Ore Resources’ Tenure Consolidation Raises Stakes at Miriam Gold Project
Ore Resources has acquired an additional mining lease within its Miriam Gold Project, consolidating tenure over the promising Canyon prospect. The company plans an extensive 30,000m drilling program in 2026 to further explore this fertile gold system.
- Acquisition of M15/11 mining lease for A$100,000 in shares
- Lease located within 1.7km Canyon gold anomaly in Miriam Project
- Previous drilling confirmed significant gold intercepts at Canyon
- Planned 30,000m Phase 4 drilling program including Aircore drilling
- Strong balance sheet with A$10.7 million cash and zero debt
Strategic Tenure Consolidation
Ore Resources Ltd (ASX – OR3) has taken a decisive step to strengthen its foothold in Western Australia's prolific goldfields by acquiring the M15/11 mining lease within its 100%-owned Miriam Gold Project. This 9.7-hectare lease sits centrally along the 1.7-kilometre Canyon prospect, a key focus area within the broader Coolgardie Gold Projects portfolio. The acquisition, settled through the issuance of A$100,000 worth of Ore shares, is subject to shareholder and regulatory approvals expected at the upcoming general meeting.
Building on Promising Drilling Results
The Canyon prospect has already demonstrated encouraging signs of gold mineralisation through previous Phase 1 and Phase 2 Reverse Circulation drilling campaigns. Notable intercepts include 18 metres at 0.92 grams per tonne gold from 28 metres depth, and several other significant zones exceeding 1 gram per tonne over multiple metres. These results confirm a fertile gold system aligned with the regional Miriam Shear Zone, a known mineralised structure extending over 6.2 kilometres.
Ambitious Exploration Ahead
Ore Resources plans to leverage this newly consolidated tenure by initiating detailed target generation work to identify primary gold-hosting structures. This will feed into a dedicated Aircore drilling program, part of a broader 30,000-metre Phase 4 drilling campaign scheduled for 2026. The program aims to systematically test the extensive strike length of the Canyon anomaly, which remains largely untested beyond the initial 200 metres explored to date.
Financial Strength Fuels Growth
Backing these exploration ambitions is Ore Resources’ robust financial position. As of 31 December 2025, the company holds a cash balance of A$10.7 million with no debt, providing ample runway to advance its exploration programs without immediate capital constraints. This financial strength underpins the company’s confidence in unlocking further value from its Coolgardie Gold Projects.
Looking Forward
Managing Director Nick Rathjen emphasised the strategic importance of the lease acquisition, noting it as a key lever for value growth within the Miriam project. With a clear north-south mineralised system now better defined, the company is well positioned to extend drilling along strike and deepen its understanding of the gold system. The upcoming drilling campaigns will be closely watched by investors eager to see if Ore Resources can convert its exploration promise into tangible resource growth.
Bottom Line?
Ore Resources’ tenure consolidation and planned drilling set the stage for a pivotal year in advancing the Miriam Gold Project.
Questions in the middle?
- Will the shareholder meeting approve the share issuance for the lease acquisition?
- How will upcoming drilling results impact Ore Resources’ resource estimates at Canyon?
- What is the potential scale of the gold system along the full 1.7km Canyon strike?
