It is difficult to delineate the exposed iron ore-bearing zones in a wide coverage area using a conventional field-based survey approach. In contrast to the conventional approach, a satellite remote sensing-based approach can be an effective and reliable method for such investigations. The current study aims to demonstrate a new band rationing approach for the detection and delineation of exposed iron ore-bearing zones in a mining region located in the boundary of Jharkhand and Odisha states. The study has chosen five band data [Bands 2 (Blue), Band 4 (Red), Band 5 (NIR), Band 6 (SWIR-1), and Band 7 (SWIR-2)] of the Landsat-8 sensor based on the past studies and spectral analysis. The study results revealed that composite images derived from the three formulated band ratios are equally effective with the existing two methods reported in other studies. Moreover, the high spatial resolution Google Earth imageries demonstrated the effectiveness of band rationing techniques in identifying and delineating exposed iron ore-bearing zones. Though Landsat data has the virtuous potential for delineating the exposed iron ore-bearing zones, high-resolution data is desired for more accurate mapping.