Banded Iron Formation (IMAGE) University of Alberta Caption Banded iron formations, such as this one pictured in Western Australia, precipitated out of the Earth's early oceans billions of years ago, and are providing new clues to the evolution of ancient seawater and the microbes that inhabited it. Credit Tom Price Usage Restrictions With credit to Tom Price. License Licensed content Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.