Highlights

  • Ore Resources estimated 2.8 million tonnes at 1.7 g/t gold for 153,200 ounces at the Miriam deposits, its maiden resource.
  • About 35 per cent of contained ounces are Indicated, and the whole estimate lies within roughly 220 metres of surface.
  • A conceptual exploration target of 200,000 to 400,000 ounces covers Forrest extensions, Miriam regional prospects and the Avoca project.
  • Aircore drilling is under way at Avoca, and reverse circulation drilling at Forrest and Burbanks Monarch starts within weeks.

A maiden resource arrives with a bigger ambition attached. Ore Resources Limited (ASX:OR3) said on 28 October 2026 that it has estimated an initial Mineral Resource of 2.8 million tonnes at 1.7 grams per tonne gold, for 153,200 ounces, at its Miriam gold deposits near Coolgardie, Western Australia. Alongside it, the company released an exploration target of 200,000 to 400,000 ounces across the Coolgardie Gold Projects, which it describes as conceptual in nature.

The resource in detail

The estimate is reported under the JORC Code (2012 Edition) at a 0.5 gram per tonne cut-off within an optimised pit shell at a gold price of A$7,000 per ounce, with a 95 per cent metallurgical recovery assumption and pit wall angles of 40 to 50 degrees.

The Forrest prospect hosts most of the total, with 940,000 tonnes at 1.8 grams per tonne (53,370 ounces) Indicated and 1.75 million tonnes at 1.7 grams per tonne (94,030 ounces) Inferred. The Canyon prospect adds 110,000 tonnes at 1.7 grams per tonne for 5,800 ounces, all Inferred. Most ounces sit in the upper 100 metres.

The estimate draws on 106 drill holes totalling 14,216 metres, from a database of 1,152 holes. Forrest drilling is spaced at 25 to 30 metres by 50 to 60 metres. The company used ordinary kriging with 12 lode wireframes at Forrest and three at Canyon, with grades capped at 15 to 30 grams per tonne. The independent Competent Person is Shaun Searle of Ashmore Advisory.

The exploration target

The target covers three areas. Forrest depth and strike extensions are put at 1.55 to 1.9 million tonnes at 1.5 to 2.5 grams per tonne, for 75,000 to 150,000 ounces. Miriam regional prospects, including Canyon, Jungle, Devils Playground and Burbanks Monarch, are put at 1.8 to 2.35 million tonnes at 1.3 to 2.0 grams per tonne, also 75,000 to 150,000 ounces. The Avoca Gold Project, on the Kunanalling Shear Zone, is put at 1.2 to 1.55 million tonnes at 1.3 to 2.0 grams per tonne for 50,000 to 100,000 ounces.

The company stated that there has been insufficient exploration to estimate a Mineral Resource over these areas and that it is uncertain whether further exploration will result in one.

Tenure, metallurgy and caveats

Forrest is held on prospecting licences P15/6137 and P15/6138, and the company has acquired Mining Lease M15/11 to test southern extensions at Canyon. The Miriam tenements lie within the Kangaroo Hills Timber Reserve, where a Conservation Management Plan permits conditional access. The company knows of no impediments, and a Heritage Project Agreement is in place.

Metallurgical testing has not yet been carried out on Miriam material. The 95 per cent recovery assumption is drawn from neighbouring deposits.

Next steps

Reverse circulation drilling at Forrest and Burbanks Monarch is due to start within weeks, and first-pass drilling at Mt Monger in the Kal East area follows later in the December 2026 quarter. Results are expected across the fourth quarter of 2026 and the first quarter of 2027.

Ore Resources is assessing commercial pathways for the resource, noting processing options within trucking distance of several facilities, and plans metallurgical testing and further resource growth.