Known by some, and unknown by most (as of now), a rather decent mining spot was located by a friend and I allowing for easy and productive gathering. It includes around 7-8 iron veins, one magicians box and two treasure chests, therefore it's definitely worth a look and to top it off, looks rather awesome!
Have tried gathering here and was rather productive, although as stated, the spot is known by some. Logging an alt off there at server down in time for sever up will allow for a good iron farm and the cave also includes a pool for fishing so you can get them treasure maps and fish! :-)
It's just north of Gulgrumir so there's a bindstone which is easily accessible. One point to note however is that two of the nodes is positioned outside of the safe zone within the cave and that is the first vein closest to where you enter the cave and there's one that remains deepest towards the end of the cave. Simply be careful if your considering AFK mining at those particular nodes, however apart from that it's a rather safe spot.
Now, how to get there?
Simply, just swim slightly north west of Gulgrumir (I've marked it on the picture I supplied!) and you'll reach a huge cavern. Make sure to swim rather far in to the cavern, as you'll need to descend and then swim forwards. As you descend, you'll end up losing breath providing you're without a potion of water breathing, however this is fine and you'll survive with a couple of stamina to health's and heal self's. You'll end up seeing an opening to the cave containing the ores upon swimming downwards for a small amount of time and simply just head in and the jobs a good'un!
Got a screen shot with the place marked!
Happy farming!