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Ore Resources Ltd (ASX:OR3) has achieved significant exploration milestones across its Coolgardie and Kal East projects during the June 2026 quarter, marked by successful lithium drilling extensions and multiple gold discoveries. With a robust cash balance of A$6.8 million and no debt, the company is progressing near-term lithium commercialisation strategies while expanding its gold exploration footprint in Western Australia's Eastern Goldfields region.
Key Points
- Ore Resources Ltd (ASX:OR3) focuses on lithium and gold exploration in the Coolgardie region and Eastern Goldfields of Western Australia.
- The company completed 20 reverse circulation holes totaling 3,300 metres at the Kangaroo Hills Lithium Project, successfully extending mineralisation at both Big Red and Potoroo pegmatite systems.
- Phase 4 gold drilling at the Forrest prospect yielded notable results, including 25 metres at 2.82 g/t gold, with the prospect now extending approximately 1 kilometre in strike length and 250 metres in vertical depth.
- Ore Resources expanded its Coolgardie landholdings to over 80 square kilometres and acquired additional Eastern Goldfields tenure, including the Randalls Gold Project and Mount Monger, positioning itself for ongoing exploration through 2026.
Kangaroo Hills Lithium Project Sees Mineralisation Growth at Big Red and Potoroo Pegmatites
In the June 2026 quarter, Ore Resources completed an extensive reverse circulation drilling program at the Kangaroo Hills Lithium Project, comprising 20 holes totaling 3,300 metres. This campaign included step-out and infill drilling to test lateral and depth continuity of the Big Red and Potoroo pegmatite systems. Results confirmed new extensions at both pegmatite systems, highlighting the project's scale and growth potential.
Infill drilling at Big Red verified consistent grades and widths over a 500-metre northeast to southwest strike. The company noted further work is needed to better define higher-grade zones and identify thickening mineralisation northwards. The Potoroo pegmatite remains open with a north-south strike orientation, indicating further growth potential. These outcomes demonstrate lithium mineralisation continuity across Kangaroo Hills and support accelerated development activities.
Diamond Drilling Targets Metallurgical and Geotechnical Samples for Lithium Project Advancement
Ore Resources initiated diamond drilling at Kangaroo Hills during the quarter to collect metallurgical and geotechnical samples supporting key technical studies. These samples will aid in evaluating ore sorting opportunities and assessing development feasibility.
The company reported progressing assessments of near-term development and commercialisation options for Kangaroo Hills, considering export direct shipped ore (DSO) and domestic ore sales scenarios. Managing Director and CEO Nick Rathjen highlighted the project as a compelling near-term commercial opportunity with strong strategic flexibility and no existing offtake commitments. A further 3,000-metre reverse circulation drilling program is scheduled for July 2026, focusing on follow-up drilling at Big Red and Potoroo, alongside first-pass drilling at the adjacent Miriam Lithium Project.
Forrest Gold Prospect Expands to 1 Kilometre Strike and 250 Metres Depth Following Phase 4 Drilling
Phase 4 reverse circulation drilling at the Forrest gold prospect revealed multiple new extensions along strike and at depth in both fresh rock and shallow oxide gold mineralisation. A standout intercept in hole FGRC055 returned 25 metres at 2.82 g/t gold from 170 metres depth, including 5 metres at 11.22 g/t gold from 186 metres. This represents a 90-metre down-dip extension to Phase 2 hole FGRC027, significantly expanding the vertical extent of the gold system.
Diamond drilling confirmed gold mineralisation hosted within strongly sheared and altered mafic units linked to the regional Miriam Shear Zone. Results verified significant down-dip and southern strike extensions, with the system now spanning approximately 1 kilometre north-south and reaching 250 metres vertical depth. The prospect remains open along strike and at depth, indicating potential for further expansion through additional drilling.
Regional Exploration Identifies Ten New Gold Anomalies and Expands Miriam Project Scope
Regional soil sampling expanded the Miriam Gold Project by identifying ten refined gold anomalies exceeding 50 parts per billion, within a 3.2-kilometre corridor exhibiting anomalous gold values of 20 parts per billion or more. These anomalies are high-priority drill targets. Concurrent Sub Audio Magnetic and ground gravity surveys alongside diamond drilling at Forrest revealed structures coinciding with known mineralisation beyond current drill areas, underscoring growth potential.
