The great majority of banded iron formations are Archean or Paleoproterozoic in age. However, a small number of BIFs are Neoproterozoic in age, and are frequently, if not universally, associated with glacial deposits, often containing glacial dropstones. They also tend to show a higher level of oxidation, with hematite prevailing over magnetite, and they typically contain a small amount of phosphate, about 1% by mass. Mesobanding is often poor to nonexistent and soft-sediment deformation structures are common. This suggests very rapid deposition. However, like the granular iron formations of the Great Lakes, the Neoproterozoic occurrences are widely described as banded iron formations.