Iron Vein

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An Iron Veins are mined to obtain Iron Ore and other metals and gem stones.

They can be randomly found (though many respawn in the same place on a 15-20 minute cycle), planted with a Shining Vein Seed, or mined from the Excavation Site.

It costs 10 labor to mine an iron vein, which will produce 3-4x 
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Iron Ore and 0-4x 
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Raw Stone. There's a chance you will get some pure iron ore as well.

There's also a chance, - about 15-20%, but influenced by your mining proficiency, that a fortuna vein will appear after you have mined an iron vein. It costs 20 labor to mine a fortuna vein.

As fortuna veins seem to be the only way to obtain ores for more exotic metals - copper, silver, gold etc... - it is likely that iron ore itself will end up being regarded as a useful by-product of mining for those metals (and therefor fairly cheap) rather than as a valuable asset in its own right.