>>717698115
20 hours of this was just walking and prospecting in the 4 cardinal directions around my base to find hematite btw.
I found enough gold and silver to make full black bronze armor in that time, and enough meteorite to make an anvil, and full plate.
Iron ores are some of the rarest in the game - although to be fair the first story area spawns a small amount of it, although I doubt its enough to even make an anvil.