Odd magnetics, meteorite?

[Au Hellyeah]

Found this in the river this past weekend and don't know what to make of it. It's a melty blob looking thing, and it appears like there are some metallic crystals in the mix. There are a couple spots of rust, so there's at least a hint of iron but it's mostly non-magentic. If I loosely dangle a neodymium magnet over it I can feel it pull towards the center of the pit area the specimen...kind of like that first hint of force as you move two magnets towards each other, but it's not strong enough for them to stick together, and that's a really strong magnet. It definitely not like anything I've seen in the area before.

Thoughts? Theories?

 

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[chub]

Someone may chime in and say its slag - maybe because of the holes?.Its an interesting find though. Did you find it with a detector? What was the VDI?

Chub

 

[Au Hellyeah]

No, just found it rock hounding around a river. I'm pretty new to all of this, so not familiar with the VDI acronym?

 

[Al D]

Do a specific gravity test

 

[ali1]

Hematite ore

 

[Rocks A Lot]

I agree, hematite nodule