Ore Resources is conducting a 15,000-metre regional aircore drilling program, initially targeting the Burbanks East Gold Project, followed by prospects at Miriam including Jungle, Forrest North, Burbanks Monarch, Goroke, and Canyon. Geophysical surveys identified four additional structures for future drilling at Forrest, reflecting a systematic approach to gold exploration across Coolgardie.
Coolgardie Landholdings Expand to Over 80 Square Kilometres
During the quarter, Ore Resources acquired four contiguous licenses north of its existing Coolgardie Gold and Lithium Projects, increasing total Coolgardie landholdings to over 80 square kilometres. The new tenure covers the Kunanalling Shear Zone and includes the Avoca Prospect, a 300-metre mineralised trend in the southern area. This expansion strengthens the company’s strategic position and provides new exploration targets.
Additionally, Ore Resources entered a binding option to acquire six tenements adjacent to the Miriam project, including the Devils Playground prospect—a 300-metre mineralised trend on the eastern flank of the 6.2-kilometre Miriam Shear Zone—and historical prospects at Blue Bird, Tartan, Burbanks Welcome, and Aurifer with no prior modern exploration. These acquisitions enhance the company’s ability to evaluate shear-hosted gold targets and expand its exploration pipeline in Coolgardie.
Kal East Gold Portfolio Bolstered by Randalls Acquisition and Mount Monger Tenure
Ore Resources completed the acquisition of the Randalls Gold Project during the quarter, exercising option agreements and settling the deal. The company also secured Mount Monger tenure, further consolidating its Eastern Goldfields portfolio. These moves align with the strategy to grow landholdings and exploration opportunities in the Kal East district.
The Randalls and Mount Monger additions extend Ore Resources’ presence in the historically significant Eastern Goldfields gold mining region. While exploration and resource details for these projects were not disclosed, the acquisitions support the company’s goal of consolidating quality exploration ground across Coolgardie and Eastern Goldfields.
Robust Financial Position with A$6.8 Million Cash and No Debt Enables Exploration Acceleration
As of 30 June 2026, Ore Resources held A$6.8 million in cash with zero debt, providing strong financial capacity to fund exploration programs across Coolgardie and Eastern Goldfields throughout 2026. This solid cash position and debt-free status offer strategic flexibility to advance drilling and development without immediate capital market reliance.
The company emphasized it is well funded to execute all planned 2026 exploration activities at its Coolgardie Gold and Lithium Projects. This financial strength has facilitated expanded drilling, tenure acquisitions, and diamond drilling supporting technical and metallurgical studies for lithium project development, underpinning its accelerated exploration strategy for the remainder of 2026.
Management Enhanced by Appointment of Environmental & Approvals Manager
During the quarter, Ore Resources appointed Alan Tandy as Environmental & Approvals Manager to expedite permitting for the Coolgardie Lithium and Gold Projects. This role supports advancing development-stage activities at Kangaroo Hills Lithium Project and regulatory pathways for potential mining operations. The addition reflects management’s commitment to transitioning projects from exploration to development and commercialisation.
The appointment coincides with progressing technical and commercial studies for Kangaroo Hills and engagement with potential partners on development options. Environmental and permitting expertise is vital for mining operations in Australia, marking a key step toward project readiness.
Favourable Lithium Market Conditions Drive Coolgardie Project Advancement
Managing Director and CEO Nick Rathjen described the June 2026 quarter as transformational for Ore Resources, driven by improving lithium market conditions and increased industry activity in Coolgardie. The company identified these market improvements as a catalyst to accelerate exploration and development of its Coolgardie Lithium Projects.
Heightened industry engagement and commercial interest in lithium projects in Coolgardie create a compelling opportunity to advance Kangaroo Hills toward commercialisation. The company’s strategy to maintain flexibility and pursue multiple development pathways—including DSO and domestic ore sales—demonstrates a pragmatic approach aligned with strengthening lithium market fundamentals and emerging demand for battery-grade lithium resources.
