  The fluorescent 6.4 keV iron line provides information on cool material in
the vicinity of hard X-ray sources as well as on the characteristics of the
X-ray sources themselves. First discovered in the X-ray spectra of the flaring
Sun, X-ray binaries and active galactic nuclei (AGN), the fluorescent line was
also observed in a number of stellar X-ray sources. The young stellar object
(YSO) V1486 Ori was observed in the framework of the Chandra Ultra Deep Project
(COUP) as the source COUP 331. We investigate its spectrum, with emphasis on
the strength and time variability of the fluorescent iron K-alpha line, derive
and analyze the light curve of COUP 331 and proceed with a time-resolved
spectral analysis of the observation. The light curve of V 1486 Ori shows two
major flares, the first one lasting for (approx) 20 ks with a peak X-ray
luminosity of 2.6*10^{32} erg/s (dereddened in the 1-10 keV band) and the
second one -- only partially observed -- for >60 ks with an average X-ray
luminosity of 2.4*10^{31} erg/s (dereddened). The spectrum of the first flare
is very well described by an absorbed thermal model at high temperature, with a
pronounced 6.7 keV iron line complex, but without any fluorescent K-alpha line.
The X-ray spectrum of the second flare is characterized by even higher
temperatures (>= 10 keV) without any detectable 6.7 keV Fe XXV feature, but
with a very strong fluorescent iron K-alpha line appearing predominantly in the
20 ks rise phase of the flare. Preliminary model calculations indicate that
photoionization is unlikely to account for the entire fluorescent emission
during the rise phase.
