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Ore Resources (ASX:OR3) has expanded the project boundary envelope of its Kal East Gold Project (KEGP) more than 400sq.km as the company staked eighteen new tenements in recent history.
Covering the WA-based Mt. Monger, Randalls, Mt. Belches and Aldiss gold districts, the low-cost acquisition was described by the company as a strategic move with particular interest on ‘underexplored’ prospective gold targets.
Major structural potential gold corridors are a common feature across the new landholdings with the company’s total position at Kal East now more than 1,100sq.km; the company’s existing landholding at Mt. Monger – of particular interest to geotechs – has grown some 18sq.km larger.
At Mt Monger, we have rapidly progressed the project from target generation to drill readiness. We remain ontrack to commence initial drilling in November 2026, focused on testing of the Kims, Scotch Star and Rummy prospects, each of which has returned encouraging historical gold results while remaining largely untested by modern exploration techniques.
The geological setting at Mt Monger is particularly compelling, with Kims located immediately along strike from the Daisy Milano Mining Centre and Scotch Star positioned along the same mineralised trend as the active Fingals Gold Mine. Historical drilling has delivered high-grade gold intersections at both prospects, providing a strong foundation for upcoming drill testing.
At Mt. Monger, first-pass drilling will kick off in November of this year for up to 5,000m of aircore drilling at three prospects: Kims, Scotch Star and Rummy.
A further drill run up to 20,000m with an RC bit will kick off early next year “subject to … heritage clearances.”
The company has a cash balance of $6.8M and zero debt it reported on Monday. In the background, Ore Resources continues to progress a number of lithium assets also in WA; on a YoY basis, shares in Ore Resources are up more than +37%.
Managing Director Nick Rathjen outlined that the company is heading into a busy summer exploration blitz into early 2027 which he’s optimistic may be “transformational” for the junior explorer.
The company last traded at 6cps.
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