All the recommendations to ...

All the recommendations to aerate to convert ferrous iron to ferric and settle are good but when the ferric hydrolyzes to Fe(OH)3, you may see a pH drop as this reaction produces hydrogen ions.  If the bore water is well-buffered with bicarbonate alkalinity, no problem.  If not, polishing (post Fe settling) with an open channel or up-flow pond filled with limestone might be necessary.  

Consider also "constructed wetlands" that are sized based on metal loading.  Mother Nature has been using this process for billions of years. 

For net alkaline water, a sizing factor based on 10 grams of iron removal per day per square meter (gdm) of wetland water surface is a good benchmark value.   But iron removal is a first order kinetic reaction; the more iron present, the more efficient its removal will be on a gdm basis.  The iron removed in this way will also sequester arsenic very effectively.  If manganese is also present in the bore water, additional aeration and retention time in the wetland will precipitate MnO2 - in essence a natural green sand which will scavenge many other metals.  I posted a 2013 paper on this topic on the ResearchGate website.

Iron has to be very low for manganese removal to occur and the Mn gdm values are much lower than iron.  As a first step, I recommend calculating the grams of iron being produced by your well in a day and dividing by 10 gdm; the resulting value will be the amount of wetted surface in your "conceptual" wetland.  Hopefully, you will have enough land area to meet your iron removal goal.  Of course, any design should be based on well-designed bench and pilot scale test results.  

The best aspect of the passive treatment technology is that it works without chemicals or electricity (if you have enough land) and your water chemistry is favorable.  Good luck.  J. Gusek.