Ore Resources Ltd has reported significant high-grade gold intercepts at its Miriam Project, extending mineralisation at Forrest to 850 metres. The company also secured binding options to acquire the Randalls Gold Project and raised A$7.5 million to fund its ambitious 2026 exploration plans.
- Forrest prospect gold mineralisation extended to 850m strike length
- Phase 2 and 3 drilling deliver multiple high-grade gold intercepts
- Binding option agreements signed to acquire Randalls Gold Project
- A$7.5 million raised through oversubscribed equity placement
- Well-funded with A$10.7 million cash and zero debt to advance 2026 drilling
Strong Drilling Results at Miriam's Forrest Prospect
Ore Resources Ltd (ASX, OR3) has delivered a compelling update for the December 2025 quarter, highlighted by robust exploration success at its Miriam Gold Project in Western Australia's Coolgardie region. The company’s Phase 2 and 3 reverse circulation (RC) drilling programs at the Forrest prospect have confirmed an emerging multi-lode gold system, with mineralisation now extending over 850 metres along strike and remaining open in multiple directions.
Notably, hole FGRC027 returned the highest-grade intercept to date at Miriam, with 12 metres grading 12.18 grams per tonne gold from 48 metres depth. Other significant intercepts include 25 metres at 3.28 g/t Au from 119 metres, including a high-grade 6 metres at 10.76 g/t Au, and multiple oxide and fresh rock lodes that suggest a stacked, sub-vertical gold system. These results build on earlier Phase 1 successes and reinforce the prospect’s potential for substantial resource growth.
Strategic Acquisition of Randalls Gold Project
In a transformative move, Ore Resources signed two binding option agreements to acquire 100% ownership of the Randalls Gold Project, located approximately 65 kilometres east of Kalgoorlie. This acquisition expands Ore’s strategic footprint in the Eastern Goldfields to over 772 square kilometres of highly prospective tenure, including seven tenements covering greenstone belts and key regional structures known for orogenic gold mineralisation.
Preliminary due diligence, including reprocessed aeromagnetic data and surface geochemistry, has identified 19 broad structural gold targets across Randalls South and North, with three high-priority walk-up drill targets at Waterloo, Logan, and Nightcrawler prospects. Historical drilling results at these prospects show encouraging grades, and Ore plans to advance these targets to drill-ready status in 2026.
Capital Raising and Financial Position
Ore Resources strengthened its balance sheet with an oversubscribed equity placement raising A$7.5 million before costs. The placement attracted strong demand from existing shareholders, including Hancock Prospecting, and new institutional investors. Directors participated in the placement, subject to shareholder approval at the upcoming general meeting.
As at 31 December 2025, Ore held approximately A$10.7 million in cash with zero debt, positioning the company well to execute its extensive 2026 exploration programs. These include a planned 3,000-metre Phase 4 RC drilling campaign at Miriam starting in February, alongside regional geophysical surveys and aircore drilling at both Coolgardie and Randalls projects.
Looking Ahead, Exploration and Engagement
Ore Resources is advancing heritage negotiations and environmental surveys to support tenure grants at both Burbanks East and Randalls. The company also launched an interactive investor hub to enhance communication and transparency with shareholders and stakeholders, consolidating updates, videos, and insights in one accessible platform.
Managing Director Nick Rathjen emphasised the company’s momentum, stating that Ore is well-funded and focused on unlocking the full potential of its gold projects in the Eastern Goldfields. With a robust pipeline of news flow and exploration milestones scheduled for 2026, Ore is positioning itself as a notable player in Western Australia’s gold exploration landscape.
Bottom Line?
Ore Resources’ strong drilling results and strategic Randalls acquisition set the stage for a pivotal year of exploration and growth.
Questions in the middle?
- How will Ore Resources prioritise drilling targets across its expanded Randalls tenure?
- What timeline is expected for converting Randalls exploration targets into JORC-compliant resources?
- How might the upcoming shareholder vote on director participation in the placement impact Ore’s capital strategy?