hematite is a good assumption to start with. Since you found it in association with a MAgnetite ore body, it could be a kind of pseudomorphic form like Martite after the Magnetite drystals (Im not sure on the streak of that one but I can give you the d spacing if youve an X ray handy) The various 'bog ores" can have layering of different components (limonite,
They have ornge and yellow streaks too.
If you smack an break one, does it show a fibrous structure??