The paper considers the results of the application of dry magnetic separation on samples of ferruginous quartzites of the Kostomuksha ore field, represented by refractory ore, free-milling ore, and their mixture. The assessment of the influence of the ore texture on the technological parameters of dry magnetic separation indicates their insignificant changes: the yield of the non-magnetic product varies from 12.4 to 13.5%, and the Fetotal content in the magnetic product increases by 1.11–1.14 times. A decrease of at least 15% in the number of harmful impurities was found: S by 16.2–17.3%, SiO2 by 15.5–21.1%, and Al2O3 by 39.1–48.4%. The authors have performed a comparative assessment of the granularity of the initial ore and the magnetic product with the measurement of energy consumption, as well as an analysis of the magnetite liberation on particle sizes of less than 2 mm. It was found that due to the release of a non-magnetic product in the amount of 12.3–14.5%, represented by non-magnetite or weakly mineralized rock varieties, energy consumption for the crushing process is reduced by at least 5%. The mineral liberation assessment showed that mainly free magnetite is contained in the −0.4 mm fineness class. It was found that in the magnetic separation product of the refractory ore sample, the amount of liberated magnetite in the size class −1 + 0 mm increases by 12.1% compared to the initial ore sample. For the free-milling ore sample, the opposite trend is observed: a decrease in the amount of free magnetite by 30.9% in the magnetic product. Analysis of the magnetite liberation in the mixture indicates deterioration in the results obtained during the separate crushing of refractory and free-milling ore and a decrease in the amount of liberated magnetite in the magnetic product by 60% compared to the initial ore.