In addition to igneous rocks, magnetite also occurs in sedimentary rocks, including banded iron formations and in lake and marine sediments as both detrital grains and as magnetofossils. Magnetite nanoparticles are also thought to form in soils, where they probably oxidize rapidly to maghemite.
Magnetite is said to provide stability, balancing the intellect with the emotion as well as bringing a balanced perspective and trust in your own intuition. It attracts love, commitment and loyalty. It alleviates negativity such as fear, anger and grief.