The banded iron ore mineralization at Ero was investigated using aeromagnetic, resistivity and induced polarization (IP) methods with the aim of characterizing the deposit. Analysis of the aeromagnetic data involved the application of reduced-to-equator transformation, derivative filters, analytic signal and source parameter imaging techniques. Computer modelling of some of the identified anomalies was undertaken. The electrical resistivity and IP methods helped in discriminating between the iron ore and the host rock. The results showed that the banded iron formations (BIFs) were characterized by spherical analytic signal anomalies ranging from 0.035 nT/m to 0.06 nT/m within the granite gneiss and magnetic susceptibility of 0.007-0.014 SI. The iron ore had low chargeability (0.1-5.0 msec) and resistivity (1.5 × 102 to 2.5 × 103 Ωm). Structural features trending in the NE-SW, E-W, and NW-SE were identified, suggesting that the area had undergone many episodes of tectonic events. Depth to the BIF varied from the surface up to about 200 m. The chargeability response of the iron bodies suggested an average grade of 20%-40%, making the prospect for economic exploitation attractive.