Mount Monger Acquisition Raises Exploration Stakes for Ore Resources

Strategic Expansion in a Proven Gold District

Ore Resources Ltd (ASX – OR3) has taken a significant step forward in its Eastern Goldfields strategy with the acquisition of 29 prospecting licences in the Mount Monger goldfields, Western Australia. This move extends the company's Kal East Gold Project by 43 kilometres of highly prospective ground, located just 40 kilometres southeast of Kalgoorlie, a historic and prolific gold mining hub.

The newly acquired tenure sits adjacent to Vault Minerals’ Mount Monger Operations, which boasts a current resource exceeding 3.8 million ounces of gold. This proximity not only enhances Ore Resources’ landholding but also offers logistical advantages, including access to multiple operating gold processing plants such as Vault Minerals’ Randalls Mill, less than 10 kilometres away, and Black Cat Syndicate’s Lakewood Mill, 40 kilometres distant.

High-Grade Targets and Immediate Exploration Potential

Initial reviews of historical drilling data have identified several promising prospects within the Mount Monger tenure, including Kims, Scotch Star, Rummy, Kess, and Three Emus. Notably, the Kims prospect lies directly along strike from the Daisy-Milano geological corridor and mine, a well-known gold-producing structure. Historical drill intercepts at Kims include 9 metres at 6.25 grams per tonne gold from 9 metres depth and 3 metres at 5.93 grams per tonne from 30 metres, indicating significant high-grade mineralisation close to surface.

Most of the historical drilling comprises shallow aircore and rotary air blast methods, with limited reverse circulation drilling, suggesting that the full extent of mineralisation remains underexplored. Ore Resources plans to apply its proven, low-cost exploration strategy immediately, with target generative work such as detailed geophysical and geochemical data compilation already underway. First-pass drilling of priority targets is expected to commence in the first half of 2026.

Consolidation and Funding Strength

With the acquisition, Ore Resources consolidates the Mount Monger tenure with its existing Randalls Gold Project to form the Kal East Gold Project, now encompassing 740.5 square kilometres of prospective gold ground. This sizeable landholding positions Ore as one of the largest tenure holders in the Eastern Goldfields, a region renowned for its rich gold endowment and established mining infrastructure.

Financially, Ore Resources is well positioned to advance its exploration programs, boasting a robust cash balance of A$10.7 million and zero debt as of December 31, 2025. The acquisition consideration includes A$300,000 in cash, A$500,000 in shares subject to shareholder approval, and milestone payments totaling A$600,000 contingent on the definition of JORC-compliant mineral resources.

Looking Ahead

Ore Resources’ Managing Director and CEO, Nick Rathjen, emphasised the strategic value of the acquisition, highlighting the multiple walk-up drilling opportunities and the potential to unlock further high-grade gold resources along the Daisy-Milano corridor. The company’s exploration focus remains firmly on delivering value through disciplined, cost-effective drilling campaigns, complementing its ongoing work at the Coolgardie Gold Projects.

As Ore Resources embarks on this next phase, the market will be watching closely for drilling results that could validate the historical data and potentially expand the resource base in this prolific gold region.