Highlights

  • A maiden Mineral Resource of 2.8Mt at 1.7 g/t Au for 153,200oz was declared at the Coolgardie gold projects.
  • A Scoping Study confirmed a capital-lite DSO pathway at Kangaroo Hills, with a pre-tax NPV8 of A$220.8M.
  • Gold tenure was expanded to more than 1,100km² with 18 new tenements at Kal East.
  • Cash was A$3.81 million at 30 September 2026, with no debt.

Ore Resources Ltd (ASX:OR3) has released its quarterly activities report for the period ended 30 September 2026. The gold and lithium explorer in Western Australia's Eastern Goldfields declared its first gold resource and confirmed a development pathway for its lithium project.

Coolgardie Gold Resource and Exploration

Ore declared an initial Mineral Resource of 2.8Mt at 1.7 g/t Au for 153,200oz, with the Forrest prospect hosting 147,400oz. Most contained ounces are within 100m of surface. The company also reported a conceptual Exploration Target of 200,000 to 400,000oz in addition to the resource.

Aircore drilling confirmed the 6.2km Miriam Shear Zone as an under-explored gold system, and hole BEAC115 at Burbanks East returned 4m at 4.29 g/t Au from 44m. Ore exercised an option to acquire six tenements next to Miriam, including the Devils Playground prospect. A 3,000m aircore program began at Avoca.

Kangaroo Hills Lithium

A Scoping Study released on 26 August 2026 confirmed a capital-lite direct shipping ore pathway at Kangaroo Hills. Key outcomes included capital costs of A$24.9M, a pre-tax NPV8 of A$220.8M and a payback period of four months over a 16-month mine life. The company noted that no Ore Reserve has been declared.

A maiden resource of 3.10Mt at 1.01% Li2O was reported in July 2026. Ore is in talks with strategic and offtake partners and is targeting a final investment decision in mid-CY2027, subject to approvals, funding and market conditions.

Kal East and Financial Position

Ore staked 18 tenements at Kal East, expanding its landholding by more than 400km² and taking total gold tenure above 1,100km². An initial 3,000m aircore program is planned for November and December 2026.

Cash was A$3.81 million at quarter end, with no debt. The Appendix 5B estimates 1.4 quarters of funding, and management said no immediate capital raising is proposed. CEO Nick Rathjen described the Miriam resource as a substantial achievement.

Key Takeaways

  • Ore has declared its first gold resource, mostly near surface.
  • The Kangaroo Hills Scoping Study supports a low-capital lithium development path.
  • Tenure expansion adds new gold exploration ground.
  • The company is debt-free but has a short estimated funding runway.