Scientists at the Australian National University might have found one of the earliest stars to have formed in the Universe. The star, called HE 1327-2326 has the lowest level of Iron found in any star, and was discovered by Anna Frebel and her team (findings published in the journal Nature). Since heavier elements such as Iron are supposed to have (mostly) formed through supernovae explosions, higher concentrations of Iron are found in successive generation of stars. This star was observed using the Japanese Subaru telescope (8 meters), and found to be twice as iron poor as the previous record holder.

The first star (Courtesy: STSCI)The Japanese telescope has other impressive observations under its belt; it recently found one of the most distant galaxies. This new star-find is crucially important, as it provides the crucial evidence of the time when the very first stars formed after the Big Bang. The star will be used to trace the development of elements in the early Universe, to see if the current theoretical models regarding creation of elements are accurate. Such models are often derived using particle accelerator experiments, and it is awe-inspiring to see the domain of the large (stars, galaxies) and of the small (fundamental particles) come together in this way :).
The star also has abnormally high levels of Carbon, Strontium, and Nitrogen. Another interesting feature is that little (if any) Lithium is found in the star. This is higly unusual, as Lithium is one of the lightest elements (Atomic Number = 3), and relatively newer stars have more Lithium content, and follow theoretical models closely.
Explanations? It could very well be that the ancient cloud of gas that formed the star was rich in elements heavier than Hydrogen, Helium, and Lithium. But it is very unlikely; the more likely scenario is that the star was formed relatively early, and is one of the true first generation stars.