs as lamellar aggregates in calcite and in breccias from the Buckwheat Open Cut.
Magnetite is commonly found in minor amounts in some sulfide assemblages and similarly in the nickel-arsenide assemblage. It is likely much more common at both deposits than has been recognized to date.