@silverfox976,
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,
goethite, lepidocrocite).
They have ornge and yellow streaks too.
If you smack an break one, does it show a fibrous structure??