Does finding hematite on top of the ground an indicator for placer gold? Also white bleached like rocks small to large mostly rounded in same area. GeologyHub Does finding hematite on top of the ground an indicator for placer gold? Also white bleached like rocks small to large mostly rounded in same area. Leave an answerCancel replyYou must login to add an answer.Continue with Googleor use Username or email* Password* Remember Me! Forgot Password? Continue with Google Related Questions Placer deposits form when? why would it be important for a miner to know about the properties of real gold and fool’s gold? What are the methods of gold exploration How is gold made in soil? What is the difference between resource and reserve in geology? iron pyrite is commonly called “fool’s gold” because it looks like real gold, but it is not valuable. both fool’s ...