Ore Resources (ASX:OR3) Declares 153,200oz Miriam Gold Resource and 200,000-400,000oz Exploration Target

Sonal Goyal

28 October 2026 01:11 PM AEDT

Ore Resources (ASX:OR3) Declares 153,200oz Miriam Gold Resource and 200,000-400,000oz Exploration Target

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Key Highlights

The initial Miriam resource totals 2.8Mt at 1.7 g/t Au for 153,200 ounces at a 0.5 g/t Au cut-off.
Indicated Resources make up 0.94Mt at 1.8 g/t Au for 53,370 ounces, or 35% of the total, all within the Forrest deposit.
The Coolgardie Exploration Target is 4.55 to 5.8Mt at 1.4 to 2.3 g/t Au for 200,000 to 400,000 ounces, in addition to the resource.
The resource sits entirely within 220 metres of surface and is based on 106 RC and diamond holes totalling 14,216 metres.

Ore Resources Ltd (ASX:OR3) has declared an initial gold Mineral Resource Estimate at its Miriam project in the Coolgardie district of Western Australia, along with an Exploration Target for the wider Coolgardie Gold Projects. The Miriam estimate stands at 2.8 million tonnes at 1.7 g/t gold for 153,200 contained ounces, reported at a 0.5 g/t cut-off. It arrives a little over 12 months after the first drilling results from the Forrest and Canyon prospects.

Anatomy of the Miriam Resource

The Forrest deposit holds most of the estimate, at 2.69Mt at 1.7 g/t Au for 147,400 ounces. Of that, 940kt at 1.8 g/t Au for 53,370 ounces is classed as Indicated, with the remaining 1.75Mt at 1.7 g/t Au for 94,030 ounces in the Inferred category. Canyon contributes 110kt at 1.7 g/t Au for 5,800 ounces, all Inferred. Across the project the Inferred portion totals 1.86Mt at 1.7 g/t Au for 99,800 ounces.

The estimate is reported within an optimised pit shell using a gold price of A$7,000 per ounce, 95% metallurgical recovery and pit wall angles of 40 to 50 degrees. It extends to a maximum depth of about 220 metres at Forrest and 90 metres at Canyon, and most contained ounces lie within 100 metres of surface. Forrest and Canyon are about 750 metres apart along the Miriam Shear Zone.

The database holds 1,152 drill holes, of which 665 plot within the current tenure. The estimate itself draws on 106 RC and diamond holes for 14,216 metres. Ashmore Advisory compiled the estimate under the JORC Code (2012). Selected Forrest intersections include 12m at 12.18 g/t Au from 48m, 24m at 4.04 g/t Au from 37m and 33m at 2.80 g/t Au from 35m.

The Coolgardie Exploration Target

The Exploration Target, prepared by Ashmore Advisory, covers 4,550 to 5,800kt at 1.4 to 2.3 g/t Au for 200,000 to 400,000 ounces, separate from the resource. It is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource. Forrest depth and strike extensions account for 75,000 to 150,000 ounces, the Miriam regional prospects for 75,000 to 150,000 ounces, and the Avoca Gold Project for 50,000 to 100,000 ounces.

The regional prospects are Jungle, Devils Playground and Burbanks Monarch, along with Canyon extensions. Regional aircore drilling in the June 2026 quarter found anomalous gold along the 6.2km Miriam Shear Zone, and the acquisition of Mining Lease M15/11 allows testing of southern extensions at Canyon. Avoca covers 6.7 km2 along the Kunanalling Shear Zone, north of Miriam, and includes a historical intercept of 4m at 14.04 g/t Au from 36m within 44m at 1.84 g/t Au from 16m. A mineralised trend about 300 metres long in its south remains sparsely drilled.

Drilling Programs and Processing Access

Aircore drilling is under way at Avoca, and RC drilling is scheduled to begin at Forrest and Burbanks Monarch in the coming weeks. First-pass drilling at Mt Monger, part of the Kal East Gold Projects, is planned later in the December quarter, with results due across the fourth quarter of calendar 2026 and the first quarter of 2027.

Miriam lies within trucking distance of the Greenfields, Three Mile Hill, Mungari, Lakewood, Fimiston, Kanowna Belle and Paddington processing facilities, as well as proposed hubs at Bullabulling and Black Swan. Ore Resources is assessing commercial pathways for the resource that could reduce development complexity. Managing Director and CEO Nick Rathjen said the estimate validates the company's low-cost exploration approach.

Where the Declaration Leaves Ore Resources

Ore Resources moved from the May 2025 acquisition of the Miriam gold rights to a JORC-reported resource in about 17 months. The inventory now stands at 153,200 ounces, 35% of it Indicated and all of it within 220 metres of surface, with a further 200,000 to 400,000 ounces outlined as a conceptual Exploration Target across Miriam and Avoca.

FAQs

Q: How large is the initial Miriam gold resource?

A: It totals 2.8Mt at 1.7 g/t Au for 153,200 contained ounces at a 0.5 g/t Au cut-off, with 940kt at 1.8 g/t Au for 53,370 ounces in the Indicated category.

Q: Which deposit holds most of the ounces?

A: Forrest holds 2.69Mt at 1.7 g/t Au for 147,400 ounces, while Canyon contributes 110kt at 1.7 g/t Au for 5,800 ounces, all Inferred.

Q: What does the Exploration Target cover?

A: It is 4.55 to 5.8Mt at 1.4 to 2.3 g/t Au for 200,000 to 400,000 ounces across Forrest extensions, Miriam regional prospects and the Avoca Gold Project. It is conceptual and does not form part of the resource.

Q: What gold price and recovery underpin the resource?

A: The estimate uses an optimised pit shell at A$7,000 per ounce with 95% metallurgical recovery and pit wall angles of 40 to 50 degrees.

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