Ore Resources finds a fast route to a 153,200-ounce Miriam gold resource

Miriam delivers Ore Resources’ first gold resource

Ore Resources Ltd (ASX:OR3) has established a 153,200-ounce foothold in Western Australia’s Goldfields, declaring its first gold Mineral Resource Estimate at the Miriam project. The estimate totals 2.8 million tonnes at 1.7 grams per tonne gold, reported at a 0.5g/t cut-off within an optimised pit shell based on a A$7,000 per ounce gold price.

“Forrest MRE – Plan View”

“Canyon MRE – Plan View”

Caption and image © Ore Resources Limited. From “Coolgardie Initial Gold Resource and Exploration Target”, 28 Oct 2026.

The result is concentrated at the Forrest deposit, which contains 2.69Mt at 1.7g/t for 147,400 ounces. Of the overall Miriam resource, 940,000 tonnes at 1.8g/t for 53,370 ounces are classified as Indicated, while the balance is Inferred. Canyon contributes a further 110,000 tonnes at 1.7g/t for 5,800 Inferred ounces.

The timing is notable: Ore says the resource was delivered little more than 12 months after its first drilling results from Forrest and Canyon. The estimate draws on 1,152 drill holes in the broader database, including 106 RC and diamond holes used to inform the resource. The company also recently completed a Miriam tenure consolidation, creating a contiguous landholding across the wider shear-zone target area.

Shallow ounces support future study work

More than one-third of the reported ounces are Indicated, but the resource’s physical profile is equally important. Most contained gold sits within the upper 100 vertical metres, with the reported resource extending to a maximum depth of about 220 metres at Forrest and 90 metres at Canyon. Ore says the shallow setting may be compatible with open-pit mining, although no mine plan, production schedule or economic study has been announced.

“Forrest Prospect – Cross Section”

“Miriam – Schematic Long Section”

Caption and image © Ore Resources Limited. From “Coolgardie Initial Gold Resource and Exploration Target”, 28 Oct 2026.

Forrest remains open along strike and at depth, and the company says its Exploration Target captures possible extensions to the deposit, as well as the regional Miriam prospects and the separate Avoca project. The target adds 4.55Mt to 5.8Mt at 1.4g/t to 2.3g/t for 200,000 to 400,000 ounces. That figure is conceptual rather than a Mineral Resource, and the filing cautions that further exploration may not convert it into one.

Processing access and drilling provide the next tests

“Coolgardie Gold Projects – Location Map”

Ore points to Miriam’s position within trucking distance of multiple operating processing facilities around Coolgardie and Kalgoorlie, including Greenfields, Three Mile Hill, Mungari, Lakewood, Fimiston, Kanowna Belle and Paddington. It is assessing commercial pathways that could reduce development complexity, but the filing does not identify a processing agreement or commit to a particular route.

The next evidence will come from the drill bit. Aircore drilling is underway at Avoca, with RC drilling planned at Forrest and Burbanks Monarch and first-pass drilling scheduled at Mt Monger in the December quarter. The Mt Monger program forms part of the company’s wider Kal East activity, following its earlier plan for Mt Monger drilling. Results are expected through the fourth quarter of 2026 and first quarter of 2027.

One technical qualification sits beneath the headline numbers: metallurgical test work has not yet been conducted. The resource assumes free-milling material and recoveries above 95% based on neighbouring deposits, while the reported tonnes and grades are estimates with the usual geological uncertainty. Converting a shallow resource into an economic operation will therefore depend on drilling continuity, metallurgy, mining studies and a credible processing pathway.