Ore Resources (ASX: OR3) reported substantial drilling success in lithium and gold at its Coolgardie projects, confirming extensions at Kangaroo Hills lithium pegmatites and Forrest gold system, while expanding landholdings and advancing development studies.
- RC drilling extends Big Red and Potoroo lithium pegmatites
- Phase 4 gold drilling confirms 1km strike and 250m depth at Forrest
- New tenure acquisitions expand Coolgardie and Kal East gold projects
- Diamond drilling supports metallurgical studies and development pathways
- Strong balance sheet with A$6.8 million cash and no debt
Lithium Drilling Unlocks Kangaroo Hills Extensions
Ore Resources has successfully extended lithium mineralisation at its Kangaroo Hills Lithium Project, with a recent 3,300m Reverse Circulation (RC) drilling campaign confirming significant strike extensions at the Big Red and Potoroo pegmatites. Infill drilling at Big Red demonstrated consistent grades and widths over a 500m strike, highlighted by intercepts such as 34m at 1.11% Li2O including 14m at 1.63% Li2O. Step-out drilling further north revealed new mineralisation zones, underlining the system's open-ended potential.
At Potoroo, the pegmatite was extended 50m north and 90m west, with grades around 1% Li2O, continuing its north-south strike. This drilling success has prompted Ore to expand its lithium exploration focus, with diamond drilling now underway to collect metallurgical and geotechnical samples, and a subsequent 3,000m RC program planned to follow up on Big Red, Potoroo, and new targets at the Miriam Lithium Project. These activities are designed to underpin economic studies evaluating export Direct Shipped Ore (DSO) and domestic sales options, reflecting a strategic push towards commercialisation.
Gold Drilling Confirms Growing High-Grade System at Forrest
Ore’s Phase 4 gold drilling programme continues to deliver robust results at the Forrest prospect within the Miriam Gold Project. RC drilling confirmed multiple new extensions both along strike and at depth, with standout intercepts including 25m at 2.82 g/t Au from 170m, featuring a high-grade 5m section at 11.22 g/t Au. Diamond drilling further validated that mineralisation is hosted in strongly sheared mafic units associated with the Miriam Shear Zone.
The Forrest gold system now spans approximately 1km in strike length and extends to at least 250m vertical depth, remaining open for further expansion. Complementary geophysical surveys, including Sub Audio Magnetic (SAM) and ground gravity, identified additional untested structural targets, suggesting further upside potential. Regional aircore drilling targeting Burbanks East and other Miriam prospects is ongoing, with assay results anticipated shortly to guide next-phase drilling.
Strategic Tenure Acquisitions Bolster Project Footprint
Ore Resources has significantly expanded its Coolgardie and Kal East gold project footprints through several acquisitions and option agreements. Notably, four contiguous licenses north of Coolgardie were secured, covering the Avoca Prospect along the Kunanalling Shear Zone. A binding option agreement was also executed to acquire six tenements adjacent to Miriam, including the historically drilled Devils Playground prospect and underexplored targets like Bell Bird and Tartan.
In the Kal East region, Ore completed the Randalls Gold Project acquisition by exercising options with Miramar Resources and Wilding Resources, consolidating a substantial landholding with known gold occurrences. The Mount Monger tenure acquisition was also settled, further strengthening Ore’s position in the Eastern Goldfields. These expansions complement the company’s existing tenure and provide a strong platform for future exploration and resource growth.
Corporate Strength and Forward Programmes
Ore Resources maintains a solid financial footing with approximately A$6.8 million in cash and zero debt as of 30 June 2026. The company appointed Alan Tandy as Environmental & Approvals Manager to accelerate permitting activities for its Coolgardie projects. Exploration expenditure for the quarter was A$1.82 million, primarily directed at drilling and evaluation.
Looking ahead, Ore plans to complete diamond drilling at Kangaroo Hills, continue metallurgical and ore sorting test work, and execute further RC drilling at Big Red, Potoroo, and Miriam. For gold, assay results from regional aircore drilling are expected imminently, with follow-up drilling planned at Forrest and regional targets. Technical and economic studies targeting development pathways, including DSO and domestic sales, are scheduled for completion in the second half of 2026.
Bottom Line?
Ore Resources is building on strong drilling momentum with strategic tenure growth and advancing development studies, positioning itself for potential near-term lithium project commercialisation and ongoing gold resource expansion.
Questions in the middle?
- Will upcoming assay results from Miriam and Burbanks East confirm new gold discoveries to extend Ore’s resource base?
- How will the economic studies influence Ore’s decision between export DSO and domestic sales for Kangaroo Hills lithium?
- Can Ore effectively delineate the high-grade shoots at Forrest to unlock further resource upgrades?