ok so to clear things up.
Japanese naturl whetstone or JNATS for short are natural stones.
From my research they formed @ 250 milion years ago. Thery are a layered stone formed on the bottom of the ocean from the tests of radiolarites:
http://www.sciencephoto.com/subject/Animals/protozoa/radiolaria
and clay
"
Clays carried by the wind and the remains of microbion called Radiolaria (Phosphoric Acid Calcium CaHPO4) which inhabited the deep sea, accumulated silently and slowly at a rate of approximately 1mm per 1000 years. This accumulation occurred thousands of kilometers away from Japan around present day Hawaii , and resulted in various strata, all with differing characteristics.
Heavier substances such as oxidized iron (Fe2O3) precipitated first and formed the “kawa (the skin)” and the remains of Radiokaria and the clay settled on top of that consisting silica shale. When the ocean was calm the settlings formed stratum that can be used for sharpening stone, and when rough formed “gokudou” stratum which has too many impurities thus cannot be used for sharpening stones.
These are the stratum which were formed by a mix of the remains of Radiolaria and clay, the latter acting as a cutting substance and the former as binding or glue and at the same time absorbent matter of lubricant (water).
" source:
http://www.japan-tool.com/tech_knlg/toishi/Awasedo.html
So i guess the clays carried by the wind could contain volcanic ash....good observation.
The stones i use are high end japanese natural stones from the best mines they had....same quality stones the sword polishers used...but all JNAts in the layer behave similar....they all have this effect on iron...they kind of etch it...i use natural sharpening stones from allover the world and this phenomenon is somehow unique to these Japanese Natural Whetstones....that's why i'm trying to find what makes them tick.
Dont get me wrong...their effect on steel is not a flaw it's what makes them unique and helps them give outstanding finishes on blades that you cant get any other way.
Also another article on them under the SEm microscope.
https://scienceofsharp.wordpress.com/2014/05/28/does-j-nat-slurry-break-down/
and part 2
https://scienceofsharp.wordpress.com/2016/03/29/jnat-slurry-part-2/
the way the steel is treated is of no interest atm to me although it is fascinating.
What hurts me the most is that idont understand if this type of finish is due to the abrasive particles alone or does something in the binder react with the steel to help.