This project is to determine the origin of magnetite deposits at El Laco, Chile through a detailed field and isotopic study. The results will be used to develop a genetic and exploration model for the origin of REE-enriched iron oxide deposits worldwide. The apparent contrast in size and tectonic setting of Proterozoic and Phanerozoic deposits of this class raises the larger issue of tectonic setting and crustal evolution in the formation of large- scale mineralizing systems, and relates this project to the fundamental question of what it is that makes a world-class ore deposit.