Properties of Oolite and Banded iron formation play an important role in determining the type of rock. Along with Oolite vs Banded iron formation properties, get to know more about Oolite Definition and Banded iron formation Definition. For the ease of understanding, the properties of rocks are divided into physical and thermal properties. Rocks have a variety of properties like hardness, color, specific gravity, fracture, cleavage, luster etc. Know all about physical and thermal properties of Oolite and Banded iron formation.